The oil investment law would boost the oil sector and development

Posted by on Dec 11, 2013 | Leave a Comment

Baghdad (newsletter). Oil and Energy Committee, the importance of read investment Bill, because it will boost the oil sector by attracting foreign and domestic companies to invest in the oil sector.

The oil Commission said MP/Kurdish Alliance (News Agency): the old oil investment law was seen on the investor ‘ thief ‘ for riches, but after the amendments before the Parliamentary Committee on oil specialists to make the law as seen on the investor and major contributor to the economy.

He added that the advancement of any economy in the world unless there is a real investment, noting that oil investment law will support the Iraqi economy and develop the oil sector, which will play an important role in the participation of the private sector wants role in investment, as well as international companies.

He continued that this law will focus primarily on building oil refineries in the country because Iraq needs to build new refineries to meet the local demand of petroleum products

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