Clare: After years of delay and disagreement, an agreement was reached by the “majority” to pass the oil and gas law
Today, Monday, the Kurdistan Democratic Party revealed the existence of a political agreement to pass the oil and gas law with the start of the new legislative term of the House of Representatives.
The leader of the party, Wafaa Muhammad Karim, told (Baghdad Today) that “there is a political agreement between all political blocs and parties to pass the oil and gas law because of its importance, with the start of the new legislative term of the House of Representatives.”
And Karim said, “This law, which will regulate the relationship between Baghdad and Erbil with all the oil and financial files, will be passed by the parliamentary majority. The agreement to pass the law took place between the blocs and parties of the State Administration Coalition.”
The Oil and Gas Law, which has been awaiting legislation in parliament since 2005, stipulates that the responsibility for managing the country’s oil fields should be entrusted to a national oil company, and it should be supervised by a federal council specialized in this matter.
But since 2003, Baghdad and Erbil have been at odds over the issue of managing the region’s oil fields.
Baghdad says that the region does not declare real oil export amounts and does not hand over those amounts to it, while Kurdistan says that exports from the oil fields in its territory must be subject to its management, whether in terms of granting licenses for new exploration , managing existing fields, or controlling production and export. For the destinations he chooses, or contracting for the purchase and development. LINK