On Tuesday, the Ministry of Oil announced that the government is advancing with the adoption of the oil and gas law, stressing that it is subject to consensus.
According to the ministry’s spokesman, Assem Jihad, “the ministry prepared the oil and gas law and submitted it to the government, and this law was discussed by the concerned authorities and the team formed by the regional government,” emphasizing that “the government is committed to approving this law within the current government session.” It is also taught in government schools.”
“The oil and gas law aims to manage the process of oil wealth in Iraq and achieve fair distribution, achieving optimal investment of national wealth and supporting economic and sustainable development, as well as the Iraqi state treasury,” he said. As a result, the government and the ministry continue to ratify this bill.”
He went on to say, “The government has granted a wide space for dialogue regarding the oil and gas law, and the ministry and the government hope that it will be approved,” saying, “All points of view are respected, and we must put the national interest above all considerations.”
“There were several dialogues that took place between the concerned authorities,” he said, “but in terms of the matter, the ministry drafted the law and made the necessary amendments in a way that serves the public interest.” After reaching an agreement on the draft law, the administration must submit it to the House of Representatives for ratification.”
“The oil and gas law requires consensus to be approved,” he said, noting that the ministry wrote the bill and spoke with the relevant stakeholders. The persons involved are responsible for the consensual or political component.”