Official urges to promote cooperation in oil field with Gulf countries

Baghdad (IraqiNews.com) Member, Furat al-Sharaa, of the Parliamentary Energy Committee announced that the crude oil refining law will be ratified soon in the Parliament.Sharaa stated to (IraqiNews.com) “The oil refining law will be read after the Gas and Oil law project and in case this law was ratified it will promote investment opportunities in Iraq while the there will be a substitute if the oil refining law project was not ratified.”

”We can not say that Iraqi-Gulf Countries cooperation does not exist in the field of oil, yet the cooperation is weak and needs to be revitalized which requires political agreements in the Parliament,” he added.

“Though all the development occurred in sector of oil fields, yet the Federal Government seeks to establish local companies specialized in refining and extracting of oil in order to reduce the dependence on foreign oil companies,” he concluded.