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Iraqi cabinet approves oil draft law
The Iraqi Prime Minister said that the Iraqi Cabinet accepted a draft law which states how Iraq's oil profits will be shared, it will also outline terms of how foreign oil agencies will be able to operate in the country, Iraq Development Program reported. Under the terms of the new draft law, the Iraqi National Oil Company (INOC) will be independently functional and joined with oil companies around the country. Iraq's Deputy Prime Minister stated that the oil sector's profits will be put in a central account and distributed according to population and that the draft law will be put...
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