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 Iraq's political crisis is affecting ability to legislate oil law

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PostSubject: Iraq's political crisis is affecting ability to legislate oil law   Sat Jun 16, 2012 11:32 pm

Iraq's political crisis is affecting ability to legislate oil law, says parliamentary committee

16/06/2012 20:11

ERBIL, June 16 (AKnews) - The Iraqi political crises has
negatively affected the country's ability to legislate the oil and gas
law and the country is in desperate of this law, said Iraq's
parliamentary oil and energy committee.

Member of the committee
Furat al-Shara said: "The ratification of the oil and gas law needs time
due to the country's current political crises.

"The committee is serious about the law approval but political issues reflected negatively on these efforts.

has been desperate to have an oil and gas law since 2003 due to
administrative changes. There are local governments in provinces, the
Kurdistan Region in the north and foreign companies. All need an oil and
gas law."

Iraq's Cabinet of Ministers approved a draft oil and
gas law in 2007 but the law faced objections from Kurdish observers. The
version gave more rights to Baghdad on oil revenue sharing and control
of some fields in northern Iraq and restricted the Kurdistan Regional
Government's authority on oil exploration and signing contracts with
foreign companies.

By Raman Brusk



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