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Iraq is in the Forefront to Disclose the Information of Oil Extractive Industries

The Minister of Oil Confirmed on The Keenness of The Ministry of Oil to Enforce The Iraqi Role in The Extractive Industries Transparency Initiative (EITI).

  By the commitment with the standards & mechanisms of disclosing the produced oil quantities and their outcome.

   He also pointed on that Iraq is in the forefront of the oil countries to reveal the extraction industries information.

   Mr. Al-Luiebi said that Iraq is one of biggest countries in EITI according to the oil production and reserves. Iraq is also committed with the basics of transparency standards about the gas, mining and disclosing the outcomes of the governmental companies & authorities to prevent corruption and create the appropriate work environment for the foreign investments in order to enforce the national economy.

   Mr. Al-Luiebi met with the deputy minister for up-streaming and the head of the committee of preparing the road map to review the notes of EITI.

   Mr. Al-Luiebi said also that “we confirm on our keenness to communicate with EITI and strengthen the relations with them. We also ordered to form a high level committee headed by the deputy minister for up-streaming, in addition to the members whom are, the deputy in the parliament for energy committee, a member from the stakeholders, a director general from the general secretariat of the cabinet and a director general from the ministry of finance. The tasks of the committee will be the preparation of the road map to bring Iraq back to the initiative after stopping its membership temporarily and prevent the miss-understanding, by making some procedures to re consider the notes in the report of the initiative and work on to issue the reports about the extractive industries and the outcomes”.

   Mr. Al-Luiebi confirmed also on supporting the committee and preparing all the available capabilities to achieve the planned targets. And in order to confirm on the previous generalizations… the ministry of oil called the international extractive companies whom the ministry contracted with them during the licensing rounds and the buyer companies of the crude oil to commit with the standards and requirements of EITI.

   Mr. Kareem Hattab the deputy minister for up-streaming and the head of the committee said that the committee have made many meetings and prepared the mechanisms to apply the directions of the federal government and the minister of oil to participate actively in the activities of EITI to coordinate in order to put the plans and programs to apply the transparency standards and provide the initiative with the required information according to the depended requirements. As well as to cooperate with the society organizations, the stakeholders and the concerned authorities with the oil affairs.

   It is worthy to say that Iraq joined EITI at January the 9th of 2010 and approved officially at January the 10th in the same year. It also issued its first report at 2011. And the ministry of oil is issuing the reports of the exported quantities, the oil prices and the buyer companies monthly.

Source: Ministry of Oil


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