Calls for speedy oil and gas law legislation Monday 28 October 2019

Calls for speedy oil and gas law legislation

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Monday 28 October 2019


Calls for speedy oil and gas law legislation



As part of the reforms announced by the government, the government pledged to 
continue to address parliament and the legislation of the oil and gas law long awaited by the Iraqi street, because of its importance in establishing a clear and transparent oil policy, which leads to the organization of the oil relationship between the center and the region and to the proper dealing between companies Iraqi and foreign investors and oil companies and, most importantly, the equal distribution of revenues to achieve the country's development.
Strategic factors
In this regard, oil expert Hussein Al-Marzouq told Al-Sabah: "The legislation of this law has great economic feasibility and works to achieve several strategic factors, including attracting the oil companies that are known for their closeness, and drawing up a clear policy that makes oil institutions competitive, as These factors contribute to the advancement of the reality of public oil companies and to perform their role effectively, which leads to the blocking of the avenues of financial and administrative corruption."
Al-Marzouq added that "the oil and gas law establishes and legislates a legal cover for oil operations in Iraq that give legitimacy to exploration, extraction and production, which has a weight in the international and international environment, especially since it regulates the relationship between Iraq and the producing and non-producing countries and draws transparency in Dealing, as will be an important reference to prevent the differences between the Center and the Kurdistan Region, thus leading to an increase in the production and storage of crude oil and gas emitted during extraction processes, which need a reference to explain how they work, market and export."
 
Production sectors
"The delay in passing the oil and gas law has a negative impact on the country's economy, which has become mainly dependent on oil revenues, which in turn has caused paralysis in other productive sectors," he said, noting that "the country's oil wealth can support and do sectors that are not able to support and do. Industry, agriculture, construction and construction that contributes to solving the housing crisis, without exporting it to countries 
The other". 
The Prime Minister announced the signing of an agreement with Norway during the norwegian prime minister's recent visit to Baghdad, which includes cooperation under the slogan "Oil for Development", which the government is working to achieve, reviving the development process in all provinces and driving the economy.
Al-Marzouq explained that "there is a hierarchical relationship between the oil and gas law and other laws, including the National Oil Company Law, the Investment Law and other service laws, and it also paves the way for legislation and the application of important laws concerning agriculture and industry." Petrochemicals on the one hand and fertilizers on the one hand
 Other".
 
Employment employment
As for the foundations for the development of the oil sector, Al-Marzouq pointed out that "its development is through the formation of a higher council through which the work of this vital sector is managed, which is expected to achieve a significant increase in the movement of work by employing large numbers of workers in this sector when this happens."
He explains that the formation of this council will establish a modern and sophisticated system for managing oil operations in Iraq, including the development of long- and medium- and short-term strategies, policies and plans, while expanding the use of direct effort in the Iraqi and foreign public and private sectors to carry out operations. Oil in Iraq, based on the latest technology and economy 
Market".
However, the view of Iraq's oil wealth has become local, al-Marzouq said, "which is that each region views what is below its territory as the property of the region, and contrary to the constitution that oil belongs to the entire Iraqi people, the principle of distributing the benefits of oil among all provinces must be followed in a way that 
Equal.""

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