Iraq: Oil and Gas Legislation, Revenue Sharing, and U.S. Policy
includes an oil and gas sector framework law and three supporting laws that would
outline revenue sharing mechanisms, restructure Iraq’s Ministry of Oil, and create an
Iraqi National Oil Company. Both the Bush Administration and Congress consider
the passage of oil and gas sector framework and revenue sharing legislation as
important benchmarks that will indicate the current Iraqi government’s commitment
to promoting political reconciliation and long term economic development in Iraq.