The Oil, Gas, and Natural Resources Committee confirmed today, Tuesday, October 17, 2023, its need for 6 months to reach an agreement on a draft oil and gas law that is acceptable to all parties, while also indicating that the committee formed by the Kurdistan Regional Government presented a vision for an oil and gas law to the Ministry of Oil.
Representative Ali Shaddad, head of the Legislation Committee in the Oil, Gas, and Natural Resources Committee, told Al-Sumaria News, “This committee (Legislation Committee) is one of the important subcommittees in the parliamentary oilandGas Committee, and it is a committee concerned with legislation and laws for the oil and gas sector.”
Regarding the results of today’s meeting, Shaddad stated, “In this meeting, the Director General of the Legal Department and a group of jurists were hostedOil Ministry” , saying, “We have a group of laws in the oil sector that need amendments, and 7 laws were discussed in today’s meeting related to the oil and gas sector, most notably amendments to the National Oil Company Law,” pointing out that “most believe that the National Oil Company Law has been repealed before.” The Federal Court, but the fact is that certain of its provisions have been canceled and the establishment of this corporation has been halted, and therefore we require a set of adjustments so that this legislation may see the light of day once more, and these are the amendments.
He continued, “One of the most important laws is the oil and gas law, and there are a series of meetings that reached 6 meetings, 3 of which were with the committee formed by the regional government and 3 meetings in which the governors and representatives of the oil-producing governorates were hosted,” pointing out that “Oil MinistryI have completed a preliminary draft that incorporates proposals from both the Kurdish and oil-producing regions, and we will need to meet again on this subject in order to establish a consensus on the oil and gas legislation.” “Perhaps there will be a delay during the next two months due to council elections,” Shaddad remarked.
Iraqi regions, and we need six months to create a draft oil and gas legislation that is acceptable to all parties,” saying that “the regional government’s committee offered a perspective on the oil and gas law to the Oil Ministry.”This vision consists of the texts and criteria that the regional administration wishes to see in the legislation.”
“We are counting on the first reading of the project in the third legislative year,” he continued, “and this is what we emphasized with the Oil Ministry.”And reaching a unified vision and draft, as we do not accept that it be more than one draft,” adding, “There will be fatigue and anger on the part of some parties, butIraqWe need this law.”
He went on to say, “In this committee we have a group of new projects, such as the draft carbon footprint law and also the draft oil-agricultural coexistence law, and this is one of the important projects,” and he added, “it was agreed today that there will be a representative from some companies in the oil and gas sector.” The Legislation Committee in the Parliamentary Oil and Gas Committee is tied to it.”
The Parliamentary Oil and Gas Committee met earlier today with the subcommittee constituted by the committee to discuss legal revisions (legislation), including the Oil and Gas Law and the National Oil Company Law, according to Al-Sumaria’s reporter.