Four Articles in New Law for Oil Production: Finance Committee

Iraqi Dinar 123 News: – On Saturday, the Iraqi parliamentary commission on oil and energy issued a statement that we are going to finalize the provinces law for oil producing. He also pointed out that this law would deal and assign the amount of money for non-producing and producing provinces for oil and energy.

A committee member Jamal said in interview that this law includes four articles; the first article defines the financial ratios which would be allocated to the oil producing provinces. The second article identifies the similarity of non-productive complements as producing provinces. The third article refers to the government powers to improve or drop the financial ratios which were allocated to the provinces, but it depends on the economic condition. The article four focus on the legitimacy of these kinds of materials. Point to be noted that committee would also discuss this law with the Iraqi Parliamentary Finance Committee and with the parliamentary regions that are linked to the law.

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