Tuesday, July 03, 2007
Iraqi parliament to debate amended draft oil law
Oil
(BBC) - The Iraqi government has approved an amended draft law on how to share the country's oil wealth, officials say. Government spokesman Ali al-Dabbagh said parliament would begin debating the bill on Wednesday. There are no details about changes to the original draft, which Kurdish groups objected to.
Correspondents say distribution of oil revenues is a key concern for Sunni Arab groups, who live in areas which are mostly without oil reserves. The original draft, approved by the cabinet in February, stipulated that a state oil company would take control of oilfields away from regional governments. But Kurdish organisations said such moves were unconstitutional.
They reached agreement with the government in June that the authorities in Iraqi Kurdistan would receive 17% of all oil revenues. The United States has been pressing Iraq to pass an oil law, as part of several legislative measures to promote reconciliation among Iraq's religious and ethnic groups. Iraq's known oil reserves have been estimated at 115 billion barrels, but production has fallen since the US invasion from 3.5 million to two million.
Correspondents say distribution of oil revenues is a key concern for Sunni Arab groups, who live in areas which are mostly without oil reserves. The original draft, approved by the cabinet in February, stipulated that a state oil company would take control of oilfields away from regional governments. But Kurdish organisations said such moves were unconstitutional.
They reached agreement with the government in June that the authorities in Iraqi Kurdistan would receive 17% of all oil revenues. The United States has been pressing Iraq to pass an oil law, as part of several legislative measures to promote reconciliation among Iraq's religious and ethnic groups. Iraq's known oil reserves have been estimated at 115 billion barrels, but production has fallen since the US invasion from 3.5 million to two million.
Labels: Ali al-Dabbagh, draft oil law, Iraqi parliament
