Individual from the Parliamentary Oil and Gas Board, Ali Shaddad, uncovered who is liable for discouraging the regulation of the Oil and Gas Regulation.
During his Sunday evening hosting of the Al-Furat satellite channel program “Free Talk,” Shaddad stated that:
- The Service of Oil framed two councils to arrive at a comprehension on the oil and gas regulation that directs the connection between the district, the middle and the governorates.
- The Kurds transformed the record into a political one and what the boards came to was the locale’s solicitation to raise the roof of one barrel to $22 and this is unimaginable, notwithstanding not uncovering the oil agreements to Baghdad and their inclination because of the privacy of the data and the matter is forthcoming until this second.
– In order to pass the oil and gas law, the committees that were established were unable to resolve the issues.
– There are indications that the region is not committed to halting the smuggling of approximately 250 thousand barrels of oil per day, that Iraq is suffering financial losses, and that Kurdistan is not heeding the federal government’s requests to close this case.
– With the exception of improved and super gasoline, the government was successful in stopping the import of oil derivatives. Additionally, the fifth and sixth rounds were announced, 12 new oil and gas investment projects were referred, and the Ministry of Oil was preparing to complete the sixth and seventh rounds in the Anbar fields and Southern governorates.
- The proposition to combine the Services of Oil and Power under the title {Ministry of Energy} requires a ton of exertion and a survey of the frameworks and regulations in force in the oil and power area, including enacting the Public Oil Organization as a proactive step towards the consolidation cycle.
- There are limits that keep Iraq from arriving at a creation of 8 million and the matter can’t be carried out right now as it relies upon framework projects, send out ports and new pipelines, as the ongoing ones just oblige 4 million barrels each day, and Iraq is focused on OPEC’s choice to decrease.
- Iraq trades oil and sells it abroad, and there is oil that is utilized locally and goes to refining organizations and is additionally indicated by OPEC.
- Putting resources into gas in the southern districts of Iraq is vital and the public authority of State leader Mohammed Shia al-Sudani has prevailed in it up to this point, and the venture rate in related gas is 67% and there are projects for nothing and flammable gas in western Iraq and the Service of Oil is attempting to draw in financial backers perpetually.
- The most common way of selling oil is dependent upon worldwide business sectors and sums to $ 80 for every barrel, and the vacillation of oil costs represents a worry for the Iraqi financial plan; In any case, there is consolation from the new OPEC choice that tries to control the cost of a barrel as per the understanding.
- The public authority should make areas lined up with the oil and gas area to keep away from fears of falling and rising oil costs.
– It is against the law to transfer the management of oil company funds to the public sector in exchange for private financing and to receive their budgets from the Ministry of Finance. Ill-considered decisions in the oil sector result in a decline in production.
– The Cabinet Resolution 24600 of 2024 pertaining to oil companies was postponed, and the Minister of Oil confirmed that he would not vote on the decision. Additionally, the Minister of Oil wrote an official letter to the Prime Minister outlining the consequences of the decision, the reasons behind it, and the issues that would arise if it were applied to the oil sector. This shows that the ministry doesn’t like the decision.
- The new choice with respect to oil organizations should be dropped or corrected.
No. ( Cabinet Resolution) 24600) of 2024, gave in the thirty-third standard meeting on August 13, 2024, ignited boundless debate in political and financial circles, as conclusions contrasted in regards to correcting the depository’s portion of the benefits of public organizations and expanding it from 45% to 75%.
This choice comes quite close to financial changes pointed toward supporting the state depository.
As far as it matters for its, the Overall Secretariat of the Chamber of Clergymen explained in an explanation that a portion of the remarks and understandings that spread via virtual entertainment about this choice are off base, taking note of that the choice does exclude changing self-supporting organizations over completely to focal funding, focusing on that open organizations are as yet represented by the Public Organizations Regulation (No. 22 of 1997), and that any change requires regulation from the Place of Delegates.
The Overall Secretariat likewise affirmed that raising the depository’s portion of the benefits of public organizations doesn’t influence the costs of organizations or the pay rates of their representatives, making sense of that this technique had recently been carried out in past legislatures to help the state depository. She said that the adjusted percentage only has to do with the distribution of distributable profit among profitable businesses and has nothing to do with revenues or costs.
