Graduate Center for Social and Public Policy
McAnulty College and Graduate School of Liberal Arts
Iraq, Oil, Draft Law, Ownership
The 2007 Draft Oil Law's parliamentary collapse demonstrates that Iraqi legislation must settle the issue of ownership prior to determining foreign investment rules. The draft law has been criticized by western academics for its economic benefits to international oil companies, but in Iraq the law has been rejected more for its ambiguities and its lack of specific ownership language, apart from four disputed, classified annexes listing classifications of oil fields. Rather than pass empty legislation and fill it up at a later point, Iraq must draft its oil revenue sharing laws, model contracts, and an oil ownership law in tandem with creating contract law to sell oil rights.
Jackson, P. (2009). Oil and Paper: Ownership, Economic Development, and Iraq's 2007 Draft Oil and Gas Law (Master's thesis, Duquesne University). Retrieved from https://dsc.duq.edu/etd/691