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Iraqi Vice President Opposes Draft Oil Bill

Vice President Tariq al-Hashimi (file photo) (epa) May 20, 2007 -- Iraqi Vice President Tariq al-Hashimi says he opposes a draft oil law, saying it gives too many concessions to foreign oil companies.

Al-Hashimi was speaking today in Jordan on the sidelines of an international conference hosted by the Geneva-based World Economic Forum.

Al-Hashimi acknowledged a need for foreign expertise, but stressed that foreign partners should not receive "big privileges" as Iraqis seek to attract them.

Al-Hashimi also said he hopes oil corporations will invest in Iraq, despite ongoing security concerns.

The Iraqi government is debating a draft oil law that allows for dividing the country's vast oil wealth.

Al-Hashimi said his party, the largest Sunni grouping with 44 seats in the legislature, will seek to amend the draft ahead of passage.


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Sharing Iraq's Oil

Sharing Iraq's Oil

The pipeline from Kirkuk to Turkey is one of Iraq's main oil-export lifelines (epa file photo)

THE FUTURE OF THE ECONOMY. The uneven distribution of Iraq's oil resources has long been a source of tension among the country's ethnic and sectarian groups. Since the fall of Saddam Hussein, the tangled quest to find an equitable way to share oil revenues has been a major stumbling block on the road to national unity.


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