Parliamentary Committee: The oil law is subject to political consensus
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Baghdad: Shaima Rasheed
The Parliamentary Oil, Gas and Natural Resources Committee clarified that the draft oil and gas law is still with the Ministry of Oil and has not yet been submitted to the Prime Minister, and Parliament has nothing to do with the delay in approving the law, which is subject to political consensus, while it indicated that reducing oil production affects the country’s budget situation.
In an interview with Al-Sabah, committee member Bassem Ngheimesh said: OPEC countries are committed to reducing production in order to maintain oil prices, which represents a common interest for member states, noting that the Ministry of Oil has important projects that can compensate for the reduction in production.
He pointed out that the Karbala refinery will operate at full capacity, as well as the Al-Samoud refinery in Baiji during the next six months, which will reduce the import of petroleum products from abroad.
Naghmish pointed out that the fifth licensing rounds, their activation, and the fifth and sixth annexes thereof, will all lead to self-sufficiency in petroleum products and fill a large portion of the gas imported from Iran, indicating that any decision taken to reduce production affects budget revenues.
He stressed that the draft oil and gas law is still in the Ministry of Oil due to the political incompatibility between the center and the region, despite the formation of joint committees, but in the recent period they have not resumed their work.
Edited by: Adhraa Juma
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