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Kurdistan's oil industry needs greater transparency

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Fast Eddie


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BAGHDAD - Transparency is absent in Kurdistan's oil projects and must be improved for all Iraqi people, said the Deputy Prime Minister for Energy Affairs.

Hussein al-Shahristani called on the Kurdistan Regional Government yesterday to adopt transparency in its oil projects and allow the International Transparency Organization to monitor its oil industry.

He said: "Transparency is absent in oil industries in the fields of Kurdistan region, and the latter must inform the people in all provinces about oil projects because the constitution states that the oil belongs to all Iraqis."

The Iraqi Oil Ministry has also announced that Iraq tops the list of the member countries of the OPEC (Organization of Petroleum Exporting Countries) in terms of transparency and disclosure regarding oil projects.

The Oil and Energy Commission of the Iraqi parliament stated Monday that it had sent a formal letter to Shahristani assuring the need for directors-general to give statements and not to restrict them to the Media Director of the Ministry.

The Oil Ministry's media Office has been accused of having a preference policy for media for unclear reasons. The ministry announces monthly oil revenues and other information for a select number of foreign agencies and media.

Watchdogs and economic parties have demanded the Iraqi government form a specialized , highly professional information center on oil projects to disclose information about oil projects.



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