KurdistanObserver.com
Kurds Say They Will Oppose U.S.-Backed
Legislation to Regulate Oil Industry
April 30, 2007
BAGHDAD (AP) - Kurdish lawmakers plan to oppose
U.S.-backed legislation to regulate Iraq's oil industry, claiming the government
is seeking a greater voice in revitalizing one of OPEC's former heavyweight
producers, a Kurdish official said Monday.
Kurds hold 58 of the 275 parliament seats - not
enough to defeat the measure on their own. But Kurdish objections could delay
passage of the bill, whose ratification has been strongly urged by the White
House and senior U.S. military officials as a major step toward national
reconciliation.
In February, the Kurdish bloc agreed to support
the draft bill, which would distribute oil revenues among Sunnis, Shiites and
Kurds. The measure was endorsed by the Iraqi Cabinet, but without some technical
provisions.
Kurdish spokesman Khalid Saleh said those put
almost 93 percent of Iraq's oil reserves under control of the state-owned Iraq
National Oil Co. He claimed that would give the government a stronger role in
deciding oil contracts than set out in the draft bill, which gave the Kurdish
regional authorities the right to negotiate and sign preliminary contracts with
oil companies.
''We are not going to support'' the provisions,
said Saleh.
Supporters say the bill would bring billions in
foreign investment that are badly needed for Iraq's devastated economy. Oil
Minister Hussain al-Shahristani had predicted the draft law would be approved by
parliament in April, but it has yet to be debated.
Some Sunni legislators also have raised
objections, saying the oil law would give foreigners too great a role in the
country's major industry. Most of Iraq's oil fields are in the Kurdish north and
Shiite-dominated south.
Iraq is estimated to have about 115 billion
barrels of proven oil reserves, making it the world's third-largest. But Iraq
has lagged in exploration technology and some experts believe the actual figure
is higher.
