The Importance Of Oil And Gas Law, 27 NOV

 The Importance Of Oil And Gas Law

Economical  11/26/2023   Muhammad Sharif Abu Maysam   The importance of the Oil and Gas Law does not stop at establishing the correct mechanisms and methods for managing oil wealth and establishing the correct solutions for resolving oil and gas conflicts and disputes between the producing and contracting parties in a way that enhances confidence in the political system and the judicial institution, as its legislation and entry into force will necessarily contribute to supporting political, security and economic stability.

 They will contribute to strengthening national unity, increasing the rule of law, and creating an attractive investment environment that goes beyond promoting investments in the oil sector, and will push towards the urgent need to legislate the Federal Court law, respect the constitution, and resolve all points of contention between the center and the region, given that most of the outstanding problems between Baghdad and Erbil are the result of the oil and revenue file.

Oil, and most importantly of all, the legislation of this law will confirm the right of the Iraqi people to own oil and gas wealth as stated in Articles (11 and 12) of the Constitution.

Despite this great importance of legislating the oil and gas law, which prompted the current government to form a committee to study and amend the draft law and then present it to the government and the House of Representatives, political differences are still an obstacle to approving a law that satisfies all parties since 2007 until now, which makes Legislating this law is the biggest challenge under the government's program document applications.

It goes without saying that a legal draft that is not consistent with the constitutional texts will be subject to categorical rejection under the powers of the Federal Court responsible for implementing the constitutional texts. Anything less than that can be agreed upon through intensifying dialogue sessions between oil and legal experts and those concerned with financial management.

However, such a law will remain. It has been locked away for about sixteen years without legislation under the pretext of political differences. This is a very strange matter, not only because the justifications for obstruction are illogical in light of the extent of the national importance of its legislation, but also because the current stage is the most dangerous after the escalation of the conflict between the major oil-consuming countries, in addition to what the country is witnessing.

Of major economic transformations, at a time when we are looking forward to implementing the government program, specifically with regard to legislating obstructive laws and resolving disputes related to economic files.

Accordingly, the current committee charged with studying and amending the draft prepared in 2007, over which dialogue took place for years to no avail, is required to work hard, compete for time, and disclose the reality of the obstacles that hinder reaching consensus on the controversial points contained therein, with the aim of forming a public opinion that pressures those responsible. By disrupting.   https://alsabaah.iq/87868-.html