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[size=36]The Minister of Oil confirms commitment to enhancing standards of transparency and governance in wealth management[/size]
Economy | 05:58 - 11/20/2023
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Mawazine News - Baghdad,
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, confirmed today, Monday, the commitment of the government and the ministry to enhancing standards of transparency and good governance in the management of oil and gas wealth through disclosing and publishing accurate data on the reality of production, export, and revenues with high transparency, and in accordance with requirements. Transparency Initiative standards.
The Ministry stated in a statement received by Mawazine News, that “Abdul Ghani chaired the meeting of the Board of Trustees of the Natural Resources Transparency Authority, in the presence of the Executive Director of the Authority, Alaa Mohieldin, and members representing the relevant ministries, international companies, and civil society.”
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, said, according to the statement, “The Ministry directed the national oil formations and international extractive companies operating in Iraq to provide the necessary facilities for the success of the Authority’s work and to disclose the data required to issue its annual reports in accordance with international standards.”
Abdul Ghani added, "Over the past years, the Ministry has continued to cooperate with the Authority and the relevant and supervisory authorities, in addition to positive interaction with all initiatives that achieve the goals of good governance and transparency in the oil sector."
For his part, the Executive Director of the Authority, Alaa Mohieddin, praised the support of the Deputy Prime Minister for Energy Affairs and Minister of Oil for the work and tasks of the Authority to enhance Iraq’s role in building bridges of trust with the international community.
Mohieddin pointed out, "The meeting included a review of the tasks, duties, and obligations of the concerned parties to achieve common goals, in addition to examining the required standards and discussing the continuation of cooperation and strengthening the relationship between Iraq, the World Bank, and the International Secretariat of the Transparency Initiative."
The Ministry stated, "At the conclusion of the meeting, it was emphasized to adhere to the standards and principles approved by the International Secretariat of the Transparency Initiative, and to work to develop the work of the Transparency in Natural Resources Authority."
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