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National Oil Company does the Iraqi economy
19/3/2018 12:00 am [rtl]BAGHDAD / Farah Al-Khafaf The number of experts and specialists approved by the House of Representatives to the law of the formation of the Iraqi National Oil Company "an important achievement" will have a positive impact on the Iraqi economy. "The approval of the law of the Iraqi National Oil Company is an important turning point in the management of oil resources in the country," said oil expert Hussein al-Marzouq. Export ports pointed out that "Among the most important features of the law are:" Management, development and operation of producing fields and fields discovered and undeveloped, in addition to concluding contracts for exploration, production and export, and development of exploration and production, transport, storage and marketing, as well as management of service contracts concluded in rounds Licensing, management and operation of the main oil pipeline network and ports of export. " Financial independence The text of the law stipulates that "a public company called the Iraqi National Oil Company shall be established and shall have the moral personality and financial and administrative independence. It shall be represented by its chairman or its authorized representative. It shall be linked to the Council of Ministers. The company's center shall be in Baghdad and have branches in the producing governorates and offices inside Iraq at the request of its Chairman and the approval of the Council. The administration, and outside Iraq after the ratification of the Council of Ministers, as it exercises its work in all the territory of the Republic of Iraq and its territorial waters and outside Iraq on behalf of the Iraqi state. The specialists of the "morning" that the company's law put points on the letters on the management of the oil process, including the oil fields, as he stressed that the company exercises its work in all the territory of Iraq, that is, the Kurdistan region is covered by this step. The increase in imports pointed to the importance of passing the company law , expecting to increase financial imports with low financial costs, as well as providing thousands of jobs for graduates and others. Oil Minister Jabbar Ali al-Luaibi has confirmed that the parliament's vote on the restructuring of the National Oil Company is a step forward to open new horizons to develop the oil and gas industry in Iraq. National Economy warned Allaibi in a statement that " the fruits of the results of the restructuring of the company Christsdha Iraq after years and would be great on the development of the oil and gas and infrastructure levels, as well as improve the levels of performance of employees in the oil sector, in addition to the development of the work of the private sector in the country , which will be "The laws and regulations in general are not without the presence of observations by concerned parties, interested parties and experts, and can be taken when there is a need to amend this paragraph or that in accordance with the requirements of the public interest."[/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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