Shafaq News- Baghdad/ Erbil
The Iraqi parliament’s Oil, Gas and Natural Resources Committee hosted the Kurdistan Region of Iraq (KRI)’s natural resources minister on Thursday for talks on managing and marketing of petroleum products and challenges facing the sector.
Committee member Mohammed Ali Al-Nuaimi told Shafaq News that the discussions addressed ways to regulate the sector in the public interest, as well as Iraq’s oil and gas bill, with participants stressing the importance of developing legislation to govern the country’s oil wealth in line with the constitution, promote sound management of natural resources and safeguard the rights of all Iraqis.
The discussions come as the Kurdistan Region, particularly Erbil and Duhok provinces, faces a severe gasoline shortage that began in mid-July, with supplies scarce or depleted at many filling stations and long lines of vehicles forming despite a Kurdistan Regional Government (KRG) decision to reduce fuel prices.
On Wednesday, committee member Sipan Sherwani told Shafaq News that the federal government, the KRG, and foreign oil companies operating in the Kurdistan Region had agreed to allocate 50,000 barrels per day of locally produced crude to meet the KRI’s fuel and petroleum product needs, prompting the committee to host the minister to discuss implementation of the agreement and ensure supplies for residents.