Iraqi Bill Clarification
The lede below on the Kurdish Baghdad deal on distribution of petroleum receipts contains some inaccuracies, according to Ben Lando of UPI. Apparently the deal is not about the petroleum bill but about distribution of profits. Will link when I can. This is by treo on the side of a mountain in a thunderstorm.
Update: Well, I’m off the mountain and the sun is shining. Here’s the clarification:
Iraqi negotiators have come to an agreement on divvying up revenues from oil sales, a major, though not final breakthrough on a package of oil laws.
The draft of the revenue sharing law on which there has been a breakthrough is is up at the website of the Kurdistan Regional Government.
Another informed reader writes, “It appears that the KRG has reached an agreement with respect to how much revenue they should receive from the federal government as a “block grant” under the budget, but that has nothing to do with the proposed Petroleum Law.
“The proposed Petroleum Law in circulation and receiving comments sets forth the procedures for the award of oil field development contracts.
“It has one provision referring to the establishment of two funds – an “Oil Revenue Fund” and “Future Fund” – but has nothing more about the two funds and expressly calls for additional legislation to deal with them.”