And we’ve been right. The first of the five “benchmarks” in the war funding bill passed by the U.S. House of Representatives on May 10 requires
The law has long been drafted, and it opens up two-thirds of
If that sounds familiar, it’s because the peace movement has been saying it for five years. First they ignore you, then they laugh at you, then they attack you, then you win.
We have a chance to listen too, because from June 4 to June 29, Iraqi labor leaders will be touring the
The labor movement in the
If you prefer a cartoon video explanation, here’s Jim Hightower.
Here’s the actual language of the law: PDF.
Antonia Juhasz provides the following explanation of the key sections of the law:
Article 6: Creating the Iraq National Oil Company
B- Its scope of operations shall include: First: Managing and operating existing producing Fields mentioned in Annex No. 1, and both the North Oil Company and the South Oil Company are linked to it.
Article 12: State Participation
B- The Exploration and Production rights with regard to existing producing Fields are hereby given to INOC…
ANALYSIS: Articles 6 and 12 clearly state that the Iraq National Oil Company only has exclusive rights to the oil fields which are currently producing oil. Experts on Iraqi oil commonly refer to the following statistic: “
Article 9: Grant of Rights
A- The rights for conducting Petroleum Operations shall be granted on the basis of an Exploration and Production contract. The contract shall be entered between the Ministry (or the Regional Authority) and an Iraqi or Foreign Person, natural or legal, which has demonstrated to the Ministry or the Regional Authority the technical competence and financial capability that are adequate for the efficient conduct of Petroleum Operations according to the guidelines of the Federal Oil and Gas Council and as mentioned in Article 5C Fifth, and in accordance with the mechanisms of negotiations and contracting stated in Article 10 of this Law.
CHAPTER III: FIELD EXPLORATION AND FIELD DEVELOPMENT OPERATIONS
Article 13: Exploration and Production Contracts
A- An Exploration and Production Contract shall give the holder an exclusive right to conduct Petroleum Exploration and Production in the Contract Area.
B- Except if additional time is needed to complete the operations to assess a Discovery, the exclusive Exploration and Production right shall be granted as follows:
(NOTE from Antonia – the draft then goes on to delineate a 30-year period during which the company has exclusive exploration and production rights).
ANALYSIS: Article 9 states that the right to conduct petroleum operations in
Private foreign companies are offered the right to exclusive contracts to explore for and produce
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