Baghdad, July 27 (Rn) – Zkredo in the oil and energy parliamentary Iraq, Wednesday, that the Commission on oil and energy parliamentary out a comprehensive study for the National Oil Company
Said Furat al-Shara told the Kurdish news agency (Rn) that “the Commission on oil and energy has completed a comprehensive study for the National Oil Company, which assumes that do not conflict with the law of oil and energy, which will send the Iraqi government to the House of Representatives in August next as expected.”
He added that “the Commission on oil and energy parliamentary touch that there is an urgent need to form a national oil company to work on taking the role of monitoring and auditing the work of foreign companies into the Oil Ministry Supervisor-General on the political oil.”
He pointed out that “the efforts of the Ministry of Oil will be supported by the national oil company in the event of its establishment, and they will deal with the problems of Baghdad, Erbil on oil production and export through the development of integrated mechanisms for export of oil in the country.”
And given to the parliamentary energy commission, the national oil company has oversight over oil resources and oil projects Altfeselh follow-up after the oil ministry in accordance with law regulating its work.
The oil minister, cream and coffee, had confirmed in a meeting in July 3 this with the Commission on oil and energy parliamentary I want to establish a national company to manage the energy sector in the Member State in the OPEC is not necessary and may interfere with the work of the Ministry of Oil as the law which the Government intends to submit conflicts with the parliament set up a company to manage the oil.
And the failure of the House of Representatives to pass Bdorth previous oil and gas law, which was expected to rise oil situation if approved.
The text of the Iraqi constitution, the formation of the Federal Oil, headed by Prime Minister or his deputy, under his chairmanship and membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation in the federal government and the Iraqi Central Bank Governor and a representative from each province, a minister and a representative from each province produced is regularly in the province and the chief executives of major oil corporations with the relationship and by including the national oil company of Iraq and the oil marketing company specialized experts affairs of the oil and gas, finance and the economy to exceed the number three are appointed for a maximum of five years by the Council of Ministers.
The oil ministry has declared the month of September / September last year that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil.
Plans to increase Iraq’s oil exports during the next six years to 12 million barrels per day after obtaining the approval of the international oil (OPEC).
