Iraqis water down the draft oil law

BAGHDAD – Iraqi officials said Friday that a U.S.-backed draft oil law will soon be returned to the Cabinet for approval after Kurds agreed to a compromise revenue-sharing measure. But they said many key sticking points remain unresolved


Kurds, who have big reserves and active fields in the north of the country, balked at previous draft legislation, believing it did not guarantee them a fair share of the revenue from fields they control or hope to control.

Shiites, who control major resources in the south and who have taken political control of the government after years of oppression under Saddam Hussein’s minority Sunni rule, have been reluctant to share revenues with their former tormentors.

AP