Oil Committee calls to speed up approving Oil & Gas Law prior to end of parliament term

Baghdad (IraqiNews.com) Deputy chief of the parliament Oil & Energy Committee, Ali al-Fayadh, called to expedite ratification of the Oil & Gas Law before the end of the current parliament term.

The Oil & Gas law is one of the pending issues especially between the central government and Kurdistan Regional government where this law regulates the running of the oil resources and administration of its revenues and the contracting with foreign companies.

Fayadh stated to IraqiNews.com “The ratification of this law will protect the national production of oil and safeguard the citizens’ rights as well as reassuring the foreign companies and attract them to invest in this vital sector through founding laws that maintain these companies’ rights along with ensuring fair distribution for the state resources among the Iraqi people.”