[JURIST] The semi-autonomous Kurdistan Regional Government [official website] in Iraq has adopted the "Kurdistan Oil and Gas Law" after KRG Prime Minister Nechervan Idris Barzani [official profile] signed legislation Tuesday that will allow the Kurdish government to control its own oil resources and select its own foreign investors. The Kurdish government says that the law, passed by the Kurdistan National Assembly [press release] on Monday, is consistent with the Iraqi constitution [JURIST news archive]. The law requires the KRG to share oil revenues with the Iraqi federal government and other regions. Barzani hailed the law as "a historic moment" [press release], saying that the law will allow the people of the Kurdistan region to benefit from its natural resources and will also benefit the whole of Iraq.
The national Iraqi Council of Representatives [official website, in Arabic] entered into summer recess last week despite failing to pass key legislation [JURIST report] and constitutional amendments seen as essential to the stabilization of Iraq. The national draft oil revenue bill [JURIST news archive] has been delayed by successive legislative boycotts and is a source of tension [JURIST reports]. Sunni politicians have pushed for federal control over oil revenues and approval rights for foreign development, while Kurds have been adamant about retaining domestic control in oil resources. AP has more.