Iraq parliament approves oil refinery law allowing foreign investment

Above: Oil facilities in Iraq. The law is separate from a draft hydrocarbons law that will govern overall exploration and production.

BAGHDAD - Iraq’s parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.

According to the law, regional governments and provincial authorities will be able to deal individually with foreign companies, sign contracts and award licences for the construction of refineries...

The Iraqi Oil Ministry should supply crude oil to the investing companies according to export price of Iraqi crude, minus the cost of moving the oil to the nearest delivery point to the refinery and a one percent discount, the laws says.

Investing companies have the right to set the prices of refined oil, the law says, and sell the refined oil both within Iraq and externally.

Investing companies will be able to use Iraqi storage, port and pipeline facilities for export, according to contracts to be signed by the two parties.

Read the rest at Khaleej Times

Related Link:
Perspective: Pumping Iraq

Related Link:
Maliki raises oil worker wages

Related Link:
Intelligence Report: No Iraq oil law by September

Related Link:
Hundreds of oil workers protest against oil law

Related Link:
Kurd officials oppose oil law

Related Link:
Analysis: Basra tears itself apart

Related Link:
Debate delayed on oil law

Related Link:
Oil Minister: Saddam oil deal with China still in effect

Related Link:
Report: China forgives $8 billion Iraqi debt

Related Link:
DOD Report: Iraq hoarding billions in oil investment money

Related Link:
Opinion (Michael T Klare): The wars that oil the Pentagon's engine

Related Link:
Perspective: Oil law not what it's claimed to be

Related Link:
Gates in surprise visit to Iraq to 'assess' surge, warn Maliki on oil law

Related Link:
Negroponte warns Maliki on oil law

Related Link:
Report: Fallon warns Maliki on oil law

Related Link:
Opinion (David Bacon): Iraqi unions fight to keep oil out of corporate hands

Related Link:
Oil strike 'on hold' after strikers surrounded by Iraqi troops; May resume Monday

Related Link:
Report: Maliki orders arrests of striking oil workers for 'sabotaging the economy'

Related Link:
600 pipeline workers go on strike in Basra, cutting Baghdad supply

Related Link:
Report: New U.S. strategy seeks to purge Iraqi government while keeping troop levels high

Related Link:
VP Hashemi opposes U.S.-backed draft oil law

Related Link:
U.S. Draft Report: Billions in oil missing

Related Link:
Report: Kurds will oppose draft oil law

Related Link:
Report: Iraq could have twice as much oil as estimated

Related Link:
Perspective: Protecting Iraq's oil supply

Related Link:
Sources: Maliki fears U.S. will torpedo government over oil money

Related Link:
Two key Iraq parties oppose oil law

Related Link:
Perspective: Whose oil is it, anyway?

Related Link:
Opinion (David R. Francis): Why Iraq's new oil law won't last

Related Link:
Perspective: Who Will Get Iraq's Oil?

Related Link:
Sunni clerics group attacks Iraq's draft oil law

Related Link:
Perspective: Troubles for the Iraq Oil Deal

Related Link:
Analysis: Basra center of Iraq's oil smuggling, and a microcosm of the war

Related Link:
Analysis: $700 million a month lost in oil smuggling

Related Link:
Opinion (Antonia Juhasz): It's still about oil in Iraq

Related Link:
Analysis: Iraq's oil industry in grip of despair

Related Link:
Bush says defeat in Iraq could push oil to $400 a barrel

Related Link:
Report: Iraq oil industry in $16 billion shortfall over last 2 years

Related Link:
Major oil companies maneuver to win stake in Iraq