Latest news with #OilandGasLaw
Shafaq News
2 days ago
- Politics
- Shafaq News
Iraq's Parliament divided ahead of post-Eid session
Shafaq News/ Iraq's Parliament is bracing for a tense post-Eid al-Adha session, as lawmakers remain divided over key legislative proposals ahead of the November 11 elections. A political source previously told Shafaq News that factions within the Shiite-led Coordination Framework have tentatively agreed to push a series of amendments, including a new electoral system. The draft would allocate 80% of a party's votes to its top candidate, with the remaining 20% distributed among others—a move intended to consolidate political power and curb vote fragmentation. Lawmakers are also set to revisit stalled bills, including revisions to the Oil and Gas Law and the Popular Mobilization Forces (PMF) Law, aimed at reinforcing oversight of Iraq's energy and security sectors. Still, internal rifts threaten progress. Speaking to our agency, MP Mansour al-Muraid, a member of the Energy and Electricity Committee, questioned the timing and political intent behind the legislative push, warning that any law passed now could be framed as a 'partisan win,' further delaying consensus. He expects the electoral reform and other proposals to be postponed until the next parliamentary term. Al-Muraid also downplayed the likelihood of resolving the long-running Oil and Gas dispute, citing persistent friction between Baghdad and Erbil. 'The current political climate isn't conducive to compromise.' Meanwhile, MP Najat al-Taie of the Azm Alliance acknowledged behind-the-scenes efforts to secure quorum when Parliament reconvenes, which could help move select bills forward. However, she noted that only the electoral amendment enjoys broad enough backing for swift passage, while most proposals remain stalled by a lack of agreement. Notably, Azm, led by Muthanna al-Samarrai, has emerged as the largest Sunni bloc. It includes influential political figures such as former Parliament Speaker Osama al-Nujaifi, former Deputy Prime Minister Rafi al-Issawi, and the Justice and Benevolence Movement (Harakat al-Adl wal-Ihsan).
Shafaq News
5 days ago
- Business
- Shafaq News
Kurdistan responds to Baghdad: A political statement detached from facts
Shafaq News/ The Kurdistan Regional Government (KRG) has sharply rebuked a recent statement issued by Iraq's Ministry of Oil, accusing Baghdad of distorting facts and perpetuating constitutional violations in a deepening dispute over oil production and revenues. Earlier today, the Federal Ministry of Oil called on KRG to adhere to the Constitution, court rulings, and the Budget Law by delivering oil to federal authorities. It warned that ongoing non-compliance 'causes major financial losses to Iraq and damages Iraq's international reputation,' citing alleged 'smuggling' from the Region and vowing legal action. In a detailed press release issued on Thursday, the KRG's Ministry of Natural Resources described the federal ministry's remarks as 'a political statement that is far removed from objective facts,' and held the federal government responsible for policies that have led to economic harm, halted exports, and undermined constitutional principles. "You are the ones who blatantly and continuously violate the constitution and have stood as an obstacle to passing the Federal Oil and Gas Law for many years," the ministry declared, directly challenging Baghdad's narrative. Oil Smuggling and Export Halt The Kurdish Ministry rejected accusations of oil smuggling, calling them a deflection from corruption and smuggling operations occurring 'in other parts of Iraq,' and accusing federal authorities of 'mixing oil and serving the interests of others instead of serving Iraq and its people.' Contrary to Baghdad's assertions, the KRG stated that it was not responsible for the halt in oil exports. Instead, the ministry pointed to a legal dispute initiated by the Federal Ministry of Oil itself against the Turkish Ministry of Energy, which resulted in the suspension of exports on March 25, 2023—causing what it described as losses 'exceeding $25B.' Although a new agreement to resume exports was reached just days later on April 4, 2023, Kurdish officials say federal budgetary conditions made it financially unfeasible for companies to operate. 'The budget law stipulated a production cost of $6 per barrel, prompting most producing companies to cease production under this restriction,' the ministry said. Despite this, the Region delivered over 11.8 million barrels of oil to a refinery working on behalf of the Ministry of Oil. However, 'not a single dinar was paid' for these quantities, prompting companies to halt further deliveries. Disputed Legal and Constitutional Grounds The Kurdish ministry emphasized that Iraq's ongoing oil disputes stem from the federal government's failure to 'respect' constitutional rights and to enact the long-delayed Federal Oil and Gas Law. While noting that a joint committee was formed at the beginning of the current federal government to draft the law, the ministry cited "noticeable delay and procrastination" by Baghdad, suggesting an absence of political will to resolve the issue. Referring to the Kurdistan Region's own Oil and Gas Law No. 22 of 2007, the ministry defended its contracts with international oil companies, claiming that the legality of these contracts has been implicitly affirmed by global investment. 'Had there been any real legal issue with these contracts, globally reputable companies would not have invested billions of dollars in the Region,' the statement noted. Federalism and Cooperation The ministry also reiterated the Region's commitment to constitutional federalism, emphasizing that it has consistently shown readiness to compromise and cooperate, including by agreeing to sell its oil through SOMO, deposit revenues in the state treasury, appoint a consulting firm, and open an escrow account. 'This renders your Ministry's claims about the futility of previous negotiations with the Region completely baseless,' the ministry stated, citing a 'flexibility and willingness to cooperate' that, it said, Baghdad has failed to reciprocate.
