PM directs the formation of a ministerial committee on the oil and gas law

Baghdad-INA
Prime Minister Mohamed Shia Al-Sudani directed on Wednesday, the formation of a ministerial committee on the oil and gas law.

The media office of the Prime Minister stated, in a statement received by the Iraqi News Agency (INA),"Prime Minister Mohammed S. Al-Sudani presided Today, over a vital meeting to discuss the Federal Oil and Gas Bill with key political bloc leaders, the Minister of Foreign Affairs, the Minister of Oil, the Minister of Industry and Minerals, the Advisor to the Kurdistan Regional Government Minister of Natural Resources, and a team of technical and legal experts."

 During the meeting, the latest drafts of the Federal Oil and Gas Bill were thoroughly reviewed, including its details and provisions, along with the progress made by the technical and legal committees. 

The statement added, "The focus was on refining the final draft in preparation for approval by the Council of Ministers and submission to the Council of Representatives for legislation, adhering to legal and constitutional guidelines."

 The Prime Minister emphasized," the Oil and Gas Bill is a fundamental and crucial law that unifies Iraq and holds significant importance. Despite being stalled for years, the country is now in urgent need of legislating it to harness the benefits of its natural resources across all sectors." 

Moreover, the legislation of this bill will address numerous existing issues, as Al-sudani  emphasized that certain governorates have yet to utilize their wealth, hindering overall development efforts, making it imperative to rectify this situation. His Excellency underscored that the bill aligns with the government's program, which received approval from the Council of Representatives.