Sudani directs the formation of a ministerial committee on the oil and gas law

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Sudani directs the formation of a ministerial committee on the oil and gas law

On this Wednesday, the Prime Minister, Mohamed Shia Al-Sudani, issued an order to establish a ministerial committee for the oil and gas legislation.

The Prime Minister’s media office released a statement confirming that a meeting was held today to discuss the draft federal oil and gas law. The meeting was attended by political leaders, the Ministers of Foreign Affairs, Oil, and Industry, and an advisor to the Minister of Natural Resources in the Kurdistan Regional Government. Additionally, several technical and legal advisors and experts were present. Prime Minister Muhammad Shia’ al-Sudani chaired the meeting.

He stated that during the meeting, they reviewed the latest drafts of the law, including its details and provisions, as well as the work done by the technical and legal committees. They are currently working on refining the final draft of the law in preparation for its approval in the Council of Ministers. Once approved, it will be submitted to the House of Representatives for legislation, in accordance with legal and constitutional contexts.

During the meeting, Al-Sudani emphasized the significance of the draft oil and gas law, stating that it is a fundamental and crucial legislation that unifies and strengthens Iraq. Despite its importance, the law has been delayed for several years. In light of the country’s current situation, it is essential to enact the law and utilize its potential benefits in various fields and sectors. Moreover, implementing this law can also help resolve many of Iraq’s persistent issues. Al-Sudani further highlighted that some governorates have yet to utilize their natural wealth, hindering the country’s development.

He emphasized that the law is a crucial aspect of the ministerial curriculum, which was approved by the House of Representatives. Its implementation will consider constitutional principles to ensure an equitable distribution of oil wealth, promote economic growth in all sectors, and support the government’s priority of economic reform.

Al-Sudani has directed the formation of a ministerial committee that will oversee technical dialogues between the Federal Ministry of Oil and the Ministry of Natural Resources in the region. The governors of the oil-producing provinces, including Basra, Maysan, Kirkuk, and Dhi Qar, as well as the general managers of government oil companies, have been invited to participate in these ongoing technical dialogues regarding the law. It has been stipulated that these dialogues will be followed by the completion of political dialogue to agree on the presentation of the draft law.