IRAQ'S OIL (video - Inside Iraq programme on Al-Jazeera)

INSIDE IRAQ programme

IRAQ’s OIL
"Iraq floats on oil" is one mantra repeated all over the Middle East, "The Americans invaded Iraq to steal its oil" is another.However, recently Iraq has signed one oil contract and several memoranda of understanding with different energy companies. While these contracts are "service contracts" and not the dreaded "profit sharing agreements" the question is are they legal?With no oil law in place, what will happen to these contracts in the future? Will they be challenged by a concerned Iraqi parliament?

To discuss this Jasim Azawi is joined by Hussain al-Shahristani, Iraq's oil minister, and Issam al-Chalabi, the former Iraqi oil minister.