Tuesday, October 09, 2007

Oil Contracts and a Non-Oil Investment.

6 OCTOBER 2007

From Beirut (Lebanon)

The Higher Syria-Jordanian Committee Meets in Amman.
The "Ahli United Bank" Finances Damietta Seaport by $480 m
The Rehabilitation of 24 Companies for Competing on Building Cement Factories in Egypt.
Egypt and Turkey Agree on Building an Industrial Complex.
FAO Says the Increase of Prices will Negative Effects on the Poor World Wide.
Bahrain Asserts Iran’s Right of Nuclear Energy.
The English Central Bank Preserves the Percentages of Interest.


Despite the opposition of the central government in Baghdad on signing any agreements before approving oil and gas law by the Iraqi parliament, Kurdistan Regional Government has signed four oil investment contracts that would attract about half a billion US dollars, the most important of which was signed with the American "Hunt Oil Company".

The government of Kurdistan said that it signed these contracts based on oil and gas law issued by the parliament of the province. Nevertheless, these contracts has resulted in making relations within the political coalition in Baghdad more tense, let alone the tension of relations with Turkey. Analysts said that Kurdistan’s government is trying to enhance its independence through signing more oil agreements, in addition to issuing an oil law that goes in line with the federation which the leaders of the province seek to achieve. Within this context, we can say that the goal has not to do only with oil investment, rather with the investments of the western parties in the province.
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