TSXV:ART.H - Post by User
Comment by
shleevoon Oct 17, 2009 1:47pm
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Post# 16396805
RE: RE: RE: More oil law
RE: RE: RE: More oil lawGood link vastone. Here's a link to oil and gas law and revenue sharing:
https://www.fas.org/sgp/crs/mideast/RL34064.pdf
There are so many different outcome scenarios to consider. Although I believe next year there will be a law passed, I think the whole issue will not be 100% resolved for a very long time. My understanding is the all oil revenue goes to Iraq central government and is distributed accordingly which is part of the draft revenue sharing law that will be passed as well.
There will be guranteed payments to Kurdistan and revenue sharing based on population, however, I am of the opinion that it is Kurdistans resposibility to pay these contractors, not Iraq. When the KRG says Iraq must pay these contractors, I believe they are referring to the oil and gas revenue sharing agreement between KRG and IRAQ. I don't believe any oil revenue is being passed on to the KRG accordingly. If anyone has any insight on this or can clarify, it would be appreciated.
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