Calls for speedy oil and gas law legislation
Baghdad/ Farah al-Bat: As part of the reforms announced by the government, the government pledged to continue to address parliament and the legislation of the oil and gas law long awaited by the Iraqi street, because of its importance in establishing a clear and transparent oil policy, which leads to the organization of the oil relationship between the center and the region and to the proper dealing between companies Iraqi and foreign investors and oil companies and, most importantly, the equal distribution of revenues to achieve the country’s development.
“The legislation of this law has great economic feasibility and works to achieve several strategic factors, including attracting international oil investors known for their solidness, and drawing up a clear policy that makes oil institutions competitive, as they contribute to “These factors are conducing to improving the reality of public oil companies and effectively playing their role, which leads to the blocking of financial and administrative corruption.” And the administrator.”
“The oil and gas law establishes and establishes a legal cover for oil operations in Iraq that give legitimacy to exploration, extraction and production, which has a weight in the international and international community, especially since it regulates the relationship between Iraq and the producing and non-producing countries and draws transparency in Dealing, as will be an important reference to prevent the differences between the Center and the Kurdistan Region, thus leading to an increase in the production and storage of crude oil and gas produced during extraction operations, which need a reference to explain how they work, market and export.”
“The delay in passing the oil and gas law has a negative impact on the country’s economy, which has become mainly dependent on oil revenues, which in turn has caused paralysis in other productive sectors,” the expert said, noting that “the country’s oil wealth can support and do sectors of the country.” Industry, agriculture, construction and construction that contributes to solving the housing crisis, without exporting it to countries.
The Prime Minister announced the signing of an agreement with Norway during the norwegian prime minister’s recent visit to Baghdad, which includes cooperation under the slogan “Oil for Development”, which the government is working to achieve, reviving the development process in all provinces and driving the economy.
“There is a hierarchical relationship between the oil and gas law and other laws, including the National Oil Company Act, the Investment Law and other service laws, and it also paves the way for legislation and the application of important laws concerning agriculture and industry,” al-Marzouq said. Petrochemicals on the one hand and fertilizers on the one hand Another.”
As for the foundations for the development of the oil sector, Al-Marzouq pointed out that “its development is through the formation of a higher council through which the work of this vital sector is managed, which is expected to achieve a significant increase in the movement of work by employing large numbers of workers in this sector when this happens.” He explains that the formation of this council “will establish a modern and sophisticated system for managing oil operations in Iraq, including the development of long- and medium- and short-term strategies, policies and plans, while expanding the use of direct effort in the Iraqi and foreign public and private sectors to carry out operations. Oil in Iraq, based on the latest technology and economy.
However, the view of Iraq’s oil wealth has become local, al-Marzouq said, “which is that each region views what is below its territory as the property of the region, and contrary to the constitution that oil belongs to the entire Iraqi people, the principle of distributing the benefits of oil among all provinces must be followed in a way that equal.”