***Thanks BB and friends At Dinar Recaps ~ Link ~ http://www.dinarrecaps.com/our-blog.html07/13/2011
Energy Committee approves draft Oil, Gas Law
(NINA) – The Energy Committee, headed by Deputy Prime Miister, Hussein al-Shehristani, approved the amendment endorsed on the draft Oil and Gas Law prepared by the Ministry of Oil.
A statement issued on Wednesday, July 13, by the Deputy Prime Minister’s Office said, “The meeting was attended by ministers of Oil, Electricity, Science and Technology, Water Resources and Provinces’ Affairs.
It added that, “The Amendments have been referred to the Council of Ministers.”
It is noteworthy that on the current July 2, Parliament’s Oil and Energy Committee demanded Parliament to issue instructions to delay concluding any new contracts related to the production of crude oil and natural gas, and to speed up enacting Oil and Gas Law to be a legal cover to any future contracts, whether by the Federal Government or the regions and provinces.
It called on Parliament to vote on the necessity to comply by the Constitution’s articles with regards to contracts related to the production of oil and natural gas.
It is worth mentioning that the Oil and Gas Law was among the important law that previous Parliament failed to enact it and had it sent to current Parliament. / End.
http://www.ninanews.com/english/News_Details.asp?ar95_VQ=FHFMLG
