Oil and energy Committee: the coming days will see a vote on the formation of the Iraqi national oil company

Baghdad (News) …Oil and Energy Committee revealed the representative that the coming days will see a vote on the formation of the Iraqi national oil company

Member of the Parliamentary Committee on oil and energy Awad Al-Awadi told (News Agency news) on Friday that the Iraqi national oil company was abolished in 1986 by the previous Government that doesn’t want to Iraq and all of its assets were transferred to the South oil company.

He added: the House faster enactment INOC was reading first and look forward to be determined by the Committee on oil and energy parliamentary second reading in order to vote and put this company in the estuary.

And between Al Awadi: there were hearings and dialogue sessions with the Ministry of oil and the oil Ministry experts and former oil ministers and all persons interested in the oil sector and everyone has made its own contribution, I see.

Al-Awadi said: the Ministry of oil has fears create INOC in turn put some observations made by the Committee on oil and energy into consideration, will be tabled in second reading and that there was a need to modify the law firm it in these notes is modified so that there is coordination between the national oil company and the oil Ministry for the benefit of Iraq.

Al-Awadi said: that Iraq moved away from oil and oil industry technology and even oil laws nearly 30 years and this avoids a significant impact on the oil industry and to work in the oil Ministry as it not connect with evolution in laws, legislation and technology of oil with the world so there are large distances between us, between oil-producing countries.

Al-Awadi said: that the country now need such laws being given more space to global corporations to come work in Iraq and batamananat give more reassurance to the Iraqi people through concrete and new laws begin as needed and save the citizens ‘ rights.

According to specialists, despite assurances made by some specialists in the oil and gas which has not seen the light moment might be the biggest barriers to founding law of the company for fear of the intersection of laws if passed the draft national oil company all the obstacles facing it long stand at the threshold of conflict between the Prime Minister and the Presidency of the Council of representatives on implementing the topic might be the focus of a dispute between the two and will probably not be resolved easily