Iraq to discuss Oil Law (Again!)

Kurdistan’s Prime Minister Nechirvan Barzani has confirmed that discussions with Baghdad over Iraq’s controversial oil law would continue within two weeks.

“We will be traveling to Baghdad to start negotiations on the oil law in two weeks. It’s important that we agree on the law otherwise foreign companies won’t come to invest in our region.”

Disputes between the largely autonomous northern region of Kurdistan and Baghdad have delayed the law for over a year. Barzani said the Kurds were proposing a single package covering oil law, revenue sharing law, Iraqi oil ministry and an Iraqi national oil company to be presented to parliament.

“Baghdad has different views. It’s not about Kurdistan and Baghdad, it’s an economic matter. It’s about state-run and private. We’re supporting private and a free-market economy,” he added.

The international oil companies will hardly be able to control their excitement …. That will be music to their ears…