Iraq revives efforts to revamp oil sector legislation

Iraq's Oil Ministry has reviewed a version of a law governing the country's oil and gas sector and intends to submit it to the Cabinet for approval, a necessary step before it is taken up by Iraq's Parliament.

Along with an amended version of the national oil company law, which is currently awaiting action in Parliament, the oil and gas law would help fill in the legal foundation of Iraq's oil sector in a way that could alter the balance of power between the federal government and the semi-autonomous Kurdistan Regional Government (KRG).