************* Jubouri: The law of the National Oil Company arrived in parliament and will be on its agenda

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************* Jubouri: The law of the National Oil Company arrived in parliament and will be on its agenda

Post  Admin on Sun Apr 02, 2017 9:46 am

Sunday, April 2, 2017 - 10:32 AM

Jubouri: The law of the National Oil Company arrived in parliament and will be on its agenda
The Speaker of the House of Representatives Salim al-Jubouri, that the draft law of the National Oil Company arrived from the government to parliament.

Jubouri said in his speech at the Iraq Energy Forum, which was launched this morning in the capital Baghdad, in the presence of Prime Minister Haider Abadi, OPEC Secretary General, Mohammed Barkando, "Oil revenues still constitute the largest proportion of Iraq's revenues in hard currency, which in itself points to the problem of unilateralism of the Iraqi economy , Which puts the future of Iraq in the face of dangerous turns.

He stressed that "it is necessary to work to take clear practical measures such as the translation of the practical provisions of articles 111 and 112 of the Constitution on the management of oil and gas resources, as part of a set of legislation aimed at deepening the benefit of the wealth of Iraq, including the law of the National Oil Company, And will be included in the table reading the Council, in addition to the law on the distribution of national wealth, a set of legislation to confirm the usefulness of Iraq's wealth.

"We firmly believe that the focus on the energy sector and the provision of the requirements of its development administratively, legally and financially, will provide Iraq with revenues that can be employed to expand the productive base that guarantees the diversification of the country's economy."

"The sector can not be effective and productive unless it has the legal and administrative framework capable of investing wealth properly and in accordance with the Constitution and within the standards of the international oil industry."

Jubouri pointed out that "the House of Representatives did not spare any effort in the legislation of laws related to energy and transmitted by the government, including, the law of the Ministry of Electricity, and the Iraqi Atomic Energy Commission, the law exempting foreign companies and secondary contractors in the foreign rounds licensing rounds, fees, and the law of the second amendment to the law Investment for oil liquidation ".



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