IRAQ: Law to allow Big Oil takeover
"We need to change the way we run the oil sector in Iraq. We need to engage with the major oil companies who will bring in investment as well as technology", Barham Saleh, deputy PM in Washington’s puppet Iraqi government, told journalists on the sidelines of a September 10 US-led International Compact for Iraq conference in the United Arab Emirates.
Associated Press reported "Saleh said Iraqi leaders were nearing agreement on a long-awaited hydrocarbon law that would allow potentially huge investments by foreign companies in Iraq’s oil sector", which was nationalised in 1972 and is currently administered by the oil ministry and two state-owned oil companies.
