The current political tensions in Iraq are likely to delay the finalisation of a new hydrocarbon law for more than a year, according to Reuters.

“With these chronic political differences I can’t see any possibility of having an oil law this year,” said Adel Barwari, a Kurdish adviser to Maliki.

“If the [differences] were, say for example, 2 or 3 percent, I would say yes we could have a law, but the percentage is much higher.”

(Source: Reuters)