Iraq’s oil minister is predicting Iraq is months away from approving a long-awaited oil law. The measure has stalled in Parliament over disagreements on regional distribution and the involvement of foreign firms. Speaking at the OPEC summit in Saudi Arabia, Hussain al-Shahristani said the law would cancel any current oil deals signed by the regional Kurdish government in northern Iraq.

Iraqi Oil Minister Hussain al-Shahristani: “Those contracts have no standing with the government of Iraq, and we have informed and warned the companies that they bear the full consequences of signing such contracts, and Iraq will not allow its oil to be exported under any such provenance.”

Al-Shahristani also said oil cooperation with Iran is advancing, with plans to supply Iran with 100,000 barrels a day through a southern pipeline.