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Parliament forms a subcommittee to review the applicable oil laws
Iraq 10/15/2023
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Baghdad: Muhannad Abdul Wahab
The Oil, Gas and Natural Resources Committee announced the formation of a subcommittee to reconsider the petroleum laws in force, noting that some of them may need to be amended, changed, added, or enacted a new law to keep pace with global oil developments.
Committee member Bassem Al-Gharibawi said in an interview with “Al-Sabah”: “This week will witness the arrival of the final report from the committee regarding reconsidering and following up on the laws related to oil in force,” indicating that “the committee will adopt the report in discussing one law after another and see if we We will be able to change, amend, or legislate a new law, and it will become clear in the coming days after the committee’s report which laws need to be considered.”
Al-Gharibawi added, “Until now, no new law has arrived from the government, while the legislation of the oil, gas, and natural resources law is part of the government program and is one of the most important laws,” pointing out that “the joint committee will not be able to complete its work on the law due to political differences and incompatibility.” Until now, between the region and the center.”
Regarding other laws, he explained, “There are other laws, including the Crude Oil Investment Law and the laws regulating the work of the Ministry of Oil. A subcommittee was formed to follow up on oil legislation following many meetings to amend the laws in force that have been in effect since the 1970s.”
the past " .
The representative stated, “The committee asked the subcommittee to urge oil companies to reconsider their internal regulations, given that the applicable laws determine the scope of work, and a proposal for a new oil law may be presented in line with global developments.”
Edited by: Ali Abdel Khaleq
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