by Faleh Al-Khayat, oil expert. This speech was a part of Occupation Year 7: What future for Iraq? , a series of events organized by The BRussells Tribunal, and took place in the European Parliament, 18 March 2009, in Brussels
Browsing Posts tagged Parliament
Iraq: The Iraqi parliament has approved a 2010 budget that sets federal spending at ID84.7 trillion dinars and a deficit of ID22.9 trillion dinars, Reuters has reported. Lawmakers said the budget sets an expected oil price of $62.5 per barrel and puts expected average oil exports at 2.15 million barrels per day in 2010. According to Ali Hussain Balou, head of parliament’s oil and gas committee, the parliament also included a clause setting aside $1 for each barrel of oil produced for oil-producing provinces to use in investment projects. [AMEInfo.com]
Kuwait is in “friendly” unofficial talks with Dow Chemical Co. to avoid paying a $2.5bn penalty for scrapping a $17.4bn petrochemical deal, Arabic daily al-Rai has reported. Kuwait has offered to pay 10% of the penalty which amounts to some $250m, the paper said. Kuwait scrapped the petrochemicals deal with Dow in December 2008, a month after signing it, due to criticism in parliament.
