OPEC member Iraq may target awarded oil contracts in an ongoing anti-corruption crackdown launched by Prime Minister Ali Al-Zaidi, an MP has said.

Al-Zaidi announced last week that he intends to intensify the anti-corruption campaign in the next days to include fleeing officials abroad.

Jassim al-Moussawi, a member of Parliament’s oil and gas committee, said on Saturday that the committee intends to review all oil contracts and licensing rounds.

He told the official daily Al-Sabah that this file requires a comprehensive audit to identify the nature of the problems that arose during the implementation phases and “address them in a manner consistent with the national interest.”

“The review process is not limited to licensing rounds alone, but extends to various projects related to oil production, refining, and investment, with the aim of developing practical solutions that enhance performance efficiency and ensure optimal utilization of national oil resources,” he said.

Al-Sabah, which issued by the information ministry, said the reform of the oil sector is closely linked to the fight against corruption.

“Government and oversight bodies affirm that protecting public funds is not limited to recovering money or prosecuting those involved, but also includes ensuring the transparent and efficient management of national resources,” the paper said.

Over the past three years, Iraq has awarded oil and gas concessions to several foreign companies, mostly from China, as part of licensing rounds 5 and 6.

The deals have triggered criticism on the grounds they would enable Chinese firms to control the country’s massive hydrocarbon industry.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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