Iraq urged to decide on oil policy by year-end

[ze_dscherman]

Senior Iraqi oil ministry officials are pushing for Iraq to decide by the end of the year, before a legitimate government comes to power, its oil policy and the legal basis for international oil company involvement in exploiting its massive oil and natural gas reserves.


Faleh al-Khawaja, an official in the economics and finance directorate of the Iraqi oil ministry, said the ministry could submit the investment framework for ratification to a government that takes over from the US as early as next year.

Such an approach would speed up the slow process of getting the foreign investment Iraq so desperately needs, ministry officials at a Geneva conference on Iraq's petroleum sector said.

Critics warn that a legitimate government would have to do more than rubber stamp the plan to avoid the impression that Iraq's crown jewels had been given away under an occupying power.

More: http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1066565218576&p=1012571727102

[The_Casual_Observer]

1. I guess this kind of sums it all up in one little oilly spot

"to decide by the end of the year, before a legitimate government comes to power, its oil policy"