Sweeter deals for private refinery investments

Private investors in Iraq's refining sector will now get a 5 percent discount on a guaranteed supply of crude for 50 years, according to an amendment to a nearly three-year-old refineries investment law.

The amendment must be approved by Parliament, which will not be formed until after the much-contested results of the March 7 elections are finalized.

Though the law was approved in 2007, no companies have taken up the government's offer of reduced-tax or tax-free land.

The Council of Mi...