Barzani calls for development of a special law to divide the profits of oil and gas in Iraq
THURSDAY, 26 DECEMBER / 2 JANUARY 2012 10:05



Twilight News / student Kurdistan Region President Masoud Barzani, on Thursday, according to the allocation of the law of the Constitution regulates the division of profits of oil and gas in Iraq.

A statement issued by the Presidency of the province received a "Twilight News" copy that "the President of the Kurdistan Region Masoud Barzani received (on Wednesday) in the resort of Salahuddin Special Representative for the International Energy U.S. Department of State Carlos Pascoal and his accompanying delegation and accompanied by U.S. Ambassador to Iraq" .

The statement said that "the two sides exchanged opinion on the development of oil and energy in Iraq and the Kurdistan Region and themes related to oil and natural minerals in Iraq and the world, as well as the changes facing the oil market in the world, and the policy of the Kurdistan Region on these changes and the emphasis on the development of a special law on the division of profits of oil and natural gas in Iraq, taking into account the constitutional provisions in this regard. "

The Iraqi government had announced last July, on the ratification of the draft law of oil and gas, and decided to submit them to Parliament for approval, while the Kurdistan Regional Government rejected that project.

The dispute centered between Arbil and Baghdad on 41 oil contracts signed by the provincial government since 2007 and now Baghdad and described the absence of transparency in the signature, in Erbil recently rejected a draft law of oil and gas approved by the Iraqi government and sent to the House of Representatives for approval.

And declared the presidency of Kurdistan Regional Government, the beginning of this month, for the consensus principle, happened between Arbil and Baghdad on a new formula to approve oil and gas law, indicating that the oil and gas committee is working to translate the consensus of the combination of the draft law and its proposal.