A major domestic objection to the national oil company and why?

A major domestic objection to the national oil company and why?

24/03/2018 10:10

A major domestic objection to the national oil company and whyTrend Press

The oil-producing provincial councils on Saturday criticized the law of the National Oil Company, while calling on President Fuad Masum to refrain from approving it.

“The first of our comments on the law related to the exclusion of opinion and the position of local governments to participate in the drafting of a law for them as oil provinces with legal rights and constitutional, while the involvement of the Ministry of Resources Natural in the Kurdistan region. ”

He stressed that “the committee will raise a request to the President of the Republic, to prevent him from the ratification of the law of the oil company, and in the absence of the President, the resort to the Federal Court in order to involve local governments, specifically Basra province and get a seat in the management of the company.

He pointed out that “the committee found that the National Oil Company will restrict the powers of production and extraction companies and limit them, especially the Basra Oil Company, which will be part of the company’s system, because it will share the powers and production and extraction with the rest of companies such as oil companies Dhi Qar and Maysan and others.

He added that “the company’s profits will go 90 percent to the public budget, while the rest of the profits distributed to the combined companies and go to the proportion of the citizen fund, and another to the reconstruction fund and the generational fund.”

In the same context, the newspaper quoted the head of the Committee on Energy for Oil and Gas Affairs in the Council of Maysan, Rahi al-Bezouni, as saying that “the local government will report to the Presidency of the Republic indicating the damage that will be inflicted on Missan after the adoption of this law because it exceeded Article 112 of the Constitution, The board of directors of the company only, and marginalization of oil-producing provinces. ”

He explained that “this article put the federal government and the province and the provinces producing at one level in relation to the management of oil and gas extracted from the existing fields,” stressing “the need for the federal government and the governments of the provinces and provinces producing joint strategic oil policy.”

He considered that “there is discrimination against the Kurdistan region from the rest of the provinces, while the Constitution did not exclude any material, but was merged with the provinces that are not organized in a province, and this affects the shares of financial, legal and administrative.