Postpone discussion of Iraqi Oil Law :wigged: :wigged:
Waiting for the global oil industry for years, the law is passed which defines ways of sharing oil export revenue between different regions of Iraq and establish a national oil company. But the law has stalled in the midst of a dispute between the central government and the Kurds over control of oil resources, land and power ...
And in Baghdad on Sunday announced the suspension of parliamentary debates on the draft law of oil and gas until after the legislative elections scheduled for January next year.
The Chairman of the Commission on oil and gas in the Iraqi parliament Ali Hussain Balou said to resolve the dispute between the central government in Baghdad and the Kurdistan Regional Government of Iraq on the exploitation of oil fields in Kirkuk, the disputed, must be resolved before the Security Adoption of the oil and gas law, which years ago to start discussion.
The Blue - a Kurdish politician - has likely Saturday to postpone enactment of the law until after the legislative elections, and said that all indicators predict not to put this law on the agenda during the remaining time of the present parliament.
He attributed the postponement to the differences between the political blocs and described as insoluble.
In the view of investors in the law is a prerequisite for developing a legal framework and clear limits of risk in a country fraught with security risks and legal issues.
And Iraq, which has the third largest oil reserves in the world to modernize its oil sector, and is trying to lure international oil companies to conclude a long-term development contracts.
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