Profit Sharing
The new law authorizes production share agreements (PSAs) which guarantees a profit for foreign oil companies.
The central government distributes remaining oil revenues throughout the nation on a per capita basis. The draft law allows Iraq's provinces freedom from the central government in giving exploration and production contracts. Iraq's constitution allows governorates to form a semi-independent regions, fully controlling their own natural resources.
Read more about this topic: Iraq Oil Law (2007)
Famous quotes containing the words profit and/or sharing:
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