WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2007-02-28 Time: 00:00:00 Posted By: Jan
Monday, 26 February 2007, 22:13 GMT
Iraq’s oil industry has suffered amid the ongoing conflict
Iraq’s cabinet has approved a draft of a national oil law that would share revenues from the country’s vast oil reserves among its ethnic groups.
Prime Minister Nouri Maliki described the agreement as a “gift to all the Iraqi people”.
Iraq’s Shia majority and Sunni and Kurdish minority groups have squabbled over how to distribute oil revenues since the US-led invasion in 2003.
The draft bill must now be submitted to Iraq’s parliament for a vote.
The cabinet decision to back the oil law came two months after the government’s own deadline for legislation to come into force.
Iraq has the world’s third-largest proven reserves of oil.
Most current reserves are in the Shia-dominated south of the country, with the best prospects for future drilling in the Kurdish north.
Regional split
The new law was approved by the cabinet after Kurdish groups backed the proposals over the weekend.
“This law has been based on our national interest,” Mr Maliki said.
“It will encourage the bringing together of all component parts of the Iraqi people,” he told a news conference.
Correspondents say the drawn-out process of passing an oil law has been a symbol of the struggle of Iraq’s ethnic groups to work together to build a stable, independent nation.
Under the terms of the deal oil revenues would be split among Iraq’s 18 provinces based on population levels.
That has been seen as a concession to Sunni Muslims in the centre of Iraq, where there are few oil reserves.
The draft law also lays out method for international companies to invest in Iraq’s oil industry, reports say.
Foreign investors have stayed away from Iraq during the past few years of violence and uncertainty.
Source: BBC News
URL: http://news.bbc.co.uk/2/hi/middle_east/639925…br>
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