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Oil Minister: No need for the establishment of a national oil company  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Oil Minister: No need for the establishment of a national oil company

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Oil Minister: No need for the establishment of a national oil company  Empty Oil Minister: No need for the establishment of a national oil company

Post by ADMIN Mon Jul 04, 2011 10:59 am


Oil Minister: No need for the establishment of a national oil company

(Voice of Iraq) - 04-07-2011 | www.sotaliraq.com

Union said Iraq's oil minister said on Sunday the establishment of a national company to manage the energy sector in the Member State in the OPEC is not necessary and may interfere with the work of the Oil Ministry.

The Council of Ministers approved in 2009, a bill for the establishment of a national company for oil, but the legislation has struggled amid political differences and hold elections and form a new government.

Said Oil Minister Abdul Karim and coffee in a speech to the Commission on oil and energy in the Parliament that set up such a company does not add anything to the Iraqi oil sector, adding that the companies currently doing the same job.

The construction of the Iraqi national oil company in the long-awaited revival of state-owned company was founded in the sixties and merged with the Ministry of Oil in 1987, a central element in Iraq plan to bring about a boom in the oil sector struggling to take advantage of the great mineral wealth. The package raised the laws of modern law, including oil, gas and another for the sharing of revenues and thirdly to restructure the Ministry of Oil heated debate and differences between political parties for years.

The Committee on Energy in the Cabinet adjustments to the new oil law before referring it to parliament. He criticized the coffee company functions as defined by the new oil bill, which includes entry and drilling contracts for exploration, development and production contracts in addition to shipping oil and gas. He said that "the existence of two institutions have the same task of marketing the oil would certainly lead to problems."

He defended Thamer Ghadban largest adviser on energy to Prime Minister Nuri al-Maliki for the bill and said that reviving the Iraqi National Oil Company to develop the important energy sector. Anger and said that the founding of an independent company for the oil is important for the development of the sector while formulating the ministry's oil policy.

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