New oil exploration company for Kurdish Regional Gov't

An oil exploration and production company is to be founded for the Kurdish Regional Government

New oil exploration company for Kurdish Regional Gov't

World Bulletin/News Desk

The Kurdish Regional Government has passed a new law to establish an oil exploration and production company," according to a statement released on the government website Thursday.   

The company will be founded in order to explore, produce and refine oil in line with government policies. 

The new law to inaugurate the company was approved by the government cabinet and was passed at parliament recently.

The government wants to have a mechanism that will ensure that the wages of employees in the oil industry in the Kurdish Regional Government do not get cut, and to have a structure which acts in accordance with government policies, Nechirvan Barzani, the prime minister explained in the statement. 

He said that the Kurdish Regional Government will not allow the Iraq National Oil Company to control Kurdish oil exports, but underlined that they are open to share all information on oil exports with full transparency. He emphasized that the Kurdish Regional Government will not diminish their contact with the government in Baghdad.

 

Last Mod: 13 Kasım 2014, 11:02
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