Oil Plant_17-2817

 

Expectations of the imminent parliamentary passage of the oil law.

May 8, 2013

expected the Commission on oil and energy parliamentary exit the draft final “for the oil and gas law during the next term,” especially after the bilateral agreements between the province and the center, confirmed the possibility of the integration of all drafts of the proposed out of the law and one that meets the wishes of the various parliamentary blocs and political rights.

The importance of the adoption of this law in its ability to double the revenue of the country’s financial, as well as put it controls a firm to manage the oil wealth, which confirmed the constitution as “the property of the Iraqi people.”

Said Rapporteur of the Commission on oil and energy Qasim Mchkta the importance of expediting the approval of oil and gas law, noting in interview for “Center Brief for the Iraqi Media Network,”

The law of oil and gas from the laws very important that must speed up the approval.

said Mchkta to the presence of many previous attempts that have sought to enactment of this Act because of its importance, most recently set up a committee quintet to agree on a new version. between Mchkta the importance and seriousness of the discussions that took place between the delegations of the central government and the Kurdistan region recently, which is expected to lead to the adoption of the law as soon as possible, especially since the atmosphere are suitable and appropriate for the payment approval process and consensus on one of the drafts of the three. was the Governments center and the region have agreed to resolve the seven-point form axis of disagreement between the two sides, including the resolution of oil and gas law. coincided agreement of Arbil and Baghdad on the law with the announcement on Tuesday of the oil and energy parliamentary, which has shown their ability to integrate drafts of the three within the House of Representatives كمقترحات for oil and gas law draft and one out in a consolidated version being displayed To vote in Parliament.

A member of the Committee MP Hassan donation to “Center Brief for the Iraqi Media Network,” that “most of the points in the drafts submitted by the political blocs agreed and controversial points not more than five points all related to contracting powers, production and disbursement Finance and استحصالها”. He gave that “it only requires the existence of a political will to resolve then we will be able to reach solutions to all points of contention that we can not serve as the parliamentary agreement on one of the points can be placed paragraphs represent the points of view and go with them to a vote in parliament, which would be al-Faisal in determining which is better” . and the Attorney “was supposed to go to the scholars of international law and the use of the existing laws in the world and adopt a law for oil and gas in the country, taking into account the suitability of the economic reality in Iraq.”

The problems of failure to approve oil and gas law, in the absence of a standard format for decades oil concluded by Iraq with major international companies in this field, especially since the center depends formula differs from formula contract approved by the province, and moreover, the economists emphasize the importance of the law in being treated lapses experienced by the oil industry in Iraq, and its potential to enhance revenues the country’s financial, leads to growing موازناته annual, is that the most prominent pros to be achieved in the shadow of approving the law and according to economists, is to increase the export capacity of Iraq, and the development of processes and Extraction exploratory it.

noted that the Commission on oil and energy Parliament has three drafts of projects, oil and gas law is the draft of the year 2007, and the draft government and draft a proposed law committee, but all of these drafts are not acceptable to the political parties in parliament. Article (111) of the Constitution reads as follows: “Oil and gas are the property of all the Iraqi people in all regions and provinces, “while Article (112) reads as follows:” First: The federal government will administer oil and gas extracted from current fields with the governments of producing regions and provinces, to be distributed and ارداتهما fairly commensurate with the population distribution in all parts of the country.

Source: Currency Newshound and the morning newspaper Iraq – http://www.alrafedain.net/index.php?show=news&action=article&id=99749

 

Blue’s Comments: The importance of the adoption of this law in its ability to double the revenue of the country’s financial, as well as put it controls a firm to manage the oil wealth, which confirmed the constitution as “the property of the Iraqi people…Looks like they are passing the Dinar (Buck) onto the next Term Member’s..ummm…jp/Blue

Iraq Oil Commission anticipates final draft of Oil Gas and HCL law.

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