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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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    Political Conflicts Obstruct Oil and Gas Law: The Future of Iraq’s Wealth at Risk

    Rocky
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    • Post n°1

    Political Conflicts Obstruct Oil and Gas Law: The Future of Iraq’s Wealth at Risk Empty Political Conflicts Obstruct Oil and Gas Law: The Future of Iraq’s Wealth at Risk

    Post by Rocky Sun 24 Nov 2024, 4:21 am

    Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

    [size=52]Political Conflicts Obstruct Oil and Gas Law: The Future of Iraq’s Wealth at Risk[/size]

    [size=45]Political conflicts are escalating in Iraq, casting a shadow over the long-awaited oil and gas law, disrupting efforts to regulate the exploitation of oil wealth and its distribution between the regions and the federal government.[/size]
    [size=45]This disruption raises fears of continued disputes that threaten the stability of the Iraqi economy and keep the oil wealth file in the circle of political tensions.[/size]
    [size=45]Energy expert Saadoun Al-Ahmad stated that “suspending the oil and gas law is costing Iraq huge economic losses due to the absence of a legal framework regulating the management of oil wealth, which leads to the exacerbation of disputes between the federal government and the regions.”[/size]
    [size=45]He stressed that "the absence of the law negatively affects attracting foreign investments and weakens the confidence of international companies in the investment environment in Iraq."[/size]
    [size=45]Al-Ahmad pointed out that “the solution lies in political consensus and adopting a law that guarantees the fair distribution of wealth, while establishing transparent mechanisms that allow the regions and the government to work in harmony, which contributes to the stability of the oil sector and guarantees the rights of all parties.”[/size]
    [size=45]For his part, Ali Abdul Sattar, a member of the Parliamentary Oil, Gas and Resources Committee, confirmed that the oil and gas law has been facing difficulties since 2008.[/size]
    [size=45]Abdul Sattar said, "The oil and gas law faces difficulties within the House of Representatives because it contains a political aspect between the region and the center."[/size]
    [size=45]He added, "The law regulates financial matters and oil management for all governorates, especially the governorates producing oil and gas," noting that "the reason for the law's suspension is that it contains points of contention with the region."[/size]
    [size=45]He explained that "the law is still in the government's registry and has not been sent to the House of Representatives, despite the ongoing dialogues and discussions between the Baghdad government and the regional government."[/size]
    [size=45]He added, "The dispute still exists between Baghdad and Erbil over the oil file, and we are waiting for it to be resolved and for the law to be sent to the House of Representatives for discussion and approval.[/size]
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