WASHINGTON, April 3 (UPI) -- Negotiators are hammering out a new draft Iraq oil law after previous versions stalled, and as Parliament is moving forward on two new laws, one reconstituting the state oil company and another cracking down on oil and fuel smuggling.

"Shortly, we'll see a new draft which there is more common ground," said Abdul-Hadi al-Hasani, deputy chair of the Iraqi Parliament's Oil, Gas and Natural Resources Committee, which has already seen four versions of a draft oil law. The latest draft is based on "good dialogue" between the central and Kurdistan region governments, he said, and the Council of Ministers will soon approve it and send it to his committee.

A new oil law has officially been in the works for two years, and sources United Press International spoke to both echoed Hasani's optimism as well as said a divide over the law remains too large.

The law is one piece in a four-part package of legislation aimed at modernizing Iraq's oil sector.

Another is a law re-establishing the Iraqi National Oil Co., the state company dissolved as Saddam Hussein consolidated power over Iraq's oil via the Oil Ministry. Hasani told UPI in a telephone interview from Baghdad that the INOC law has been passed from the Council to his committee.