27/04/2011
Iraqi parliament to vote on the majority of crude oil investment law No. 64 of 2007
Baghdad, A deputy from the list, Iraq, Wednesday, for the House of Representatives vote on the bill that the First Amendment of the Law of private investment for the liquidation of crude oil No. (64) for the year 2007, approved by the Iraqi government by the end of April of last year.
The buxom Daini told the Kurdish news agency (Rn) that "the Iraqi Council of Representatives voted on Thursday, a majority of the draft law of the First Amendment on the Law of private investment in crude oil refining No. (64) for the year 2007."
He added that "the Iraqi government and specifically the State Council had approved the project in April of last year and referred it to the House of Representatives."
According to Dani that "the project to ensure that the ratio of reduction of price of crude oil supplier to the refineries of 5% and duration of fifty years, noting that the approval of the draft law on first amendment to the law of private investment in crude oil refining No. (64) for the year 2007 comes within the practical steps the government is seeking which to encourage investment in this field and encourage investors to invest in this vital sector."
And indicated that:
_ "the project will enable the development of production of oil and its derivatives to be a substitute for imported petroleum products from abroad, stressing that"
_The oil ministry had requested to amend the law in the form, which encourages the Iraqi private sector and foreign investment in the activity of the liquidation of crude oil in Iraq by increasing the discount rate granted on the price of crude oil supplier to the investing company, that increase this percentage to the price of oil supplier to the investor (1%) to (5%) will be an incentive to the private sector to invest in the liquidation of crude oil in Iraq and that the country needed to invest. "
She drew an MP for Iraq that the law ensures that "the Ministry of oil processing refineries covered by the provisions of this law, crude oil and commensurate with the operational capacity of her world prices under a contract signed between the Ministry of Oil and the company invested according to the equation of price ..
.. indicating that " the current law emphasizes that the company would invest in the establishment of a pipeline to transport crude oil connects the point of delivery and the refinery at its own expense and be responsible for running and maintaining the facilities and are subject to measurement and control, calibration, periodic inspection by a competent third party nominated by the investing company and is associated with the approval of the Ministry of Oil. "
The agenda for the meeting of the House of Representatives of the 58 headed by Osama Nujaifi the presence of his two deputies included:
The agenda for the meeting of the House of Representatives of the 58 headed by Osama Nujaifi the presence of his two deputies included:
_a vote on the bill that the First Amendment of the Law of private investment in crude oil refining No. 64 of 2007 made by the Commission on oil and energy and natural resources representative, in addition to
_the first reading of a bill board media and communications, in addition to
_the first reading of bills Framework Convention on Trade Preferential System among the Member States, the statutes of the Islamic Association of Telecommunications, and the Convention on the Islamic Conference on combating international terrorism, as well as
_the first reading of the draft Law on the accession of the Republic of Iraq to the International Convention for the Suppression of the Financing of Terrorism , and
_the draft law on Iraq's accession to the International Convention for the Suppression of Acts of Nuclear Terrorism, along with the second reading of proposed rules of procedure by the Legal Committee.
