5th Economic Forum deals with oil contracts and their effect on production.

The 5th Economic Forum of the Iraqi Alliance for Transparency in Extractive Industries discussed the reality of the shift towards clean energy and the role of oil licensing contracts in the development of the oil sector. Coalition member Dr. Ali Nema said the forum is held periodically to highlight the most important sector in Iraq, as it raises the federal budget by more than 90% of revenues. He said Iraq was seeking a shift towards clean energy, in line with global trends, especially after it joined the Paris climate agreement, noting that the trend needed a decision to boost the infrastructure for the development of clean energy. Dr. Nema pointed out that the delay in the investment of gas by oil companies was the result of the lack of profits that resulted from this, which resulted in the non-investment of accompanying gas, despite the existence of paragraphs for its investment in oil contracts since the second round of licenses. The conference dealt with three themes. The first took the path of energy transformation and its impact on Iraq, and the other axis prospects for development in the general budgets of the state, down to the axis of energy investment contracts and transparency in Iraq.