The new Iraqi OIL LAW

I had a brief look, but Im a bit tied up at work so ill print a copy and have a look tonight.

any comments?

Its typical legal jargon, but are Big US OIL companies going to profit?


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Chapter I : Fundamental Provisions
Chapter II: Management of Petroleum Reserouces
.....

Where did this document originate from? Its an impressively written one, but it is not marked with any government seals - can we be certain it is genuine before discussion?

Looks like a draft, argh I forget the term, but a document to set up the structure and describe basic rules of operation of an organization or operation. In this case how to run Iraqi their oil.


Yeah US oil interests will be served. I thought this was going to be THAT contract. Where 'we' get control of the industry for 20 or 30 years and pay the Iraqis 20% of the profit. I think the usual % for this kind of foreign deal is 75%, but the lower % was justified by the risk, how quickly we will (supposedly) be able to get the industry back on its feet, and some other stuff. My numbers are likely off, but the gist is the same. Not sure if this contract was agreed on or not.