Exclusive: The Official Draft of the Oil and Gas Law of The Iraq Republic, 15 Jan 2007 (Full text)
Al-Ghad - translated by Raed Jarrar
...This law legalizes PSAs (production sharing agreements) in Iraq. Iraq will be the only country in the middle east with such contracts privatising Iraqi oil and giving foreign companies crazy rates of profit that may reach to more than three fourth of the general revenue. Iraq and Iraqis need every Dinar that comes from oil sales. In addition to the financial aspects of this law, it can be considered the funding tool for splitting Iraq into three states. It undermines the central government and distributes oil revenues directly to the three regions, which sets the foundations for what Iraq's enemies are trying to achieve in terms of establishing three independent states. Privatizing Iraq's oil and splitting Iraq into three regions are just two negative features of this 29 pages law...
continua / continued
...This law legalizes PSAs (production sharing agreements) in Iraq. Iraq will be the only country in the middle east with such contracts privatising Iraqi oil and giving foreign companies crazy rates of profit that may reach to more than three fourth of the general revenue. Iraq and Iraqis need every Dinar that comes from oil sales. In addition to the financial aspects of this law, it can be considered the funding tool for splitting Iraq into three states. It undermines the central government and distributes oil revenues directly to the three regions, which sets the foundations for what Iraq's enemies are trying to achieve in terms of establishing three independent states. Privatizing Iraq's oil and splitting Iraq into three regions are just two negative features of this 29 pages law...
continua / continued
posted by Kangaroo Brisbane Australia at 4:34 PM
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