US urging Iraq to develop oil "roadmap"

HOUSTON (Reuters) - The United States is urging Iraqi officials to create a roadmap for developing its vast oil reserves, as one of the first steps to attracting foreign investment, a U.S. official said on Tuesday.

The United States wants Iraq to come up with a model that spells out the legal and regulatory framework that foreign oil companies would work within, said Paul Simons, the U.S. state department deputy assistant secretary for Energy and Sanctions.

Such a model would specify, for example, what shape a national oil company in Iraq would take, he said. The United States has not suggested a preference for any particular model that Iraq should pursue, he said.

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