There is no chance that INOC draft law would be voted by parliament before the draft oil and gas law is legislated, according to Oil Minister Hussein al-Shahristani. Why? Because there is close linkage between the two laws as well as two other laws pending legislation; the oil ministry restructuring law and the revenue sharing law, “without which the state company would be paralyzed.” And that’s not all. There is…
Tag: oil and gas law
INOC Draft Law
A Clarification about INOC draft law: The Council of Ministers (CoM) passed on July 28th by a majority vote a draft law for the re-establishment of Iraq National Oil Company “INOC”. A number of points were raised by the Shoura Council, Ministry of Finance, Ministry of oil and the Legal Directorate in the Council of Ministers Secretariat and a number of recommendations were made by the Advisory commission. All were…
Iraq: The Shiite View
25 July 2008 Iraqi Shiite Vice President Adel Abdul Mehdi does not disguise his and his party’s ambitions in establishing a semiautonomous region in southern Iraq, home to the country’s most abundant and biggest oil fields, in parallel to the Kurdistan region in northern Iraq, despite Sunni objections and warnings that the move would practically divide Iraq into three mini-states, with the southern region backed by influential Shiite neighbor Iran….