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Walkingstick: SNIPPET:

Iraq establishes National Oil Company

March 16, 2018

When it comes to the expected benefits from passing the draft law for the company, member of the parliamentarian oil and energy committee Zaher al-Abadi told Al-Monitor, “The draft law will place the oil production from extraction to exports and manufacturing in Iraqi hands, provided that the company is run from a professional and modern perspective.” Abadi added, “The Iraqi staff is capable of achieving that after having been marginalized since 2003 when foreign companies received all the opportunities.”

Abadi confirmed that the project "will be an achievement in terms of improving income per capita. 

The Iraqi people will have a 10% share of the oil revenue.” He said that citizens' shares will be placed in a bank account.

But Jawahiri does not believe this will benefit Iraqi citizens; he thinks that “the decision to guarantee the citizen’s share is nothing but a political and electoral campaign.