How surprising!

SpeigelOnline:
"The Iraqi government is considering a new oil law that could give private oil companies greater control over its vast reserves. In light of rampant violence and shaky democratic institutions, many fear the law is being pushed through hastily by special interests behind closed doors."
[snip]
"Oil, of course, can be politically explosive at the best of times, let alone the worst. So, when the country with the third largest oil reserves in the world debates the future of its endowment during a time of civil war, people sit up and take notice.

The Iraqi government is working on a new hydrocarbons law that will set the course for the country's oil sector and determine where its vast revenues will flow. The consequences for such a law in such a state are huge. Not only could it determine the future shape of the Iraqi federation -- as regional governments battle with Baghdad's central authority over rights to the riches -- but it could put much of Iraqi oil into the hands of foreign oil companies."

(My bold)

Update: Thanks to Tengrain's comment, I did research on the ISG's recommendations for Iraq and its oil. Sure enough:

"In other words, the United States will transform its military occupation into a management occupation.

We would help the Iraqis set up this new oil industry, and in turn--well...this is obvious--the United States would become customer "numero uno" to this new oil industry. We teach the Iraqis how to use corporations to turn oil reserves into billionaires, and a few close friends of the Bush family get to call the new Iraqi oil tycoons "cousin"--just like Saudi Arabia."

[snip]

"And hence, whereas the Neo-Cons saw themselves as creating an free market garden of eden that would transform Iraq, the Middle East and the world, the ISG has proposed creating an oil nationalism that would transform Iraq, the oil tycoons of Texas and Saudi Arabia, and the oil tycoons of the world (who mostly live in Texas and Saudi Arabia).

Saudi Arabia 2.0 is what we would get: an oil nation run by immoral princes with special relationships to oil conglomerates in the U.S."

And here:
"In other words open it up to Western Big Oil companies. No nationalization, let the companies make the profits."