The editorial with the headline "Where is the production of Iraqi oil going?" said it's been five years since the U.S.-led occupation of Iraq, and oil exports are as slow and as moderate as when Saddam Hussein was in power.

It said Iraq has the third-largest oil reserves in the world, and the importance of Iraq therefore lies in oil serving as the main energy source in the foreseeable future, especially since studies have shown that other energy sources are not as efficient or as available as oil.

The Shiite newspaper added that Iraqi oil is the most viable resource to finance the collapsed economy and fund the reconstruction of Iraq.

"The evildoers, terrorists, corrupt officials and smugglers, not to mention political disputes, have created obstacles that prevent production, investment and development of the oil industry," it said.

The editorial also said international oil companies have refused to enter Iraq for the reasons previously mentioned. These reasons also have delayed passage of the hydrocarbon laws in Iraq.

Al-Bayyna added that Iraqis who work in the oil sector and the technical staff with the Iraqi oil companies have challenged these obstacles in order to raise oil production and subsequent revenues so that the Iraqi government could meet its own commitments in the current political climate.

"Last year 2 million barrels a day were exported; the most exported since the occupation in 2003 and equal to that of Saddam's times under the sanctions," the newspaper said.

Oil officials express optimistic numbers and claim oil exports could increase to 2.6 million barrels a day by the end of 2008, up from 2.3 million in the early part of the year, the newspaper said.

It also said that in Kirkuk, where a huge strategic pipeline links Iraq to European markets through Turkey, numbers show exports reaching 2.7 million barrels per day in light of the improved security situation.

Keen on bringing Iraq back to its high-ranking position among oil exporting countries, the Iraqi Oil Ministry and its staff decreased the amount of oil imports and continued to negotiate with other foreign oil firms to boost production and develop Iraqi oil infrastructure while Parliament considers the oil law.

"The oil law would allow these same foreign companies to share oil production, yet prevent them from controlling the oil or the wells, as is rumored in the market," the editorial said in support of the foreign oil companies.

The editorial described the current leadership in Iraq as "professional" and "experienced" in politics and economics following years of living under a dictatorship.

The Basra-based newspaper concluded by noting it is necessary to pass the oil law so the well-deserved Iraqi people can benefit from the revenue.

"The passage of the oil law could prevent outsiders and regional agendas from trying to suffocate the flow of oil from Iraq because they fear the competition from such high-quality product," the newsaper said.