A founder of Iraq's National Oil Company (INOC) stated that Iraq's draft oil law has many mistakes that must be corrected before international companies are to invest in the country's capital or technology, Iraq Directory reported.
He went on to say that the draft law has importance in securing the billions of dollars necessary in increasing the country's oil output to the desirable level and further to rebuild Iraq's economy.
Iraq's new oil draft law is also looking for a newly established INOC to control the country's current oil fields and to set up a national federal oil and gas council.
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