The Parliament: A proposal to establish three oil and gas companies

INA - BAGHDAD 

The Parliamentary Oil and Gas Committee gave on Monday, proposals within the draft oil and gas law to establish three companies, including Kurdistan Oil Company.

"The government of PM Muhammad Shia'a al-Sudani took a step forward in the oil file with Kurdistan by activating the supreme committee specialized in negotiating with the regional government, which is headed by the Deputy Prime Minister and Minister of Planning, as well as the membership of each the Minister of Oil, the director of SOMO, the head of the Border Crossings Authority, along with some advisors and experts. The committee will be strongly activated, and it will be followed up by the Parliamentary Oil and Gas Committee," said the Committee MP Ali Shaddad Al-Faris to the Iraqi News Agency - INA.

Al-Faris explained that, "there is no solution for the regional government other than to sit at the table of the Supreme Committee to reach a draft oil and gas law after the Federal Court's decision on the illegality of the oil and gas law in Kurdistan," indicating that "the law will regulate the relationship between the federal government and the producing provinces and regions for oil and gas.”

"The law will be a guarantor of the rights of the oil-producing provinces, led by Basra," he added, noting that "the law cannot be delayed during this session."

He pointed out that "some of the proposals that will be put in the draft law, which the Kurds may go towards, are the establishment of a Kurdistan Oil Company that will be based in the region and is directly linked to the Federal Ministry of Oil with all its extractive and production operations," adding, "there may be another company involved in gas investment, and another company concerned with investing in government refineries."