Home
[You must be registered and logged in to see this image.]
Shafaq News/ "Gibson Dunn" International Law Office warned, on Sunday, Iraq against taking any action against the oil companies operating in the Kurdistan Region in accordance with the decision of the Federal Supreme Court ruling that the oil and gas law of the region is unconstitutional, indicating that the companies will sue Baghdad for tens of billions of dollars. as compensation.
The office specialized in issues of international oil and gas companies, which is based in the United States of America, expressed a legal opinion regarding the dispute between Erbil and Baghdad over the recent Federal Supreme Court decision unconstitutional of the oil and gas law for the Kurdistan Region and the federal government’s actions to implement it.
The office said that "it is likely that this intervention from the Iraqi government will prompt international oil companies to file legal cases against Iraq, and investors affected by the decision will demand compensation with the international legal community, especially through contractual arbitration agreements in accordance with the terms of contracts signed with the Kurdistan Region and arbitration procedures in accordance with international investment agreements.
He added, "Iraq will also be subject to legal accountability for violating the contracts signed with the region in the event that it takes any action that ends or changes these contracts, and will also be prosecuted for violating the stabilization and stability clause (provided in the contracts for the regional government), if any action is taken that would change the financial conditions. economic or economic emanating from laws or regulations in force at the time of signing these contracts.
The office cautioned that "due to the presence of many international oil companies operating in the Kurdistan Region associated with long-term contracts with the regional government (more than 30 companies), the damages that Iraq may incur as a result of these issues may reach tens of billions of dollars or more."
On February 15, 2022, the Federal Supreme Court, the highest judicial authority concerned with interpreting the Iraqi constitution, issued a decision that the Kurdistan Region Oil and Gas Law No. 22 of 2007 was unconstitutional.
[You must be registered and logged in to see this link.]
An international law firm: Repealing Kurdistan's oil and gas law will cost Iraq billions of dollars
Shafaq News/ "Gibson Dunn" International Law Office warned, on Sunday, Iraq against taking any action against the oil companies operating in the Kurdistan Region in accordance with the decision of the Federal Supreme Court ruling that the oil and gas law of the region is unconstitutional, indicating that the companies will sue Baghdad for tens of billions of dollars. as compensation.
The office specialized in issues of international oil and gas companies, which is based in the United States of America, expressed a legal opinion regarding the dispute between Erbil and Baghdad over the recent Federal Supreme Court decision unconstitutional of the oil and gas law for the Kurdistan Region and the federal government’s actions to implement it.
The office said that "it is likely that this intervention from the Iraqi government will prompt international oil companies to file legal cases against Iraq, and investors affected by the decision will demand compensation with the international legal community, especially through contractual arbitration agreements in accordance with the terms of contracts signed with the Kurdistan Region and arbitration procedures in accordance with international investment agreements.
He added, "Iraq will also be subject to legal accountability for violating the contracts signed with the region in the event that it takes any action that ends or changes these contracts, and will also be prosecuted for violating the stabilization and stability clause (provided in the contracts for the regional government), if any action is taken that would change the financial conditions. economic or economic emanating from laws or regulations in force at the time of signing these contracts.
The office cautioned that "due to the presence of many international oil companies operating in the Kurdistan Region associated with long-term contracts with the regional government (more than 30 companies), the damages that Iraq may incur as a result of these issues may reach tens of billions of dollars or more."
On February 15, 2022, the Federal Supreme Court, the highest judicial authority concerned with interpreting the Iraqi constitution, issued a decision that the Kurdistan Region Oil and Gas Law No. 22 of 2007 was unconstitutional.
[You must be registered and logged in to see this link.]
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
» utube MM&C 4/28/24 Iraq Dinar - IQD - Banks - Merge Regionally - Water - Labor -Jobs - Dinar Value
» Al-Sudani: The water situation in Iraq is not in the best condition.. Aboul Gheit extends an invitat
» The Sudanese advisor explains... Has the 2024 budget entered into force?
