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KRG statement: Status of Iraq federal oil
law
20.1.2007
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January 20, 2007
Erbil, Kurdistan region (Iraq)
In an article published by Reuters on 17th January
headlined Iraq leaders agree draft oil law, a
spokesman of the Ministry for Oil in Baghdad stated,
“The committee finalized the draft of the law last
night [i.e. 16th January]. It was approved
unanimously and it will go before the cabinet early
next week”.
As far as the Kurdistan Regional Government (KRG) is
concerned, the draft law has not been “finalized
unanimously”, therefore the claim made by the oil
ministry spokesman, as reported by Reuters, is
inaccurate and misleading.
The last draft that the KRG was in agreement with
was presented to Prime Minister Al-Maliki for his
review on 17th December 2006. That draft allows the
KRG to negotiate and sign new contracts within the
Region and to receive its faire share of Iraq's oil
revenue, to be guaranteed and regulated by law.
The draft acknowledges that the KRG shall be the
competent authority to review its own previous
contracts to make them consistent with the law. Any
further material changes to that draft will require
the KRG’s consent.
Although the process of drafting the oil law is
nearing completion, the important annexes to the law
are still pending. Also, there are three associated
laws (the revenue sharing law, the Iraq National Oil
Company (INOC) charter law, and a law to define the
oil ministry’s new role) which must be drafted and
agreed upon before the whole package can be regarded
as being final.
Therefore, the position can only be finalized once
all these matters are settled and the KRG looks
forward to being among the first to make a formal
announcement when this is done.
The Spokesman
Kurdistan Regional Government
Council of Ministers
Erbil, Kurdistan Region, Iraq
Email: spokesman @ krg.org
krg org
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