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The Oil, Gas and Natural Resources Committee confirmed, on Thursday, that the oil and gas law requires a comprehensive agreement and in-depth discussion by the political parties.
Committee member Sabah Sobhi told the Official Gazette, “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, being a sensitive law that 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."
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.[/size] [size=30][You must be registered and logged in to see this link.]
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