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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Differences between the center and the region may plague the new draft oil law

    Rocky
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    Differences between the center and the region may plague the new draft oil law Empty Differences between the center and the region may plague the new draft oil law

    Post by Rocky Sun 03 Sep 2023, 6:52 am

    Differences between the center and the region may plague the new draft oil law

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    Economy News-Baghdad
    The economist, Nabil Al-Marsawi, confirmed that there are real differences between the center and the region that may plague the new draft oil law.
    The expert summarized in a post seen by "Al-Iqtisad News", that "the first difference is stipulated in Article 5 of the new draft oil and gas law, provided that the Federal Council is established under the chairmanship of the Prime Minister or whoever authorizes him, and includes in its membership each of the Federal Minister of Oil, the Federal Minister of Finance and the Federal Minister of Planning." And the governor of the central bank and the minister of natural resources in the region and the governors of three oil-producing provinces that are not organized in a region and three experts.
    He added, “Decisions are taken by majority, while the region believes that the Federal Oil and Gas Council should include in its membership both the federal government (ministers of oil, finance and planning) and the regional government (ministers of natural resources, finance and planning) and the governors of oil-producing governorates that are not organized in a region. The council is rotating and decisions are taken unanimously
    He continued, as for the second difference, the draft law states in Article 8 first, which is that the Federal Ministry of Oil manages oil and gas producing fields throughout Iraq in coordination with the producing region and provinces. As for the vision of the region, it is summarized as follows: The federal government manages the oil and gas extracted from the current fields (which were extracted, developed and commercially produced before the constitution expired in 2005) with the regional government and the producing provinces that are not organized in a region. The government of the producing region or provinces shall have the authority concerned with managing oil and gas in the current and future fields (which are the fields from which oil and gas have been extracted, developed and produced commercially after the constitution runs out).
    And he added, “While the third difference is that Article 11 of the draft serious oil law stipulates that the Federal Council is the one that gives approval to oil licensing contracts, while the region sees that it is the competent authority on exploration, development and production contracts or any other contracts with the contractor who falls The choice is upon it, and this does not require the approval of the Federal Council.”
    He continued by saying, “The fourth difference in Article 16 of the draft law is that the ministry is the supreme authority responsible for the obligations of the contractors, while the region believes that the competent authority in the region is responsible for the obligations of the contractors in the contracting areas within the region, while the fifth difference is in Article 24 of the draft law.” The law states that the main pipelines are owned by the federal government, while the region says that the federal government, the regional government, and the producing provinces establish and own pipelines to transport oil and gas.
    He concluded by saying that “the sixth difference is that the new draft oil law did not include any article indicating the marketing of oil and the party responsible for it, but as is currently in force and confirmed by the Federal Court, the Ministry of Oil represented by SOMO is the only party responsible for marketing all Iraqi oil regardless of Its production site, while the region sees that the Federal Council sets marketing and sales policies, and the sale process is carried out by marketing companies belonging to the government of the region or the producing provinces that are not organized in a region.
     


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    Added 09/03/2023 - 1:14 PM
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