Oil laws not likely before January election

Parliament likely to approve income tax on foreign oil firms, long-awaited package of oil-related laws will be up to the next government due to elections and politics-as-usual.

BAGHDAD - The four interrelated draft bills aimed at modernizing Iraq’s oil sector will likely continue their three-year limbo until after the January national elections, when a new government is formed and a new Parliament seated.

The laws could end rancor between parties and allow for both short-term cash and long-term strategic development of Iraq's only cash crop.

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