Oil and Energy Committee Urges Postponement on 4th Licensing Round

The fourth round of oil licensing should be postponed, the chairman of the Oil and Energy Parliamentary Committee said on Sunday, according to a report from AKnews.

The committee has made a formal request to the Ministry of Oil asking them to delay the awarding of licences. Chairman Adnan al-Janabi, told AKnews that the fact the new oil and gas law has not been passed means there is a lack of clear structure, and the Ministry of Oil has not done enough research into the economic feasibility of possible licenses.

“The Oil and Energy Committee hopes the oil and gas law will be approved as soon as possible and that those looking to block it for political reasons understand how hard it is for the ministry to carry out their work without the law and the formation of a federal council,” he said.

The ministry announced the launch of the fourth round of oil licensing on April 25, indicating that they are currently encouraging the exploitation of gas rather than oil.

(Source: AKnews)

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