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:
“You taught me language, and my profit on’t
Is, I know how to curse. The red plague rid you
For learning me your language!”
—William Shakespeare (1564–1616)
“... probably all of the women in this book are working to make part of the same quilt to keep us from freezing to death in a world that grows harsher and bleaker—where male is the norm and the ideal human being is hard, violent and cold: a macho rock. Every woman who makes of her living something strong and good is sharing bread with us.”
—Marge Piercy (b. 1936)