Oil and gas law will pass soon and Iraq got the green light to reduce the compensation of Kuwait
Published on Sunday, 07 October

Deputy Prime Minister revealed for Economic Affairs Rose Nuri Shaways closely to reach a common formula will lead to the adoption of the law of oil and gas in the coming days after the agreement between the Kurdistan region and the central government recently.
Shaways predicted that
"This law eliminates more than half of the outstanding problems between the region and the Centre on export and contracting operations."
Shaways said "this law, if approved, would be in the interests of the Iraqi people, and will be in line with the constitution, which stressed the need to exploit all scientific methods to increase production to bring the greatest benefit to the people."
Shaways described the form of relations between the Kurdistan region and central government Bamutaina.
Shaways confirmed the existence of common factors that led to the settlement of all disputes between the province and the center, stands in the forefront convinced both sides to strengthen Iraq's imports by increasing the size of financial export oil from both the center and south, or from the region, in reference to the crisis of oil exports from Kurdistan on its way to a settlement.
And on Iraq's money, Shaways hinted that the money legally, properly covered, which makes them immune from prosecution creditors, especially after the agreements made ​​in this regard with the Development Fund for Iraq, which save, and UN resolution, all oil sales revenues in it, which is renewed annually protection, but it will end next year, which called for the formation of a committee "to protect Iraq's money," which in turn worked on a timetable for the transfer of these funds to a bank account Central American, and worked to find a new formula to protect the money from creditors. "
Shaways described creditors that they had three forms, the first creditors are right, where it was fully settled, the second debt is right, still an ongoing follow-up process, and the third type is the compensation claims foreign nationals. "And added that" type Third also has settled fully in cooperation with the U.S. government and with the agreement of the Iraqi parliament paid compensation Bmekdra $ 400 million.
Shaways revealed Iraq to get a green light from the United Nations to reduce the compensation of Kuwait from five percent to 2 percent or 3 percent, and this is important, but will prolong the repayment period, which stressed that it is about to end soon.