Oil law struggles for daylight

Parliament committee could press for formal validation of existing oil deals with Baghdad and KRG, but efforts are being overshadowed by political crisis.
Oil law struggles for daylight
DNO workers at the Tawke oil field in May 2010. The field is exporting as much as 70,000 bpd, but is curtailed by a political dispute over the legality of DNO's deal with the KRG.(BEN LANDO/Iraq Oil Report)
By Ben Lando and Staff of Iraq Oil Report
Published Thursday, January 26th, 2012

BAGHDAD - The Parliament Oil and Energy Committee is exploring a way to guarantee the sanctity of contracts already signed by both the central government and the semi-autonomous Kurdistan region, in an effort to secure political progress on the long-delayed oil law.

Contrary to local media reports, a crucial law to govern Iraq's highly disputed but massive oil sector is not on the Parliament's formal agenda, as the country weathers a political crisis. Yet the Parliament committee responsible for the legislation is planning to push it forward, and key players consider the recognition of all existing contracts to be the single greatest prerequisite for political progress.

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