Ministry of Oil: Approval of the oil and gas law depends on consensus
Ministry of Oil: Approval of the oil and gas law depends on consensus
10-31-2023
The Ministry of Oil confirmed, on Tuesday, that the government is proceeding with approving the oil and gas law, noting that its approval is subject to consensus.
The ministry’s spokesman, Assem Jihad, stated to the official agency that “the ministry prepared the oil and gas law and submitted it to the government, and this law was discussed by the concerned authorities and the team formed by the regional government,” stressing that “the government is committed to approving this law within the current government session.” It is also part of the government curriculum.”
He added, “The oil and gas law aims to manage the process of oil wealth in Iraq and achieve fair distribution, and thus achieve optimal investment of national wealth and support economic and sustainable development, as well as support the Iraqi state treasury. Therefore, the government and the ministry are continuing to approve this law.”
He explained, “The government has granted a wide space for dialogue regarding the oil and gas law, and the ministry and the government hope that it will be approved,” adding, “All points of view are respected, and we must put the national interest above all considerations.”
He pointed out, “There were several dialogues that took place between the concerned authorities, but as far as the matter was concerned, the ministry drafted the law and made the necessary amendments, in a way that serves the public interest. It remains for the government to submit the draft law after agreeing on it to the House of Representatives for approval.”
He pointed out, “The oil and gas law needs consensus to be approved, as the ministry drafted the law and met with the concerned parties. As for the consensual or political aspect, that remains with the concerned parties.”
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