Iraqi Cabinet backs oil revenue plan.

at last they are getting down to the real biz -- making that black stuff ( and $$$s) flow in the right direction


"The Iraqi Cabinet has endorsed a long-awaited draft law on the division of the country's oil revenues.
It aims to distribute the income from crude oil exports equitably across Iraq's 18 provinces.
It appears the regions will be able to negotiate their own contracts, but they will be subject to final approval by a federal council in Baghdad.
In addition, the national oil company will be restructured.
Before the final package is approved by Parliament, various annexes and a revenue sharing laws will have to be added.
According to Deputy Prime Minister Barham Salih, a prominent Kurdish politician, the target date for completing the process is the end of May.
-BBC"