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:
“For what shall it profit a man, if he shall gain the whole world, and lose his own soul?”
—Bible: New Testament Jesus, in Mark, 8:36.
“By sharing the information and observations with the caregiver, you have a chance to see your child through another pair of eyes. Because she has some distance and objectivity, a caregiver often sees things that a parent’s total involvement with her child doesn’t allow.”
—Amy Laura Dombro (20th century)