Iraq To Pass New Oil Law

Iraq's new oil law should be passed in the next two months, the country's oil minister said on Friday, pushing back the timetable for passing the key legislation from a hoped-for end-May.

Hussain al-Shahristani is in India to drum up investment interest in Iraq's oil sector, but oil firms are waiting for the oil law to pass before deciding on putting their money into the country.

The legislation is crucial to regulating how wealth from Iraq's oil reserves would be shared by its sectarian and ethnic groups.