Iraq will be unable to pass its oil and revenue-sharing laws by this summer because of ongoing political disagreements, the chairman of the Iraqi parliament’s Oil and Energy Committee said in London today.
While President Barack Obama takes credit for keeping a 2008 campaign promise by ending the war in Iraq this month and pledges to wind down the war in Afghanistan by 2014, foreign policy offers a less certain election weapon.
Iraq, the second-largest producer in OPEC, won’t reach its target of pumping 4.5 million barrels of oil a day by next year and plans to announce revised production goals in April, senior government officials said.
Iraq’s Sunni Muslim-backed al- Iraqiya alliance accepted President Jalal Talabani’s invitation for a meeting among all political parties to defuse sectarian tensions after lawmakers linked to Shiite cleric Moktada al-Sadr called for new elections.
Iraq may seek to keep U.S. troops in the country past this year to help with training, a role not requiring the approval of a parliament ready to reject continuation of American combat missions, Prime Minister Nuri al-Maliki said today.
Iraq can produce as much as 5 million barrels a day of oil without needing to ask for OPEC’s permission, as this is a sovereign decision, the chairman of the Iraqi parliament’s oil and energy committee said.