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[size=35][size=35]Federal Court: obligating the Kurdistan Regional Government to hand over all oil production[/size]
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2023-02-06 | 05:25
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Alsumaria News - Politics
And the court stated, in a statement received by Alsumaria News, that “the Industrial Activity Audit Department has taken a set of measures, in order to implement the ruling of the Federal Supreme Court No. (5 / federal / 2012 and its units 110) / federal / 2019) on 2/15/2022."
According to the court, the Office of Financial Supervision decided: “The oil and gas law in the Kurdistan region No. (22) of 2007 is unconstitutional and repealed for violating the provisions of Articles (110, 11, 112, 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.”
And it obligated the Kurdistan Regional Government to “hand over all oil production from the oil fields in the region,” in addition to “following up on the invalidity of oil contracts concluded with foreign companies,” as well as obligating the regional government to “ Enable the Iraqi Ministry of Oil and the Federal Financial Supervision Bureau to review all the oil contracts concluded with regard to the export and sale of oil and gas in order to audit them and determine the financial rights owed by the region as a result of them.
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2023-02-06 | 05:25
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2,275 views
Alsumaria News - Politics
The Federal Supreme Court announced today, Monday, that it has taken a package of new measures to implement the paragraphs of its ruling related to the unconstitutionality of the oil and gas law in the Kurdistan region.
And the court stated, in a statement received by Alsumaria News, that “the Industrial Activity Audit Department has taken a set of measures, in order to implement the ruling of the Federal Supreme Court No. (5 / federal / 2012 and its units 110) / federal / 2019) on 2/15/2022."
According to the court, the Office of Financial Supervision decided: “The oil and gas law in the Kurdistan region No. (22) of 2007 is unconstitutional and repealed for violating the provisions of Articles (110, 11, 112, 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.”
And it obligated the Kurdistan Regional Government to “hand over all oil production from the oil fields in the region,” in addition to “following up on the invalidity of oil contracts concluded with foreign companies,” as well as obligating the regional government to “ Enable the Iraqi Ministry of Oil and the Federal Financial Supervision Bureau to review all the oil contracts concluded with regard to the export and sale of oil and gas in order to audit them and determine the financial rights owed by the region as a result of them.
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