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In the same report, IEA estimated that such an increase would bring Iraq a total of $5 trillion in revenues from oil exports between 2012 and 2035, averaging $200 billion per year. Iraq’s economy is dependent on the oil and gas sector.
The Iraqi Federal Oil and Gas Law 2011: Exploration, Exploitation and Expropriation. Yanal Abul Failat. 2013, International Energy Law Review. In Iraq, a severe crisis has affected the country's primary infrastructure, through years of war and political turmoil.
They also argue that due to government-business vested interests, Anglo-American IOCs are helped by the US and UK governments in getting the best possible oil exploration and production deals with the Iraqi government. The February 2007 draft Iraqi Oil Law is an oft cited example.
15 Ιαν 2007 · English Translation of the Draft Oil and Gas Law of the Iraqi Republic dated 15 January 2007
This law establishes the regime for the management of Petroleum Operations in the Republic of Iraq, taking into account the existing international treaties between the Republic of Iraq and other countries on Crude Oil transportation.
This study provides a thorough-going review of every conceivable angle on Iraqi oil and gas law, from rele-vant provisions of the Iraqi Constitution of 2005; to legislative measures comprising the oil and gas framework law, the revenue-sharing law, and the laws to reconstitute the Iraq National Oil Company and reorganize the Ministry of Oil; to ...
Oil, Iraq, and American foreign policy The continuing salience of the Carter doctrine For years to come, historians are likely to ponder the reasons that led the United States to invade Iraq in March 2003 - an invasion that has cost many lives and vast treasure but has yet to result in the establishment of a stable, legitimate regime.