One Of Them Is “Faltering Negotiations”.. Kurdish Leader: Two Reasons Behind The Postponement Of The Oil And Gas Law, 25 OCT

One Of Them Is “Faltering Negotiations”.. Kurdish Leader: Two Reasons Behind The Postponement Of The Oil And Gas Law

Time: 10/24/2023 Read: 156 times   {Politics: Al-Furat News} The leader of the Patriotic Union of Kurdistan, Sherzad Samad, revealed today, Tuesday, the reasons for deporting the oil and gas law.

Samad told {Al-Furat News} that: “The reason behind postponing the oil and gas law for another period of time is due to faltering negotiations and the existence of differences on the content of the project, especially since the Democratic Party has reservations about the budget.”

Samad noted, “Negotiations are still ongoing between the region and the center regarding the budget, as it will be the nucleus of the draft oil and gas law.”

The leader of the Kurdistan Democratic Party, Wafa Muhammad Karim, via Al-Furat News, suggested that the oil and gas law file be postponed until after the local elections due to previous problems between Baghdad and the region, but the oil-producing provinces have entered the crisis line.

It is noteworthy that since the first session of the House of Representatives, in 2005, the draft oil and gas law has been locked up, as disagreements prevent its approval in its final form.

After 18 years, he announced, in late last August, the formation of a committee to develop “a draft of the oil and gas law and present it to the government and the House of Representatives.”

The committee that was formed between Baghdad and Kurdistan to draft a draft law for oil and gas includes “the Minister of Oil, the Minister of Natural Resources in the region, the Director General of SOMO Company, and the advanced staff in the Ministry of Oil, as well as the oil-producing governorates such as Basra, Dhi Qar, Maysan, and Kirkuk.”

The Prime Minister, Muhammad Shiaa Al-Sudani, said in early August that “the draft oil and gas law is one of the basic and important laws that represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time when the country today is in dire need of its legislation and to benefit from this natural wealth.” In all fields and sectors, in addition to the contribution of the legislation to solving many outstanding problems.”

Meanwhile, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as quickly as possible will establish a stable national road map for investment and production of the country’s primary sovereign resource, which is oil and gas.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold constitutes more than 90 percent of the Iraqi treasury’s resources.   LINK