Parliamentary Committee to Al-Eqtisad News: The Oil and Gas Law is Almost Complete, and This is What We Hope for from Barzani’s Visit to Baghdad

 Parliamentary Committee to Al-Eqtisad News: The Oil and Gas Law is Almost Complete, and This is What We Hope for from Barzani’s Visit to Baghdad

7/4/2024  Baghdad

Member of the Parliamentary Oil and Gas Committee, Zainab Al-Moussawi, revealed today, Thursday, the latest developments in the Oil and Gas Law, while pointing to the impact of Masoud Barzani’s visit to Baghdad on the approval of the law.

Al-Moussawi said in an interview with Al-Eqtisad News: “So far, the draft oil and gas law is almost complete, with a high percentage that may reach 90%, but there are some objections from the Kurds regarding some points, which are summarized in handing over oil imports and exploited and unexploited natural resources to Baghdad, as Erbil refuses to do so.”

She added: “We hope that Masoud Barzani’s visit will be the beginning of resolving the crisis of the law and its legislation after an agreement with the political foundations in Baghdad, which is the Coordination Framework, as all political blocs are moving towards legislating the oil and gas law that regulates the country’s natural resources.”

The member of the Parliamentary Oil Committee explained that “the Oil and Gas Law contributes to exploiting the largest possible amount of undiscovered oil fields and also contributes to achieving self-sufficiency in petroleum derivatives and optimal exploitation of wasted natural resources estimated at hundreds of billions of dollars that contribute to diversifying the state’s financial resources.”  LINK