The government is working towards approving the oil and gas law, with consensus being a requirement, as the Ministry of Oil confirmed on Tuesday.
Assem Jihad, a spokesman for the ministry, told the official agency that “the government is committed to approving this law within the current government session.” He added that “the ministry prepared the oil and gas law and submitted it to the government, and this law was discussed by the concerned authorities and the team formed by the regional government.” Additionally, it is covered in the government curriculum.
“The oil and gas law is designed to manage Iraq’s oil wealth and ensure its fair distribution. This will help to optimize the investment of national wealth, support sustainable economic development, and boost the Iraqi state treasury. As a result, the government and the ministry are committed to approving this law.”
The government has allowed for extensive discussions regarding the oil and gas law, and the ministry hopes it will be approved. The minister stated that all perspectives are respected and emphasized prioritizing national interests.
According to him, there were multiple discussions between the authorities involved. However, the Ministry of Law drafted and amended the legislation to benefit the public interest. The government must submit the draft law to the House of Representatives for approval after reaching an agreement.
He noted that consensus is needed for the oil and gas law to be approved and that the ministry drafted the law and met with concerned parties. The political aspect remains with the concerned parties.
