Solution Reported over Hydrocarbon Law

In the ongoing conflict between the Kurdistan Regional Government (KRG) and the federal government in Baghdad over the proposed new oil and gas law, both sides agreed to adopt the draft law that had been presented in February, reports AKnews, citing Ghadhban Fadel, head of the advisers committee in the federal government.

The announcement is a result of the ongoing negotiations between Baghdad and Erbil over three outstanding issues. On Tuesday, the delegation of Kurdish politicians, led by Kurdish Prime Minister Barham Ahmed Salih, and the representatives of the federal government agreed that joint committees are supposed to solve the disputes over the budget for the Peshmarga, the oil and gas law, and article 140 of the constitution.

The KRG rejected a draft law which had been approved by the federal government.

The Kurds believed that the draft law grants the powers to the Federal Government to manage the oil wealth at the expense of the region. They also accused Baghdad of passing a draft law without taking the Kurdish opinion into consideration.

On the other hand, Baghdad criticized Erbil for signing contracts with international oil companies without the consent of the federal Oil Ministry.

(Source: AKnews)

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