Letter from Neil Hurst to George Fergusson on Iraqi Oil Industry Governance 7.1.2004
This letter highlights the importance of ensuring the enforcement of policies that promote good governance. It endorses 2 key principles that should be established within the Iraq Oil Sector: the separation of powers between the government and the operating companies that manage developing oil resources and the transparency of oil accounts. Discussing the importance of these highlights to scholars’ efforts to reduce corruption within the oil sector and within the governing process of Iraq.
This establishes a precedent within British approaches to the Iraqi oil sector that business and trade will be fair and transparent. There is some discussion of the US reacting in a negative manner to Britain’s suggested approach. This is approached by the letter with caution as it is unclear as to whether the US will approach the Iraqi Oil Sector with the same desire as Britain to instil the same values.