Parliament Advances Oil and Gas Law

The article discusses the efforts of the Iraqi Parliament to enact a law for oil and gas after a halt of nearly twenty years, with the aim of regulating Iraq’s oil sector, which suffers from stagnation and issues resulting from the absence of a federal legal framework. Sources indicate serious intentions by members of parliament, especially representatives from Basra Province, to complete the legislation in the current session, in order to enhance the management of oil wealth and to remove obstacles faced by the sector. Experts emphasize the importance of the law in clearly defining rights and authorities, acknowledging its significance in revitalizing and properly managing the oil resources, and avoiding previous failures. This step is considered essential for advancing Iraq’s oil sector and effectively organizing sales and export operations, especially since the law has remained dormant since 2007 due to political delays and obstructions.

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