Uloum: oil law develops imports

8/25/2015 0:00

BAGHDAD - the joy of pumice
In line with the economic reforms announced by the government recently, the Commission on oil and energy parliamentary called to speed up the approval of the oil law, which confirmed it was investigating growth in the country's imports through the optimal investment for this wealth to be adopted by the country.

A member of the Committee, Dr. Ibrahim Bahr al-Ulum in a statement »Sabah»: «At the beginning of the legislative term government asked the parliamentary committees activate the stalled bills, especially the oil and gas law, which invited the Commission to reconsider the draft oil and gas law, but the government requested that the draft law to the cabinet. » He continued: «the law is still in the corridors of government and the advisers», indicating that «We were informed of the formation of a committee to review the draft law, but he did not send so far to the House of Representatives to discuss».

Bahr al-Ulum and see that the draft law form the past has become useless and need to think seriously and realistically about the new draft. The oil and gas law «important» because it solves a lot of dilemmas that exist between Baghdad and Erbil and between the oil-producing provinces, and therefore, the law draws the oil policy of the country.

He suggested a committee member dismantle the current draft law and re-drafted and implemented in two phases according to the needs of the country, the first states to form a «Federal Council for Oil and Gas» managed by the Prime Minister and some Government members regulars with the participation of producing provinces representatives, and elements of an independent specialist in this field, to draw the Council's energy policies are year in the country.

The second phase focuses on passing a law «National Oil Company», especially that he read the first reading at the last session, and now needs to approve, saying that it was commensurate with the aspirations of the founding of this company to be the parent company for all extractive companies in the country, and are joined by the Oil Marketing Company Crude, stressing the possibility of dealing with these phases separately, especially since the current version does not fit with the current stage witnessed by the oil arena in the world and Iraq, especially the requirements.

In terms of reforms, especially the reform of the oil file, see Bahr al-Ulum that should there be administrative reform in the oil sector is to become the Ministry of Oil hand involved in policy-making and monitoring and proceeds and issued the instructions, either the executive arm of the Ministry of Oil must be the national oil company, as applicable in so countries of the world, therefore, there is a separation between the executive work entrusted to the national oil company, and between the work of the Ministry of Oil in the oil policies, instructions and regulations drawing, noting that this is an administrative reform President.

He added by saying: The «oil company must be independent and possess legal personality and financial and administrative so you can oil the file management executive», believing that the Ministry of Oil management and policy formulation, monitoring and implementation is an «obstacle» to any progress in the oil sector.