The Oil, Gas and Natural Resources Committee stated that there are political disagreements regarding the oil and gas legislation. They also confirmed that the Kurdistan region is not a suitable location for a law that oversees the country’s oil resources. However, discussions will continue to find a solution. Today is Thursday.
During an interview with the information agency, committee member Zainab al-Moussawi stated that there are disagreements regarding the oil and gas law, particularly from the Kurdistan region. She noted that the region’s administration is ill-suited for a law that regulates the country’s oil wealth.
She stated that discussions were ongoing and a formula would soon be created to determine the Iraqi government’s ability to manage oil wealth and distribute it fairly among the population.
According to a member of the Parliamentary Oil Committee, Kurdistan is hesitant to have a law that is under the control of the federal government. This is because Kurdistan’s lands are located within Iraq and they have already returned legal revenues to Baghdad.
During a coordination framework meeting, Jassem Atwan emphasized the significance of negotiating between political parties to find common ground on the oil and gas law. He explained that enacting the law would resolve disputes and ensure fair distribution of oil wealth, eliminating any privileges or discrepancies.
For many years, the oil and gas law has been a source of controversy between Erbil and Baghdad. However, the two parties have agreed to approve this draft law within the framework of a political agreement that led to the formation of the current government.