sentences:  Iraq oil law (2007)
  
  The Iraq Oil Law, also referred to as the Iraq Hydrocarbon Law was a piece of legislation submitted to the Iraqi Council of Representatives in May 2007 that laid out a framework for the regulation and development of Iraq's oil fields.The legislation started when the U.S.-backed Iraqi cabinet approved a new oil law that was set to give foreign companies the long-term contracts and the safe legal framework they have been waiting for.