Iraq is seeking to introduce legislation during the oil OPEC meeting tomorrow
Posted: October 11, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Announced the oil and gas representative, Tuesday, that Iraq will review on Wednesday his efforts to organize the political oil in the meetings of OPEC in Austria against with regard to legislation legal.

A member of the Furat al-Shara told the Kurdish News (Rn) that “Iraq will review efforts to Tzim political oil through legislation, legislation that supports the political Alnaftyah and cope with OPEC’s plan for the development of the world oil market during a meeting of OPEC in Austria, which will begin on Wednesday, which will continue for four days.”

“The Iraqi delegation which consists of 10 deputies, all from the oil and energy would look into the controls and obligations legislation of international oil adopted by OPEC. “

He explained that “the Iraqi delegation headed by Chairman Adnan al-Janabi, will review on Wednesday, its mechanisms to pass laws regulating the export of crude oil and gas and infrastructure development of the petroleum industry” .

A number of economists and those concerned with energy, last Saturday, the marginalization of the regions and provinces in the oil and gas law will weaken the position of Iraq in OPEC.

The Committee on oil and energy parliamentary decided to postpone the adoption of a law the national oil company until the passage of a law of oil and gas.

The Ministry of Oil has declared the month of September / September last year that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil. intends to Iraqi oil exports be increased during the next six years to 12 million barrels per day after obtaining the approval of the international oil (OPEC) and OPEC basket includes 12 types of crude oil is a mixture deserts of Algeria, Girassol Angolans and Iranian Heavy, Basra Light Iraqi crude export Kuwaiti Sidr Libya and Bonnie light Nigerian crude maritime country and Arab Light Saudi Murban UAE and Mary Venezuelan The OCC from Ecuador.