Iraq: Parliament Intensifies Efforts for Long-Delayed Oil and Gas Law

The parliamentary Oil, Gas, and Natural Resources Committee today affirmed the necessity of expediting the legislation of the oil and gas law, indicating serious intentions to approve it during the current parliamentary session after years of stagnation. Speaking to the official newspaper, MP Zainab Al-Tamimi, a member of the committee, stated that the Parliament's presidency and the committee consider the law of paramount importance. She noted that previous session efforts to draft it were unsuccessful. Al-Tamimi confirmed that current session MPs, particularly those representing Basra Governorate, emphasize the law's completion, as it tops the discussions of the Oil and Gas Committee. She expressed hope for its swift approval, stressing that it will address the oil sector's issues and provide a clear legal framework for its operations. For his part, MP Banas Al-Douski, also a committee member, informed the official newspaper that the law should have been legislated since 2007 to define rights and duties within the sector. He explained that Iraq's oil sector faces stagnation due to the absence of a federal law governing its operations, as old frameworks no longer keep pace with developments, exacerbating existing failures. Al-Douski stressed that the current phase demands genuine political will to enact the law, as Iraq urgently needs a federal framework to regulate oil wealth management, sales, and export operations, clearly defining the responsibilities and powers of relevant bodies.