OCRUSH MARCH 5
I spoke to my cousin. He believes the erbil agreement and hcl have been passed. When this happened he does not know. What he knows is Exxon and a Chinese oil company are discussing a joint agrrement on the oil field that Exxon was going to sell ( a percentage). Now, the deputy of oil has proceeded to tell him the oil minister and Maliki are adjusting (or has) this contract to reflect Exxons Kurdish contract.
If that is the case the HCL has passed. You see the ammended hcl (which the Kurds follow with their contracts) are more lucrative for oil companies and will benefit baghdad to bring in higher investments from the existing oil companies and new bidders.
Barzani has been pushing his initiative all of last week and is continuing to do so this week. There is much more happening besides the budget.
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Debt is being paid to foreign countries and the dfi protection expires, I believe in May. This truly is incredible. We have never seen so much activity concerning these matters.
We now believe the budget will go forward when the GOI has completed there task incorporating everything. This is all very positive and we think its just a matter of time (short).
Cheers All:)) PS: It really is all positive news despite the fact the budget has not passed (yet:)
SteveI: I totally agree with these statements. We are almost done.
Thank you for taking the time to share.