The Kurdistan Regional Government of Iraq announces the establishment of two oil companies

[6ly410]

The Federal Ministry of Oil responds to the project to establish two oil companies in Kurdistan

Posted 2 minutes ago

 

وزارة النفط الاتحادية ترُد على مشروع تأسيس شركتين نفطيتين في كُردستان - اخبار العراق (iraqakhbar-com.translate.goog)

 

news source /change channel

 

 On Sunday, Federal Oil Minister Ihsan Abdul-Jabbar announced that the ministry will study the proposal to establish two oil companies in the Kurdistan Region if it receives an official notification from the regional government in this regard.

Abdul-Jabbar said, "We have not seen any official notification from the regional government so far on this issue," adding that he "cannot issue a position from us regarding what we hear from the media."

He explained, "We will read their proposals immediately and their responses to us, and we will see whether they conform to the law and the constitution? And conforming to the provisions of the Federal Court Law? Is it compatible with the federal authorities and powers? After that we will have an official position.”

On Friday, June 18, the Kurdistan Regional Government announced that it intends to establish two public oil and gas companies.

According to a report published by the regional government today, on its vision for managing the oil file, the two companies are the Kurdistan Regional Oil and Gas Company (KROC), which is specialized in the exploration, production and transportation of oil and gas, and the Kurdistan Oil Marketing Company (KOMO), which will be specialized in oil marketing.

And the report, which was reviewed by Shafak News Agency, stated, "It is possible to coordinate between these two companies on the one hand, and the National Oil Company, and (SOMO) in the relevant fields on the other hand, and that the coordination of the Federal Ministry of Oil with the natural resources of Kurdistan Region."

To do all this, the report stipulated “the necessity of restructuring the SOMO company, amending its bylaw, and making it a federal institution, in which decisions are taken jointly in order to achieve real participation of the Kurdistan Region in that company, and the representative of the regional government has the right of veto regarding the Kurdistan Region issues.

[6ly410]

Minister of Oil: The ministry will study the proposal to establish two oil companies in the region

Economy News - Minister of Oil: Ministry will study proposal to establish two oil companies in the region (economy-news.net)

   

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Economy News - Baghdad

Oil Minister Ihsan Abdul Jabbar announced Sunday that the ministry will consider a proposal to establish two oil companies in Kurdistan province if it receives official notice from the provincial government.

"We have not seen any official notice from the regional government so far on this subject," Abdul Jabbar told The Economist News, adding that "he cannot take a stand from us about what we hear from the media."

"We will read their proposals as soon as they respond to us and see if they are in accordance with the law and the constitution? And in accordance with the provisions of the Federal Court Act? Do they conform to federal authorities and powers? After that we will have an official position."

The Kurdistan Regional Government announced Friday (June 18th) that it plans to set up two public oil and gas companies.

According to a report published by the territorial government today, on its vision for managing the oil file, the two companies are the Kurdistan Petroleum and Gas Company (KROC), which specializes in oil exploration, production and transportation, and Kordistan Oil Marketing Company (KOMO), which will specialize in oil marketing.

"On the one hand, the national oil company and Sumo can be coordinated in related areas, and the Federal Ministry of Oil should be coordinated with the natural resources of the Kurdistan region," the report said.

To do all this, the report stipulated that "Sumo must be structured, its rules of procedure amended and made a federal institution, in which decisions are taken jointly in order to achieve the genuine participation of the Kurdistan region in that company, and the representative of the territorial government has veto power in relation to matters relating to the Kurdistan region."

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Views 77

Add 2022/06/19 - 1:10 PM

Updated 2022/06/19 - 3:21 P

[southbeach]

But are these the same two oil companies Baghdad was talking about establishing in Kurdistan 3 weeks ago to help resolve the crisis?

[yota691]

 

The first response from the Federal Ministry of Oil to the project to establish two oil companies in the Kurdistan Region

 

 2022-06-19 05:48

 

Shafaq News/ Federal Oil Minister Ihsan Abdul-Jabbar announced on Sunday that the ministry will study the proposal to establish two oil companies in the Kurdistan Region if it receives an official notification from the regional government in this regard.

Abdul-Jabbar said in an exclusive statement to Shafaq News Agency, "We have not seen any official notification from the regional government so far on this issue," adding that "it is not possible for us to issue a position regarding what we hear from the media."

He explained, "We will read their proposals as soon as they come to us and see whether they are in conformity with the law and the constitution? And are they in conformity with the provisions of the Federal Court Law? Are they consistent with the federal authorities and powers? Then we will have an official position."

 

The minister stressed that "the ministry is continuing to implement the decision of the Federal Supreme Court, which decided the unconstitutionality of the oil and gas law in the region," saying, "We believe in the federal system, and the authorities of the region and the provinces, but the origin is the application of the Federal Court law, and access to standard methods in managing the management of oil wealth." all across the country."

 

On Friday, June 18, the Kurdistan Regional Government announced that it intends to establish two public oil and gas companies.

According to a report published by the regional government today, on its vision for managing the oil file, the two companies are the Kurdistan Regional Oil and Gas Company (KROC), which is specialized in the exploration, production and transportation of oil and gas, and the Kurdistan Oil Marketing Company (KOMO), which will be specialized in oil marketing.

And the report, which was reviewed by Shafak News Agency, stated, "It is possible to coordinate between these two companies on the one hand, and the National Oil Company, and the (SOMO) company in the relevant fields on the other hand, and that the coordination of the Federal Ministry of Oil with the natural resources of the Kurdistan Region."

To do all this, the report stipulated “the necessity of restructuring the company (SOMO), amending its bylaw, and making it a federal institution, in which decisions are taken jointly in order to achieve real participation of the Kurdistan Region in that company, and the representative of the regional government has the right of veto with regard to the Kurdistan Region issues.