Parliamentary Energy plans to host Abdul-Mahdi, and expects $ 70 for a barrel of oil

Parliamentary Energy plans to host Abdul-Mahdi, and expects $ 70 for a barrel of oil

30/10/2014 (0:01 pm)

BAGHDAD / Mohammad Sabah

Ibrahim Bahr al-Ulum said a member of the parliamentary Commission on oil and energy, said the committee is working on a study of 10 laws sent to it by the Presidency of the Council of Representatives recently. She pointed to the oil and gas legal and budget Capers legislation that are important to it, noting that it is working on two draft law of oil and gas lingering years ago because of a dispute about the powers of the provinces.
Committee, which continues to work without naming the prime her, held three meetings so far, and is considering hosting the oil minister to ask him about the vulnerability of the country’s economy a drop in oil prices, unexpected drop to $ 70 a barrel, any loss of close to one-third of financial returns.
The global market is witnessing a sharp decline in oil prices not seen since more than two years, while Brent oil price per barrel was $ 115, and reached its price at the beginning of this month to $ 95, while arrived Wednesday to $ 86.
He says Ibrahim Bahr al-Ulum, a member of the Oil and Energy Committee in an interview with the “long”, said the committee “held three meetings have discussed the way the map for the next four years in the performance of its legislative and oversight functions.”
He Sea Science “of the things that are discussed in this successive meetings of the Committee the issue of hosting and Oil Minister Adel Abdul-Mahdi, and experts in my energy and electricity, as well as discuss the division of the Commission to the sub-committees, which include oil, electricity, gas and minerals and renewable energies sectors of the mechanism.”
And the voice of the House of Representatives, on September 8, 2014, on the standing committees, which amounted to only 26 of the Commission that the political differences unresolved subject of the presidencies of these committees.
The attention of a member of the citizen bloc, led by Ammar al-Hakim, said that “more than two-thirds of the members of the Committee attending these meetings, which means there is a clear interest by those members of the completion of a large business in the coming years,” pointing out that “the interim prime age of the Committee, MP Mehdi al-Hafez He runs the meetings of this committee until they reached an agreement on the presidency and vice Rapporteur of this committee. ”
Plans Presidency of the Council of Representatives a package of laws that describe the task such as oil and gas, which would ease the lot of the oil outstanding problems between the KRG and the federal government’s legislation, as the former oil minister, pointing out that “the Presidency of the Council of Representatives forwarded shortly before the committee on oil and energy ten laws had been reached by the previous government projects. ”
He explained Bahr al-Ulum that “the Energy Committee will review these laws and study for submission for the first reading and then voted on in the House of Representatives,” noting that “the bills include oil and gas law, and the national oil company, and the salaries of the oil ministry staff, and second amendment to the law of private investment the liquidation of crude oil No. (64) for the year 2007, the Iraqi Atomic Energy, the public budget in 2014 in the case (and the arrival of the government), and amend the Insurance Act compulsory from car accidents No. 52, and the draft exemption of foreign companies and subcontractors foreign contractors law in licensing rounds decades of fees, The bill determine producing provinces and non-oil producing share “.uenoh and former oil minister said that” some of these laws inevitably exclusively to the Committee on Energy and some shops to more than one committee of the Federal Kalmoisna that share the Legal and Financial Committee, the economy and investment, “and expressed hope” the completion of this laws and submitted to parliament in record time. ”
Attention Bahr al-Ulum that “the project of oil and gas law, which came to us recently, which includes versions of the government submitted to Parliament in 2008 and 2011.”
With regard to the possibility of hosting the oil minister in the Committee on Energy, the National Alliance MP says that “the subject of hosting and electricity and oil ministers and experts in the energy sector will be discussed at the committee meeting scheduled Thursday to determine the date of this web hosting.”
And summarizes the reasons for hosting the Bahr al-Ulum oil minister to “inform the Parliamentary Committee on the impact of falling world oil prices on the federal budget for 2014, as well as we saw the amount of oil produced and exported, in addition to inquire about the ministry’s policy for four years to come.”
It is expected by the Commission on oil continuing decline in world oil prices up to a price of 70-80 dollars per barrel of oil, and asserts that “the year 2015 will see the low prices of oil,” calling for “the preparation of the next year’s budget according to what fits with low oil prices.” And suffer most of the Parliamentary Standing Committees in the House of Representatives, and the 26 Committee, the appointment of non-technical experts. In this context, MP Ibrahim Bahr al-Ulum said that “the Commission on oil and energy parliamentary unchanged if the rest of the other parliamentary committees are free from technical experts,” noting that “some members of the committee have a long experience in the field of oil and energy.” He disclosed that his committee “made a request to the Presidency of the Council of Representatives appointed by the demanding technical experts to provide technical and professional advice.” Ares Abdullah, in turn, the other member of the Oil and Gas Committee, says that “the adoption of the oil and gas law has become one of the priorities of the oil because it will solve all outstanding problems between Erbil and Baghdad.”
Abdullah warns, in a statement to the “long”, that “the drop in oil prices will affect the Iraqi economy after Daash control several provinces,” expressing his fear of “an economic crisis in the coming years.”

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