Thursday, April 19, 2007
KRG will not sign draft oil law
Oil, Kurdistan
(Reuters) - Iraq's Kurdistan Regional Government (KRG) will not sign up to details in the emerging oil law that would centralise control of most of the country's reserves, the region's top energy official said on Wednesday. Disagreement could delay the country's parliament from passing the law, seen as key to attracting billions of dollars in foreign investment needed to overhaul the industry and boost oil output. Annexes to the draft oil law that aim to wrest oilfields from regional governments and place them in the hands of a newly formed state-oil company are unconstitutional, Ashti Hawrami, minister of natural resources in the semi-autonomous region in northern Iraq told Reuters.
Labels: Ashti Hawrami, draft oil law, Kurdistan Regional Government
