Allawi: the government will address the oil crisis when the oil and gas law is approved

Shafaq News/ Hussein Allawi, advisor to Prime Minister Mustafa Al-Kadhimi announced that the Iraqi government has a new plan to attract investments in the electricity sector.

In a statement to CNBC Arabia, Allawi said that the highest electricity production reached 20,000 megawatts. Still, the sustainability of production is a challenge for the government due to the climate and gas supplies from Iran.

Regarding the exit of foreign oil companies from Iraq, Allawi stressed that it is too early for these companies to withdraw since the Iraqi economy has great importance for them, noting that the government will address the challenges threatening the oil sector if the oil and gas law is approved.

Iraq has recently witnessed a significant power shortage, as some Iraqi cities had have been obtaining only four hours of power supply within 24 hours.