(July 26, 2006): Iraq Oil Minister Says Drafting of New Oil Law Underway

Iraqi Oil Minister Hussein al-Shahristani tells the Financial Times that the drafting of a new oil law is underway and that Iraq’s parliament will hopefully pass it “by the end of the year.” He says the law “will open the door for the international companies to come and work in Iraq, and develop our new fields…. We have many, many fields that are waiting for development, (and) some of them are giant fields.” [Financial Times, 7/27/2007] Iraq’s legislators are apparently not involved in the drafting of the law. [Time, 2/28/2007]