Iraq takes step closer to landmark oil law
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Iraq's cabinet approved changes to a draft hydrocarbon law on Tuesday and sent it to parliament for immediate debate, taking a big step towards meeting a key political target set by the United States.
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Iraq is producing an average of 2.5 million barrels of oil a day, its highest level since the war began in 2003, an oil ministry spokesman said Wednesday.
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Sunni Arab and Kurdish politicians and a powerful Shiite party said Wednesday they had not agreed to a draft bill to regulate the country's oil industry, raising the possibility of new delays in a major piece of benchmark legislation sought for months by the United States.
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23 September 2004 (RFE/RL) -- Interim Iraqi Prime Minister Iyad Allawi told a joint session of the US Congress today that his country is making progress in its effort to create a stable Iraq despite obstacles.
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Iraq's crucial oil and electricity sectors still need roughly $50 billion to meet demand, analysts and officials say, even after the United States has poured more than $6 billion into them over more than four years.
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The measure does not set the timetable for a troop withdrawal sought by Democrats but requires the Iraqi government to meet a series of benchmarks.
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Iraq's main political parties are deadlocked over a key oil law and the legislation has been sent back to party leaders to see if they can salvage it, an official involved in the talks said Thursday.
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A draft law allowing Iraq's oil revenues to be split between ethnic groups is sent for a vote in the country's parliament.
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Despite the obstacles, the president said progress has been made in Iraq this year and expressed continued confidence that the oil-rich nation will be transformed into a democratic beacon in the Middle East.
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The oil deal signed between Hunt Oil and the government in Iraq's Kurdish region earlier this month has raised eyebrows, in no small part because it appears to undercut President Bush's hope that Iraq could draft national legislation to share revenue from the country's vast oil reserves. Making the...
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BAGHDAD -- The Iraqi Cabinet approved a draft law yesterday to manage the country's vast oil industry and distribute its wealth among the population -- a major breakthrough in US efforts to press the country's Shi'ite, Sunni, and Kurdish groups to reach agreements to achieve stability.
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The Iraqi Cabinet approved draft legislation Monday to manage the country's vast oil industry and divide its wealth among the population
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Attempts to pass a key oil law sought by the U.S. were snarled once more Wednesday by deep differences among Iraq's Sunni, Shiite and Kurdish leaders, delaying parliament debate despite the prime minister's claims of a breakthrough.
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Iraq's presidency council said on Sunday a measure that would give thousands of former members of Saddam Hussein's Baath party their old jobs back had become law, finalizing a key piece of legislation sought by Washington.
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Iraqi and European Union officials agreed Thursday to pursue closer energy ties, bringing the EU a step closer to turning Iraq into a major supplier and reducing its dependency on Russia.
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Iraq's top Shi'ite, Sunni Arab and Kurdish leaders announced on Sunday they had reached consensus on some key laws that Washington views as vital to fostering national reconciliation.
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Iraq's parliament might take a week to start debating a landmark draft oil law, officials said on Wednesday, as complaints from Kurdish authorities and Sunni Arab politicians signaled its passage could be rocky.