» The Iraqi Central Bank announces the strengthening of banks’ external accounts by $260 million
» Economist: The path of development is the first gateway to sustainable economic advancement in Iraq
» The green economy and diversity... major projects and challenges that will reap their fruits later -
» Behind the scenes of the state administration meeting: The regional government supports Sudanese wit
» The Real Estate Registry begins activating the electronic restrictions management system program
» Al-Sudani confirms from Riyadh the possibility of cooperation with the German technology company (SA
» On top of which is the path of development.. Al-Awadi announces the most prominent files that the Pr
» The President of the Republic receives the President of the International Labor Organization
» Parliamentary Finance: This week will witness funding the salaries of employees in the Kurdistan Reg
» On an experimental basis... Justice announces the start of activating the electronic barriers manage
» Obelisk Hour: The economic provisions in the strategic framework agreement need to be activated
» Before self-sufficiency... 80 percent of citizens' need for gasoline will be met soon
» A deputy reveals the features of the "five-year plan" to revive Iraqi agriculture
» Deputy: We opened the Council of Ministers to decide the salary scale
» Iraq doubles its investments in modern irrigation engineering by no less than 20%
» Confirming to Shafaq News... The Sudanese arrives in Saudi Arabia to participate in the World Econom
» Al-Sudani announces that clues have been found leading to those involved in the Kormor bombing
» Special: Deconstructing the mystery of the repeated targeting of the Kormor field
» Increase in foreign remittance sales at the Central Bank of Iraq
» Al-Maliki: The salaries of the region’s employees are continuing, and there will be solutions to del
» Minister of Resources: Iraq is one of the countries most affected by climate change
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
» An Arab call to the countries neighboring Iraq regarding the share of water
» IMF: Poor productivity is responsible for 50% of the decline in economic growth
» The President of the Republic stresses to Barzani the importance of focusing on construction, recons
» Will Iran lose the Iraqi market? 20 million dollars is threatened with loss
» Parliamentary Economy: Parliament will extend the legislative term to approve the budget
» The price of the dollar is close to 145 thousand dinars؛ how much is $100 worth of transactions؟
» A factory for producing electric cars
» Prime Minister: We have launched strategies to improve the conditions of workers
» Economic prospects from America to Türkiye
» Al-Rayes: The path of development is the first gateway to sustainable economic advancement
» Days after announcing the connection with Jordan, an almost complete absence of electricity in Ramad
» A Kurdistan delegation meets with the Ministry of Finance in Baghdad to discuss “revenues and implem
» Parliamentary Economy reviews files and the importance of Sudanese’s upcoming visit to Saudi Arabia
» Al-Maliki talks about postponing the Kurdistan Parliament elections and says that salary transfers w
» The President of the Republic and Barzani discuss the results of Sudanese’s visit to the United Stat
» The Ministry of Finance is "dizzy"... An expert points out a "lapse" in the budget schedules: Februa
» Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedul
» The Iraqi dinar is recovering against the US dollar in local markets
» Iraq.. The claim that OPEC’s decisions affect oil derivatives only and not crude is “inaccurate”
» Al-Bawi: Erdogan failed in his promises to his people and seeks to plunge Iraq into its conflict wit
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
» Amnesty International criticizes Iraq's implementation of 13 death sentences
» The ambassador is very angry with Parliament: The homosexuality law obstructs the government and har
» Al-Mandalawi: There is no place for homosexuality in the Iraq of the prophets and saints, and that i
» Al-Sudani receives the President of the University: Towards the strength and status of the Arab syst
» Ayed Al-Hilali: All leaders are discussing “the finer details of Sudanese” tonight, and Barzani join
» He announced the reception of offers from three alliances from international companies for the Baghd
» During his meeting with the head of the Iraqi Journalists Syndicate... Al-Amiri stresses the importa
» During the launch of the Arab Labor Conference in its 50th session in Baghdad... Al-Sudani: We launc
» Saudi Arabia announces an increase in direct flights with Iraq
» Resources: Government measures have contributed to improving the water situation in Iraq
» Al-Sadr: The voice of American universities calling for an end to Zionist terrorism is our voice
» International organization: 50% of displaced Iraqis lack official documents
» Al-Sudani: The path of development will provide many job opportunities
» Parliament Finance: The necessity of converting tax and customs revenues to digital processing
» Al-Sudani announces that clues have been found to uncover those involved in the Kormor bombing
» The start of the work of the Fourth Baghdad International Water Conference
» The Council of Ministers will suspend official working hours next Wednesday
» An almost complete outage of water and electricity in western Anbar
» Parliamentary expectations of extending the legislative term to approve the budget
» Education: The cost of participating in the electronic school will amount to 200 thousand dinars
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
» A newspaper reveals a dark world that brings together bloggers and politicians
» Al-Marsoumi: The bombing of the Kormor field undermined efforts to achieve self-sufficiency in gas
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
» Parliamentary efforts to transform Iraq into a global market for transferring Internet capacities
» A parliamentary committee that enriches the political forces: Stop plundering Iraq’s wealth and work
» Politician: Salem Al-Issawi is the most likely to assume the presidency of Parliament
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
» Among them are the Iraqis... a list of the most sought-after immigrants to America
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
» The House of Representatives adjourns its session
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
» Alsumaria publishes the text of the law against prostitution and homosexuality
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
» International Business: Iraq has made progress in supporting businesses through investment and priva
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
» Parliamentary integrity: Combating corruption requires parliamentary legislation
» Al-Karaawi: America is trying to restrict Iraq
» The State of Law coalition moves to form the local government in Diyala
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
» The Sunni blocs are resolute. The presidency of the Council is ours, away from Al-Halbousi
» Al-Sudani discusses with a workers’ organization his government’s steps in this field
» Parliament holds its session in the presence of 170 deputies
» In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “i
» The UAE company ADNOC resorts to Iraqi oil. Find out the reasons
» The Iraqi Parliament votes to add an item to elect a president to its agenda