Oil Ministry: Iraq desperately needs oil and gas law

The spokesman for the oil ministry official Assem Jihad said approval of oil and gas law in the current period is very important for Iraq as it strengthens contracts entered into by the Ministry of Oil with foreign companies.

And Jihad said in a statement to Agence {Euphrates News} today that “oil and gas law aimed at proper management of the oil wealth that belongs to the Iraqi people and emphasizes the coordination between the center and regions and identify the tasks and responsibilities of each of them.”

And stressed that “Iraq needs to approve oil and gas law because it gives the contracts entered into by the Ministry of Oil with foreign companies and the power of immunity, as well as putting an end to the many interpretations that come from here and there with regard to Iraq’s oil wealth.”

And called for Jihad political blocs to speed up the approval oil and gas law to resolve all crises related to oil side to be able to pass a law making the public interest above all other considerations bypassing the narrow personal interests to achieve the highest economic return to the country through the proper administration of the oil wealth. “

It is noteworthy that the adoption of the law of oil and gas, some laws are still pending in the Iraqi parliament because of political differences between the political parties.

The spin several disagreements about this law, especially between the central government and the province because there is several drafts not agree on one of them until now.