Islandg1211 - Was the RV ever going to happen without a fair system oil companies could trust?
I wanted to highlight today's news that Kurdistan has hired DeLoitte to be their oversight of their oil production. This comes after Barzani and Abadi's meetings, and directly is related to an Oil and Gas law agreement.
Baghdad has to have faith in the Kurd's oil accounting.
No more under reporting oil production
No more illegal sale of oil by the Kurds.
Corruption has to stop.
The citizen's share of oil has to be fairly and correctly accounted for.
Bringing in Deloitte is Huge!
Abadi said that the oil and gas agreement is going to take a few meetings to get everything worked out. Today's announcement is the result of one aspect of the meeting getting worked out to everyone's advantage.
Was the RV ever going to happen without a fair system in place that the oil companies could trust?
No. Two very important oil agreements have been made between Baghdad and Erbil.
First was the agreement to split the disputed oil field.
Then an undisclosed presumed agreement for post-ISIS Mosul.
Now an independent auditor for the Kurds' oil.
This is looking very, very good for a completed oil agreement with the Kurds.
Islandg1211 – TODAY’S NEWS SUMMARY
Turkish forces are refusing to leave Iraq. Abadi has requested that the UNSC convene and intervene.
Abadi spoke with the citizens of Mosul now that his army has control of the airways.
Sources still reporting Oct. 19 as the start of the battle for the city.
WAR ON CORRUPTION:
There is a lot of changes going on inside Iraq to stop the corruption. Abadi has brought in international help to aid with transparency and accountability.
Today, Kurdistan hired Deloitte to monitor their oil sales.
One article stated that Iraq has been taken off the "Grey List" and is on the "White List" for international tax disclosure standards.
UST MONITORING THE CBI:
UN brought in to help with corruption.
Abadi is set to present his technocrat new ministers. This will very important to watch to see if he can finally get the GOI to approve his picks.
ISIS had control of oil fields which was funding their organization. Oil prices plummeted. Reports last week indicated that ISIS no longer controlled any oil. OPEC meetings last week indicated that Saudi Arabia may be willing to cap their oil exports, while Iraq insisted that they be allowed to export up to the 5 mbd. Oil prices are up as a result of Saudis perceived willingness to restrict supply.
Getting rid of ISIS in Mosul, replacing corrupt ministers with non-political professionals, bringing in professional experts from the U.S. and the UN to stop the hemmoraging of money and establish true transparency is all going on right now.
KURDS AND BAGHDAD:
Very progress going on with productive talks and agreements between Abadi and Barzani. The battle plans for Mosul and post liberation agreements were made. Kirkuk oil field agreement was made last month. Abadi has stated that oil and gas law is being worked out. Today's announcement of the Kurds agreeing to hire Deloitte to conduct the oversight of the oil sales is very positive.
Hopefully the Kurds agreement included their cooperation in getting the new ministers voted in and the quick passing of the needed laws.