Draft law keeps oil in Iraqi hands: officials

Iraqi officials insisted Wednesday that a controversial bill due to be submitted to parliament will keep the country’s oil wealth in Iraqi hands and benefit all of its warring communities.

“Under no circumstances would Iraq relinquish its authority, its responsibility and its control over Iraq’s natural resources,” Oil Minister Hussein Shahristani told reporters in the United Arab Emirates.

The bill, approved by the Shiite-led government in February after months of wrangling, opens Iraq’s oil sector to foreign investors.

AfricaAsia