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Mr. Al Luiebi: The National Oil Company Law will Develop the Oil Industry.

The Voting of the Parliament on the law of Reforming the National oil Company is a step Forward to Develop the Oil Industry in Iraq.

Mr. Jabbar Ali Al-Luiebi the minister of oil held a meeting with a delegation of geologists, Jurists, Engineers, Journalists and other concerned people in Basrah governorate.

   Mr. Al-Luiebi said that the voting of the parliament on the law of reforming the national oil company is a step forward to develop the oil industry in Iraq.

   Mr. Al-Luiebi said that Iraq will gain great benefits of the company after a few years to develop the oil, gas and infrastructure sectors, as well as the performance development of the oil employees, and the development of the private sector which will develop the national economy.

   Mr. Al-Luiebi said also that the rules & legislations “in general”, always has some notes by the concerned authorities & experts, and these notes will be taken in consideration when there is a necessity for any modification on the chapter, for the national interest. He also discussed about some suggestions & visions related with the law, with the delegation for the economic & industrial interest, and corrected come un-accurate conceptions about the law and its issues.

   Mr. Al-Luiebi reviewed during the meeting with the delegation about the history of establishing the company In the early 1960s, and the achievements of raising the production, gas investment, the reserve elevation and the development of the oil fields, as well as the location of the company in the world because it was in the lead of the global companies and took the 4th level at that time

Source: Ministry of Oil

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