Petrel Resources - moderated discussion/research part II

WASHINGTON (MarketWatch) -- Major international oil companies are unlikely to begin investing in Iraq for at least another year even if a new hydrocarbon law is passed in January, politicians and analysts warn.
In addition to improved security and a new hydrocarbon law, what's needed is a reformed constitution, Iraqi politicians, analysts and insiders say. Only an amended or new national constitution, they say, would create the necessary legal framework for international majors to start making deals to develop the country's vast oil reserves.