The law of oil companies .. Eliminates the petrodollar crisis and increases the production of crude

The law of oil companies .. Eliminates the petrodollar crisis and increases the production of crude


BAGHDAD -
The Energy, Oil and Gas Committee of the House of Representatives confirmed that the Ministry of Oil is about to vote on a new draft of the law of the National Oil Company, indicating that the new draft will include what confirms its ownership of the people and its financing to the state.

The head of the committee MP Ibrahim Bahr al-Ulum told the «Journal News», that "the oil leadership represented by the ministry began to seriously consider the revival of the National Oil Company and this project, which we have called since 2004 began to resonate with it," adding: "The ministry has been in a while Prior to the preparation of a draft new law for this company. "

He stressed that the draft law should include two basic issues. The first is that the national oil company is owned by the people and that it is financed by the state. He hoped that the ministry would succeed in submitting the draft to the cabinet and then to the parliament.
According to the head of the committee, this trend came after the "significant increase in oil production of Iraq to avoid a continuous decline in oil prices globally."

It is noteworthy that the Committee of oil and energy parliamentary hosted a number of owners advanced in the Ministry of Oil from the legal advisers and specialists in the extraction and exploration of
oil in addition to the directors of some companies to discuss with them regarding the law of the oil company and national, following the reading under the dome of parliament first reading.

"The oil industry requires centralization in the way of production and export and operation of various refining processes," said oil expert Halim Kazem.
Kazem said in a statement to «Journal News», that "the oil fields intersecting within the country, such as there is a province of more than an oil field or there are two provinces share other fields, and the production process fluctuate all over the world, may require increased productivity in a particular field And reduce the other. "

"There is a law in the petrodollar, which is similar to the law of the tribes and then we have voices rising here and there that a certain province did not receive its dues from the electrolytes, and there is chaos in the work of oil companies contracted with local governments, and there are always problems and financial dues demanded by those companies, The law should be passed to be centralized in oil production and export through the National Oil Company (SOMO). "

The expert pointed out that the Central Central Peace increases the proportion of export and production, which leads to an increase in hard currency contained in the federal budget of the state and there is no conflict of production. "
The member of the Committee on Oil and Energy Zaher Abadi told the« Journal News »," Hosted a number of advanced owners in the Ministry of Oil from the legal advisers and specialists in the extraction and exploration of
oil in addition to the directors of some companies to discuss with them regarding the law of the oil company and national, after reading the parliament under the first reading.

Abadi said that "our meeting with the specialized authorities on the oil issue is in order to proceed with the law of the National Oil Company to the second legislative reading and to reach the third reading of the vote and the importance of the maximum and the importance of the national company in economic terms that serve the country and give it a large area and provide the law sober, The law is fit for the company and away from the usual routine the country in the state departments. "

The member of the Energy Committee that "the current version of the law of the National Oil Company, which was received from the Presidency of the Council of Ministers is incomplete and does not represent the ambitions of the oil industry in Iraq, it does not exceed nine materials, and therefore requires the Committee on Energy to make more efforts on workshops and meetings with experts In order to come out in a formula that harmonizes with the oil industry in the world and serves industry in Iraq.

Abadi said that "the headquarters of the national oil company in the province of Basra because it represents the capital of Iraq's economic and then add the company's headquarters is a complementary project and provides an important economic framework with the presence of important oil institutions," noting that "was discussed during the meeting on the financing of the company and privileges granted to it And the important points that distinguish them. "
"The law of the National Oil Company will be ready to vote in the next few weeks or months," said the head of the oil and energy committee, Erezabullah.
Ares Abdullah explained that the first reading of the law has been completed and is currently being discussed.
According to the law, "Ares" that includes the separation of the National Oil Company from the Iraqi Ministry of Oil, so that directly linked to the Prime Minister of the State.

"We will meet with the Kurdistan government next week to reach a formula for agreement on the draft law, and we expect to pass it later."

Azir pointed to the admissibility of the law within the House of Representatives of all political blocs.
He was a member of the Iraqi oil and energy parliamentary committee noted on July 20 that the current version of the law of the National Oil Company does not represent the ambitions of the oil industry in Iraq.

The text of the law includes 9 items, the most prominent of which is to allow the company to invest in all oil and gas fields for all of Iraq's territory and territorial waters. It also has the right to borrow from inside Iraq or abroad to finance its investments.

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