Iraq National Oil Company

A new public opinion poll, has found that a majority of Iraqis oppose plans to open the country's oilfields to foreign investment. 63% of respondents said they would prefer Iraq's oil to be developed and produced by Iraqi public sector companies rather than foreign multinationals. The US government has been pressing Baghdad to pass an oil law by September but most Iraqis say they do not feel adequately informed about the law. Meanwhile UPI is reporting a top member of the Iraqi prime minister's party says the new oil law should be delayed until U.S. occupation forces leave Iraq.

A Hydrocarbon Law which advocates a radical restructuring of Iraq’s oil industry was approved by the Iraqi cabinet in February. It was crafted in secret over an eight month period from July 2006, in consultation with 9 foreign oil companies, the US and UK governments, and the IMF. Iraqi Parliamentarians saw it for the first time this February. Iraqi civil society has had no involvement in the process – despite lobbying for inclusion.