THE OIL AND GAS LAW RETURNS TO THE FOREFRONT… PARLIAMENT SPECULATES ON THE DATE OF ITS LEGISLATION AND DETERMINES THE REASONS FOR ITS DELAY, 16 NOV

  THE OIL AND GAS LAW RETURNS TO THE FOREFRONT… PARLIAMENT SPECULATES ON THE DATE OF ITS LEGISLATION AND DETERMINES THE REASONS FOR ITS DELAY

(and it will continue until this commitment to get it done is completed. )

Today, Sunday (November 12, 2023), the Parliamentary Legal Committee commented on the latest developments in the legislation of the oil and gas law, by the House of Representatives, according to the political agreement between the blocs and parties.

Committee member Arif Al-Hamami told “Baghdad Today” that “legislating the oil and gas law requires the existence of a political agreement on the terms and paragraphs of the law, and this agreement does not currently exist,” pointing out that dialogues are continuing regarding it between the technical and legal committees between the central and regional governments.

Al-Hamami stressed that “there is seriousness on the part of the Iraqi government to legislate the oil and gas law due to its importance in regulating financial and oil relations with the region, but legislating the law requires careful study, and we believe that legislating the law will be the beginning of the new legislative chapter, that is, after the provincial council elections.”

The American Consulate in the Kurdistan Region confirmed on Tuesday (November 7, 2023) that it is following up on the issue of resuming the export of the region’s oil abroad, considering that resolving the disputes resulting from the lack of financial revenues in the region and ratifying the oil and gas law is a priority for it.

The Ministry of Natural Resources in the Kurdistan Regional Government said, “its Minister, Kamal Muhammad, received the new American Consul General in the Kurdistan Region, Mark Straw,” noting that the latter “expressed his country’s readiness to invest in the electricity, energy, and oil sectors.”

Straw said, according to the ministry’s statement, “We are closely following the issue of resuming the export of Kurdistan region’s oil abroad, and we know that stopping exports has had a significant impact on public financial revenues in the region,” noting that “solving the problem of lack of revenues in the region and ratifying the oil and gas law represents a priority.” Regarding Washington’s policies and agenda.”  

In turn, the Minister of Natural Resources in the Kurdistan Regional Government, Kamal Muhammad, praised the American role in contributing to solving the problem of the cessation of oil exports in the region abroad and the problems related to the oil and gas law.

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