Shafaq News
03-06-2025
- Business
- Shafaq News
PM Al-Sudani, KIU lawmakers discuss budget issues
Shafaq News/ On Tuesday, Iraqi Prime Minister Mohammed Shia Al-Sudani met with members of the Kurdistan Islamic Union (KIU) Parliamentary Bloc. According to a statement from Al-Sudani's media office, the meeting addressed several issues including the government's performance and the financial crisis in the Kurdistan Region. Both sides stressed the need for a resolution to the Region's entitlements based on the Federal Budget Law and the ruling of the Federal Supreme Court. 'The importance of passing the Oil and Gas Law was also emphasized.' The KRG is required under Budget Law to deliver a specified amount of oil to the federal government, transfer part of its non-oil revenues, and share financial data. During the meeting, the KIU members commended the government's efforts in 'service delivery and visible reforms.'
Iraqi News
03-06-2025
- Business
- Iraqi News
Al-Sudani Meets with a Delegation from the Kurdistan Islamic Union Parliamentary Bloc
Prime Minister Mohammed S. Al-Sudani met with a delegation from the Kurdistan Islamic Union Parliamentary Bloc. Media Office of the Prime Minister said in a statement obtained by the Iraqi News Agency INA that Prime Minister Mohammed S. Al-Sudani met today, Tuesday, with a delegation from the Kurdistan Islamic Union Parliamentary Bloc. The meeting included discussions on several national-level issues and the progress of the government's service and economic programs. The statement read 'During the meeting, Prime Minister Al-Sudani reaffirmed the government's commitment to meeting the aspirations of citizens and addressing their concerns across all parts of Iraq, in line with its legal and constitutional responsibilities and the priorities and needs of the population.' It further said 'The meeting also underscored the need for fundamental solutions—within the framework of the Constitution and the law—regarding the financial obligations of the Kurdistan Regional Government, based on the provisions of the Federal Budget Law and the ruling of the Federal Supreme Court. The importance of passing the Oil and Gas Law was also emphasized.' The statement also said 'Members of the Kurdistan Islamic Union Bloc highlighted the significance of the enhanced security and societal stability achieved alongside a comprehensive economic and urban revival. They commended the government's efforts in service delivery and visible reforms, and the positive impact of these measures on the lives of citizens throughout the country.'
Shafaq News
06-04-2025
- Business
- Shafaq News
Source: Iraq's Oil and Gas Law faces new setbacks
Shafaq News/ Disagreements persist between the federal government and the Kurdistan Regional Government (KRG) over the Oil and Gas Law, with little political will to resolve the issue, an Iraqi MP confirmed on Sunday. The Member of the Oil and Gas Committee Bassem Naghimsh told Shafaq News that there is no political consensus on resolving the law and sending it to parliament, noting that the main points of contention revolve around the implementation of Federal Court decisions, the federal government's responsibility for the region's oil, and its financial revenues. "The law will not be resolved during this session due to the lack of genuine political will to push it forward," he added. On March 4, sources revealed escalating disputes among Shiite, Sunni, and Kurdish political factions over the Oil and Gas Law, as well as the law governing the Popular Mobilization Forces' (PMF) pensions. Economist Nabil Al-Marsoumi also disclosed that nine foreign companies are demanding compensation of up to $24 billion due to the suspension of oil exports after the Iraqi Ministry of Oil canceled contracts with the KRG.
