Iraq oil wealth distribution planned

BAGHDAD, Iraq – Iraqi legislation intended to resolve the politically charged question of distributing the country’s oil wealth is nearing completion, the chairman of a panel drafting the law said Saturday.

The distribution of oil revenues, the mainstay of
Iraq’s economy, is at the heart of some of Iraq’s most contentious political issues, including the push by Shiite leaders to allow the oil-rich south of Iraq to set up a self-rule region a similar to a Kurdish one in the north.

“We have reached important agreements. I cannot put a timeframe on when it will be ready, but we are very keen on achieving that as soon as possible,” Deputy Prime Minister Barham Saleh, a Kurd who chairs the committee, said. “We hope that we will reach a comprehensive agreement that will enhance the oil sector and make oil a unifying factor to all Iraqis.”

He said, however, that key issues still need to be resolved, including “the administration of the oil sector, deals and contracts.”

AP