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{Oil and Gas}.. Postponed until further notice
The first 2023/08/31
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Baghdad: Shaima Rasheed
Many explain the reason for the delay in legislating the oil and gas law to the political dimension that is governed by consensus between the parties to the political process, while it is being relied upon that the law will be approved in the current parliamentary session if it is completed by the government.
A member of the Oil, Gas and Natural Resources Committee in the House of Representatives, Sabah Sobhi, told Al-Sabah: “The oil and gas law is still in the process of writing its draft, which is the first stage in enacting any law. This law needs a comprehensive political consensus, as it is a sensitive law.” It needs deep study and discussion by the political parties.
He added, "The law includes many dimensions, the most important of which is the economic dimension, which is the most important, because the enactment of this law leads to the restructuring of the Iraqi economy, and the second dimension is the legal one, because until now there is a legal vacuum with the existence of a constitutional article related to oil that requires the enactment of a law of its own."
And he continued, "As for the third dimension, it is political, given that the issue of the oil commodity is very important from a political point of view, as it is the main revenue on which the economy and the Iraqi state depend, because 90% of the country's budget depends on oil imports, so we need to legislate
this law, and another after It is the technical dimension because oil is full of techniques from exploration until we reach sale, so we are in the process of enacting an important, complex, sensitive and fateful law for Iraq.
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