http://www.aknews.com/en/aknews/4/277938/
Nujaifi promises vote on oil law next week
13/12/2011 10:08 BAGHDAD, Dec. 13 (AKnews) – Speaker of the Council of Representatives Osama al-Nujaifi promised that nine important laws will be passed next week and that the oil and gas law might be one of them.
Nujaifi blamed political disputes for why the oil and gas law has not been discussed and passed in the Council yet.
“We are waiting for the Council to adopt one of the three drafts that we received,” Nujaifi said.
The federal government in Baghdad and the Kurdistan Regional Government in Erbil disagree over the oil and gas legislation in the country. The Kurds accused the federal government of passing the draft law without taking the Kurdish opinion into consideration. On the other hand, Baghdad criticized Erbil for signing contracts with international oil companies without the consent of the federal Oil Ministry.
According to Article 112 of the Iraqi Constitution, “the federal government, with the producing governorates and regional governments, shall undertake the management of oil and gas.” However, article 112 is placed right between the articles109 to 110 which define the fields of exclusive federal authority, and article 114 which defines the fields of shared authority. Thus, article 112, with its vague wording, is quoted by both sides, federal and regional authorities, to strengthen their individual position.
Under the Erbil Agreement, by which the political leaders agreed to form a national-partnership government in 2010, an agreement should be reached over a new oil law. A draft, that was passed this year, sparked tensions between the federal and the Kurdish government.
The Council’s Oil Commission has been studying three drafts for a new oil law. According to committee members, the committee agreed to 90% of the drafts, except to those articles that deals with the distribution of the oil wealth.
Iraq has has the world’s fourth-largest oil reserves with an estimated amount of 137 billion barrels of crude oil. In August, exports were at an average of 2.19 million barrels a day, with Iraq’s oil industry being at or near capacity.
According to previous announcements by the Iraqi government dating back to 2010, the oil production is supposed to rise up to 12 million bopd in 2016.
Currently, Iraq finances 95% of its annual budget through oil revenues.
Nujaifi promises vote on oil law next week
13/12/2011 10:08 BAGHDAD, Dec. 13 (AKnews) – Speaker of the Council of Representatives Osama al-Nujaifi promised that nine important laws will be passed next week and that the oil and gas law might be one of them.
Nujaifi blamed political disputes for why the oil and gas law has not been discussed and passed in the Council yet.
“We are waiting for the Council to adopt one of the three drafts that we received,” Nujaifi said.
The federal government in Baghdad and the Kurdistan Regional Government in Erbil disagree over the oil and gas legislation in the country. The Kurds accused the federal government of passing the draft law without taking the Kurdish opinion into consideration. On the other hand, Baghdad criticized Erbil for signing contracts with international oil companies without the consent of the federal Oil Ministry.
According to Article 112 of the Iraqi Constitution, “the federal government, with the producing governorates and regional governments, shall undertake the management of oil and gas.” However, article 112 is placed right between the articles109 to 110 which define the fields of exclusive federal authority, and article 114 which defines the fields of shared authority. Thus, article 112, with its vague wording, is quoted by both sides, federal and regional authorities, to strengthen their individual position.
Under the Erbil Agreement, by which the political leaders agreed to form a national-partnership government in 2010, an agreement should be reached over a new oil law. A draft, that was passed this year, sparked tensions between the federal and the Kurdish government.
The Council’s Oil Commission has been studying three drafts for a new oil law. According to committee members, the committee agreed to 90% of the drafts, except to those articles that deals with the distribution of the oil wealth.
Iraq has has the world’s fourth-largest oil reserves with an estimated amount of 137 billion barrels of crude oil. In August, exports were at an average of 2.19 million barrels a day, with Iraq’s oil industry being at or near capacity.
According to previous announcements by the Iraqi government dating back to 2010, the oil production is supposed to rise up to 12 million bopd in 2016.
Currently, Iraq finances 95% of its annual budget through oil revenues.