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The Minister of Oil: The Law of Oil & Gas is Substantial to Organize the Relations Between the Parties

The Minister of Oil: The Law of Oil & Gas is Substantial to Organize the Relations Between the Parties
Mr. Adil Abd Al-Mahdi the minister of oil participated in the Sulaimani Forum which was held for the period from 16 to 17 of March 2016 and attended by Many Iraqi, Arab and foreign politicians.

  Mr. Abd Al-Mahdi “During the second day schedule” confirmed on the necessity of the endorsement of the law of oil & gas which organizes the relations between all the parties, he also confirmed on the necessity of concluding a new contract with Kurdistan province to resume the exportation through Ceyhan port in Turkey.

  Mr. Abd Al-Mahdi talked also about the financial dues of the international companies during the licensing rounds, as well as the commitment of the government to provide 12 billion dollars of the budget of 2016. He confirmed also on the necessity of reducing the production costs of the companies to the minimum level.

  Mr. Abd Al-Mahdi referred to the oil prices drop and its effect on the incomes to the federal budget. He said that the economic crisis demands some correction steps in order to confront it and pass over it.

  It is worthy to mention that the Sulaimani forum organizes many activities to discuss the political and economic situation in Iraq in the region, as well as the world.
Updated 23 Mar 2016 | Soruce: Iraqi Ministry of Oil |
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