Building a Framework for Oil Sector Development 9.2006
This paper, sent from the British Embassy in Baghdad, discusses the imperative needs of the Iraqi oil sector in order to facilitate its development. These imperatives include the need for a long-term legal and institutional framework that guides the oil sector's development. This, the source suggests, should be led by a high-level political agreement between Iraqi leadership regarding the structure of decision making in the oil sector. It suggests the agreement be guided upon 4 levels: managerial and financial autonomy of business units regulated at the national level, an effective public-sector national oil company, a guaranteed revenue sharing formula and transparency at all levels.
This source is hugely useful to scholars as we are able to gain insight into the depth of British planning regarding this very tenuous industry sector. In addition to intermediate and immediate planning there is also planning laid out for revenue management in order to ensure that profits are divided and used fairly in order to avoid similar circumstances to those which occurred under Hussein’s regime.