Iraq oil wealth distribution planned
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Iraqi legislation intended to resolve the politically charged question of distributing the country's oil wealth is nearing completion, the chairman of a panel drafting the law said Saturday.
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With $50-a-barrel in sight, oil traders were glued Friday to developments in Iraq, where tensions between US forces and rebel fighters appeared to ease, raising hopes that attacks against the country&#39;s oil infrastructure would subside.
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The oil law would give the central government the power to distribute oil revenues to the provinces based on their population.
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Saddam Hussein's regime in Iraq wanted foreign cash to build thousands of concrete bunkers to bury dead Kurds, an Australian inquiry into abuses of the UN oil-for-food programme has heard.
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Iran wants to develop previously untapped oil fields shared with neighboring Iraq, a move that will benefit the two countries which fought a war in the 1980s, an Iranian oil official said on Saturday.
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The purchase, which ConocoPhillips, the American energy conern, made at an auction today for the Russian government's stake in Lukoil, sets the stage for projects in Iraq.
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The Iraqi cabinet approves a draft law allowing Iraq's oil revenues to be split between ethnic groups.
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Iraq's prime minister announced a new plan Monday aimed at ending the deepening crisis between Shiite and Sunni parties in his government and uniting them behind the drive to stop sectarian killings that have bloodied the country for months.
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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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Iraq's cabinet on Monday  endorsed a draft oil law crucial to regulating how wealth from  the country's vast oil reserves will be shared by its ethnic  and sectarian groups, a move hailed as a major political  milestone.
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Country tries to keep low profile for northern export line, still vulnerable to sabotage attacks. LONDON  - Iraq plans to quietly resume sales of its Kirkuk crude for the first time since May, hoping
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Among the political benchmarks the Bush administration has embraced to chart progress in Iraq, approval by the Iraqi parliament of a hydrocarbon law looms large. Oil provides 95 percent of Iraq's national income, making the recovery of the country's oil sector critical to reducing the United States'...
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Prime Minister Nouri al-Maliki's Cabinet has approved a draft of a key oil law, and the Iraqi parliament was expected to begin debate on the measure Wednesday, an official said.
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New estimates of the amount of oil and natural gas on Sunni lands are likely to have significant political effects.
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BAGHDAD, Iraq - Insurgent attacks on pipelines have brought oil exports from southern Iraq to a complete halt, a senior oil official said Monday, part of a rebel campaign to undermine the nation's post-war reconstruction efforts.    In Baghdad, military officials and representatives of rebel Shiite cleric Muqtada al-Sadr held talks Sunday aimed at reducing violence in the restive Baghdad slum of Sadr City...
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Iraq is considering building a $2 billion  petrochemical plant and could begin talks with potential  international investors in the project this year, the country&#39;s  industry minister said on Sunday.
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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...