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You are here:  Home / Energy Resources / U.S. still focused on Iraq oil law

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U.S. still focused on Iraq oil law

Published: Oct. 3, 2007 at 4:48 PM
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WASHINGTON, Oct. 3 (UPI) -- U.S. officials continue to focus on Iraq’s national oil law after the Kurdish region unilaterally approved four more controversial oil deals with foreign firms.

The Kurdistan Regional Government announced Tuesday it had signed two production-sharing contracts with a subsidiary of the Canadian firm Heritage Oil (OTCPK:HRTIF) and Gas and a subsidiary of the French firm Perenco S.A. The KRG statement said the two other deals would be signed soon, and more deals are in the pipeline.

The Iraqi federal government has been unable to reach agreement on a national oil law that would govern the vast Iraqi oil sector, determining the role of the federal/regional/provincial governments as well as the extent the private sector would be allowed to invest. That law is stuck in Parliament.

White House spokeswoman Dana Perino said Wednesday she hadn’t heard about the KRG deals but stressed “we obviously want the (federal) oil law to be passed.â€

U.S. State Department spokesman Sean McCormack said Secretary of State Condoleezza Rice urged Baghdad to make progress on the oil law during a meeting with visiting President Jalal Talabani.

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