ISSN: 1817-5880

Author : Humood Hassan Albu-Ali, Yahya

Features of the oil policy in Iraq

Yahya Humood Hassan Albu-Ali

Gulf Economist, Volume 31, Issue 25, Pages 54-104

The significance of this study comes from the importance of procedures, means and oil laws that control the oil sector in Iraq, and essentially effect on the oil sector expansion as a main factor for developing the economy. The problem of this study stated that the weakness or failure of the oil policy in Iraq will inversely reflected on the financial capacity due to the major role of the oil revenues in Iraq. Accordingly, the paper will explore the reality of oil policy and its former relationship in order to specify the nature of its future relationship.
This study aims to identify the relationship between Iraq and foreign oil companies in terms of different investment formulas. And the level of the loss of Iraqi oil industry which caused by unnatural circumstances. Also, this study tries to answer whether the former relationship between Iraq and foreign companies has an impact on the oil and economic situation in Iraq?
Furthermore, the assumption of this study argues that " the oil sector in Iraq is not normally developed, where it heavily influenced by wars, sanctions and the weakness of administration. However, the research layout is designed to be addressed the following aspects: The Iraqi oil in the Ottoman rule era, the time of colonialism after world war I. And then the time of monarchy 1921-1958. As well as, features of the oil policy after 1963, the Iraqi oil at the time of nationalization, and at seventeenths and the increase of oil prices. Finally, the study is also addressed the Iraqi oil at eighteenth and nineties, and after the political changes in 2003.