Oil Minister: Energy sector will witness reforms and restructuring
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Economy News - Baghdad:
Deputy Prime Minister for Energy, Thamer Ghadhban, said the Iraqi government is keen to develop the energy sector and facilitate procedures for investors, noting that the energy sector will witness reforms and restructuring.
`` We are committed to a clear policy towards the energy sector, which is of great interest to the Council of Ministers and the Iraqi government, as well as to the legislature represented by the oil and parliamentary energy committee, '' Ghadhban said in his speech at the 2019 Iraq Energy Forum conference attended by Al-Iqtisadiah.
He added that "this sector is the main engine of the economy because it accounts for more than 90% of the financial allocations in the budget law annually."
"We attach great importance to the continued activity of this sector and subject to clear policies aimed at Iraq to remain a major producer of oil and then gas."
He stressed that "the energy sector will see reforms and restructuring, which is the ministries to prepare policies and legislation while the companies take over the production process."
He continued that "the Ministry of Electricity is keen to implement large projects in the field of gas investment and stop waste," pointing out that "the Iraqi government is keen to develop and reform the work environment and facilitate procedures for investors and end the bureaucracy."