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Iraqi Kurdistan govt approves bills to regulate the management of oil wealth and its revenues
The government’s cabinet of Kurdistan region.
November 12, 2014
ERBIL-Hewlêr, Kurdistan region 'Iraq',— Kurdistan Regional Government (KRG) ratified in its session on Wednesday, led by PM Nechirvan Barzani the draft law of (Kurdistan company to explore and produce oil) and the law of (imports of oil and gas fund company in Kurdistan region).
A statement by KRG said that “The government’s cabinet of Kurdistan region held today its usual weekly session, adding that Barzani spoke at the beginning of the meeting about attending Kurdistan parliament’s session for oil and gas, which was held last Monday to brief lawmakers on oil file and problems with Baghdad in this regard.
Barzani also talked about complaints of MPs in the delayed response to inquiries by the ministers of KRG, calling for the preparation of a mechanism to answer queries in the legal date, which is 15 days.
Kurdistan Prime Minster demanded to take the issue of questioning and follow-up and control of the affairs of the parliament and government ministries with full coordination with the Parliament and not to neglect their inquiries.
The Minister of Natural Resources, Ashti Hawrami submitted the first paragraph of the meeting that took place to discuss the draft law (Kurdistan company to explore and produce oil) and after the presentation of a set of observations and opinions by the Cabinet , the law was approved, noting that the Cabinet decided to send the project to Kurdistan Parliament.
The statement said that the law stipulates that the company will prepare plans for administrative, financial, technical, and policy and management of the oil sector in order to be consistent with the oil sector.
KRG statement noted that the company and in consultation and coordination with the Ministry of Natural Resources and the Council of Ministers for oil and gas will oversee all fields of oil and gas sector in the region, such as signing of exploration and extraction of oil as well as development and production of oil , exporting and marketing it in the region, Iraq and abroad and all business activities related to the oil and gas sector contracts.
The statement noted that the company will be within a certain period a joint-stock company and the citizens can buy shares, which will be organized later by a law.
The statement noted that the second paragraph of the meeting also was related to the oil sector presented by Hawramiwww.Ekurd.net and discussions were held as the law of (oil and gas imports fund in Kurdistan region) was approved in which will include all imports of oil and gas.
After conducting extensive discussions about this law and the observations by the Minister , it law has been approved and sent to Parliament.
On the differences and problems between Baghdad and Erbil, Barzani renewed his assertion that from the priorities of KRG is to reach an agreement with the federal government and find a mechanism so that no one can cut off whatever his position is, Kurdistan Regional Government’s budget or take individual decisions.
Regarding the oil problems with Baghdad , Barzani stressed that he would not allow in any way that SOMO controls the region’s oil, adding that KRG is ready to cooperate with them in the matter of production and sale of oil and transparency.
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The government’s cabinet of Kurdistan region.
November 12, 2014
ERBIL-Hewlêr, Kurdistan region 'Iraq',— Kurdistan Regional Government (KRG) ratified in its session on Wednesday, led by PM Nechirvan Barzani the draft law of (Kurdistan company to explore and produce oil) and the law of (imports of oil and gas fund company in Kurdistan region).
A statement by KRG said that “The government’s cabinet of Kurdistan region held today its usual weekly session, adding that Barzani spoke at the beginning of the meeting about attending Kurdistan parliament’s session for oil and gas, which was held last Monday to brief lawmakers on oil file and problems with Baghdad in this regard.
Barzani also talked about complaints of MPs in the delayed response to inquiries by the ministers of KRG, calling for the preparation of a mechanism to answer queries in the legal date, which is 15 days.
Kurdistan Prime Minster demanded to take the issue of questioning and follow-up and control of the affairs of the parliament and government ministries with full coordination with the Parliament and not to neglect their inquiries.
The Minister of Natural Resources, Ashti Hawrami submitted the first paragraph of the meeting that took place to discuss the draft law (Kurdistan company to explore and produce oil) and after the presentation of a set of observations and opinions by the Cabinet , the law was approved, noting that the Cabinet decided to send the project to Kurdistan Parliament.
The statement said that the law stipulates that the company will prepare plans for administrative, financial, technical, and policy and management of the oil sector in order to be consistent with the oil sector.
KRG statement noted that the company and in consultation and coordination with the Ministry of Natural Resources and the Council of Ministers for oil and gas will oversee all fields of oil and gas sector in the region, such as signing of exploration and extraction of oil as well as development and production of oil , exporting and marketing it in the region, Iraq and abroad and all business activities related to the oil and gas sector contracts.
The statement noted that the company will be within a certain period a joint-stock company and the citizens can buy shares, which will be organized later by a law.
The statement noted that the second paragraph of the meeting also was related to the oil sector presented by Hawramiwww.Ekurd.net and discussions were held as the law of (oil and gas imports fund in Kurdistan region) was approved in which will include all imports of oil and gas.
After conducting extensive discussions about this law and the observations by the Minister , it law has been approved and sent to Parliament.
On the differences and problems between Baghdad and Erbil, Barzani renewed his assertion that from the priorities of KRG is to reach an agreement with the federal government and find a mechanism so that no one can cut off whatever his position is, Kurdistan Regional Government’s budget or take individual decisions.
Regarding the oil problems with Baghdad , Barzani stressed that he would not allow in any way that SOMO controls the region’s oil, adding that KRG is ready to cooperate with them in the matter of production and sale of oil and transparency.
[You must be registered and logged in to see this link.]
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