Iraq oil law stalled, no end to impasse in sight

BAGHDAD (Reuters) – A law that could shape Iraq’s future by clearing the way for investment in its oil fields is deadlocked by a battle for control of the reserves and no end to the impasse is in sight, lawmakers and officials say.

The bill is also meant to share revenue equitably from the world’s third largest oil reserves, thus helping bridge the deep divides between Iraq’s Shi’ites, Sunni Arabs and Kurds.


The one thing all sides agree on is the law is vital to securing foreign investment to boost Iraq’s oil output and rebuild its shattered economy after five years of insurgency and sectarian fighting that has killed tens of thousands of people.

But the law remains stalled by bitter rows between Baghdad and the largely autonomous Kurdistan region in the north over who will control the fields and how revenue will be shared.

“Basically we’re talking about political will here,” said a U.S. official in Baghdad, who asked not to be identified.

Reuters