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Petrel Resources - moderated discussion/research part II
Fatgreek - Thu, 21 Dec 06 :
Iraqi officials reach a tentative deal on oil law
12/21/2006 Reuters
Baghdad - Iraqi officials have reached a tentative deal on an oil law that would allow the regions to negotiate oilfield contracts with foreign investors but gives the central government the final say.
Iraq desperately needs foreign investment to revive its shattered economy, which relies heavily on oil export revenues. The country straddles the world’s third largest oil reserves.
Sources close to the negotiations said Prime Minister Nuri al-Maliki has "signalled his approval" of the draft, but the law still awaits political approval and endorsement by the cabinet.
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