Biden talks oil in Iraqi Kurdistan

ERBIL, Iraq, Sept. 18 (UPI) -- Kurdish leaders in Iraq welcomed U.S. Vice President Joe Biden to discuss outstanding issues with the central government regarding national oil wealth.

Biden met with Iraqi President Jalal Talabani and Massoud Barzani, the president of the Kurdistan Regional Government of Iraq, in an effort to find a resolution to oil issues with the central government in Baghdad.

Iraq lacks a national hydrocarbon law that outlines the terms of the sharing of oil revenue in the country and for regulations for foreign companies to invest in national oil and gas fields.

The government, however, has moved forward with a round of bidding for international contracts in Iraq, while the KRG moved ahead with oil exports earlier this year.

Biden said during a news conference with Barzani that he sees the Kurdish government is moving forward with its talks with Baghdad in a positive fashion, Voice of America reports.

Barzani, for his part, said he was committed to finding a resolution within the provisions outlined in the Iraqi Constitution.

Biden said it was imperative for Baghdad to end the impasse over the hydrocarbon law.

Iraq is set for its second round of oil auctions in December.