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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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    Failure to pass the oil and gas law hinders investment and disintegrates national unity

    Rocky
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    • Post n°1

    Failure to pass the oil and gas law hinders investment and disintegrates national unity Empty Failure to pass the oil and gas law hinders investment and disintegrates national unity

    Post by Rocky Mon 13 Nov 2023, 7:12 am

    [size=38]Failure to pass the oil and gas law hinders investment and disintegrates national unity[/size]


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    November 13, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: Warnings prevail that not approving the oil and gas law in Iraq will lead to many negative consequences on the Iraqi economy and on national unity in the country.
    The continuation of disputes between the federal government and the Kurdistan Regional Government over the management of oil and gas in the country would hinder the process of economic development in the country and lead to more political tension. The lack of a clear law regulating the oil and gas sector will lead to the reluctance of foreign companies to invest in this sector. , Which will deprive Iraq of great investment opportunities.
    The representative of the Patriotic Union of Kurdistan, Nermin Maarouf, says that the lack of consensus between the political blocs is the main reason for delaying the approval of the oil and gas law, stressing the need for the two parties to reach long-term strategic agreements.
    Former Kurdish MP Jihad Hassan considered that the solution to the region's problems with Baghdad is through approving the oil and gas law, noting that the Sudanese is cooperating and trying to solve the problems, but there are parties trying to create crises.
    The Oil and Gas Law stipulates that all oil and gas fields are state property, and gives the central government the authority to manage these fields, but the provincial government rejects this law and continues to manage the oil fields in Kirkuk according to its own laws.
    It is expected that the adoption of the oil and gas law will end all problems and disputes between Baghdad and Kurdistan, as it guarantees the rights of all.
    Representative Sherif Suleiman explained that Parliament will need a lot of time and discussions to mature the oil and gas law in a way that serves all governorates and is consistent with the constitution.
    The leader of the Kurdistan Democratic Party, Wafa Muhammad, believes that the oil and gas law is important because it will determine the proportion of the Kurdistan region and the level of oil delivered to the federal government.
    In 2022, the Federal Court issued a decision requiring the delivery of oil produced from the oil fields in Kirkuk to the central government, however, the Kurdistan Regional Government refused to implement this decision.
    It is expected that the passage of the law will increase the stability of the oil and gas sector in Iraq, improve the efficiency of managing oil resources, and also lead to an increase in oil revenues for the Iraqi government, which can be used to finance economic development and social projects.
    The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, says that accelerating the adoption of the federal oil and gas project law in the House of Representatives as quickly as possible will establish a stable national road map for investment and production of the country’s primary sovereign resource, which is oil and gas.
    Prepared by Muhammad Al-Khafaji
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