Iraq's new draft hydrocarbons law will pave the way for 'transparent and fair' competition

[Dover]

BAGHDAD, Iraq: A new draft hydrocarbons law will pave the way for "transparent and fair" competition in bids to develop Iraq's oil wealth, the oil minister said Sunday as he seeks to restore the confidence of global oil companies in the national industry.

The oil minister, Hussain al-Shahristani, said that new oil fields will be added as new tenders will be issued according to this law for global oil companies.

"The competition will be transparent and fair and companies will be chosen according to their modern technological capabilities to guarantee the highest benefits for Iraqis," al-Shahristani said at a news conference. "We will not consider their nationalities and we will ignore any contract doesn't achieve the highest benefits."

Al-Shahristani refused to say how long the law will take to be approved by the parliament and did not release more details about the negotiating mechanisms the ministry will adopt for dealing with global companies.

The oil minister also cautioned that attacks against oil installations and employees were increasing, saying that 289 oil employees were killed over the past year and 179 others were wounded.

...>

http://www.iht.com/articles/ap/2007/01/21/business/ME-FIN-Iraq-Oil-Law.php

[acmavm]

1. This is comedy/satire, right??

<snip>

"The competition will be transparent and fair and companies will be chosen according to their modern technological capabilities to guarantee the highest benefits for Iraqis," al-Shahristani said at a news conference. "We will not consider their nationalities and we will ignore any contract doesn't achieve the highest benefits."

<snip>

[Bigmack]

2. I think you've let the seeds...

... of doubt about the US motives in Iraq grow into a mighty forest of skepticism.

Just look at all the good the US has done in Iraq! The US has helped them set up a real democracy, and now they can use the free market to sell their oil. That was the US goal all along! Mission Accomplished!

(Deepest, darkest :sarcasm: intended)