The Dinar Daily, Tuesday March 31, 2015 - Page 14
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Thread: The Dinar Daily, Tuesday March 31, 2015


    
  1. #131

    Re: The Dinar Daily, Tuesday March 31, 2015

    GKP placing StockMarketWire.com

    https://www.moneyam.com/action/news/s...cle?id=5006446

    Gulf Keystone Petroleum - the operator of the world class Shaikan field in the Kurdistan Region of Iraq - is to seek shareholder approval for a placing of up to 85,900,000 new common shares. Gulf Keystone says the proceeds will be used to strengthen the company's financial position in the near term, whilst the previously announced review of longer term financing options, and potential corporate actions, continues. This is alongside the ongoing work with the Kurdistan Regional Government's ministry of natural resources to establish a regular payment cycle for past and future Shaikan production and payment of arrears.

    The company's cash balance stands at US$86.3m, which includes the pre-payment of US$26m gross (U$20.8m net to Gulf Keystone) received for Shaikan crude oil sales on 25 February.

    The company continues to increase production to levels consistent with the installed capacity of 40,000 barrels of oil per day, currently producing approximately 35,000 gross bopd from the Shaikan production facilities.

    The placing - subject to approval at a meeting tomorrow - will be through an accelerated bookbuilding process by Mirabaud Securities and Pareto Securities with both new and existing institutional investors. SOURCE
    https://www.moneyam.com/action/news/s...cle?id=5006446



  2. #132

    Re: The Dinar Daily, Tuesday March 31, 2015

    Iraq faces debt to oil companies

    https://www.theoilandgasyear.com/cont...se-400x303.jpg

    BAGHDAD, March 31, 2015 – According to Fayaz Hassan, deputy minister for gas refineries at the Iraq Ministry of Oil, Iraq owes international oil companies nearly $20 billion. BasNews reports Hassan as saying that the Ministry of Oil has arranged to raise $12 billion as a first step to repayment after discussions with the Iraqi finance ministry and central bank. The funds should be available to oil companies “within a month,” according to Hassan. As Iraq wages war against the Islamic State and faces a loss of revenue from low oil prices, government budgets have suffered. Massive oil reserves will be a selling point to attract buyers to a planned international bond sale.

    Reuters reports that Iraq’s central government is in discussion with Citibank and Deutsche Bank to issue $5 billion in five-year bonds to bridge its budget gap. Actual bond sales may be as low as $1 billion, as Iraq lacks a credit rating from a major agency. Still, Iraq’s expansive oil reserves offer investors some assurance that the country can follow through on financial promises. SOURCE
    https://www.theoilandgasyear.com/news...oil-companies/

  3. #133

    Re: The Dinar Daily, Tuesday March 31, 2015

    Head of the Legal Committee looking the need to establish legislative drafting Center Specialist with the Committee on Legislative



    Search Chairman of the Parliamentary Legal Committee, headed by MP Mahmoud Hassan day Tuesday, 31/03/2015, ways to mature and functioning of laws with the legislative drafting committee in the House of Representatives.
    And discuss the meeting, which was attended by legal expert, and general manager of the legal department, and legislation affairs adviser, consultant and research and development, and the secretary of the Committee on Legislation Affairs, the basis of formation of the committee, which grew out of a conference under the Legislative Forum matter of Deputies 625.

    The Committee discussed the legislative drafting Created Parliamentary drafting Center Specialist in the House of Representatives to adopt all legal proposals, and follow up on the possibility of the application of laws, and measure the impact of the legislation, and pick up all of the files related to the legislative drafting Center Specialist taking care that includes a selection of legal experts, and not be the subject to the standards of quotas and have multiple departments to invest legal talent and expertise in the various terms of reference.

    Of offenders suggested Dr. Ali Ahmed Abbas adviser legislation Affairs in the House of Representatives a supplementary program to guide legislative drafting for the training of legal personnel to enhance the work of this evidence presented by the President of the Shura Council of the former state to ensure maximum benefit and development in the House of Representatives, which is the heart and the first factory of legislation.

    And the President of the Legal Committee Mahmoud Hassan terms of reference of the Legal Committee in Parliament, and the need to recover the right of legislation that is being understandings about it by the head of the House of Representatives with the relevant authorities, and amendments to the rules of procedure regarding the overlap of competencies between the legal committee and parliamentary committees and other stressing the need to develop the center, including serve such interference, and coordination of internal involvement and invite legal staff and advisors in all activities related to legislation and control, particularly hearings on the draft laws in the context of the legislative and supervisory work in the House of Representatives.

    Commented high MP Nassif legal Edwalganh pro-establishment of this unit to contribute to the lifting of the ambiguity of the legal texts and the creation of subsequent control laws in line with reality, which proceeded for and diagnose the state of the laws of a particular need for legislation. SOURCE

    https://parliament.iq/details.aspx?id=36512&AlwType=Pre

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