The Baghdad-Erbil agreement will facilitate the long-overdue enactment of hydrocarbons law, MP says

Shafaq News/ Lawmaker Ekhlas al-Dulaimi, a member of the finance committee in the Iraqi parliament, on Saturday said the breakthrough agreement reached between the federal government and the Kurdistan Regional Government (KRG) is poised to create a favorable environment for passing the general budget as well as the oil and gas legal frameworks.

This critical development, according to al-Dulaimi, is anticipated to expedite the passing of the relevant bills in the parliament and ultimately bolster the nation's fiscal standing.

In a statement to the Shafaq News Agency, al-Dulaimi remarked, "the pivotal agreement between the federal government and the Kurdistan region is expected to constructively influence the general budget law, expediting its approval, and serving as a catalyst for the enactment of the oil and gas law, given the propitious circumstances in the country."

She further elaborated, "should there exist an authentic political commitment to address these challenges, the oil and gas law's enactment will likely ensue without delay following the ratification of the general budget."

Al-Dulaimi said that the draft oil and gas law is presently under the purview of the government, pending cabinet approval ahead of presenting it to the parliament.

Iraq's Prime Minister Mohammed Shia al-Sudani and Kurdistan's Prime Minister Masrour Barzani reached a consensus to recommence oil exports from the region, previously halted by a decision from an international court.