Simply Google "Iraq Draft Oil and Gas Law" then read the document for yourself.

While you're at it here's the list of oil fields and operators currently working in Iraq (source: World Markets Research Centre): West Qurna Phase 2 (Lukoil - Russian);
Majnoon (Total - French);
Bin Umar (Zarubezhneft - Russian);
Nasiriya (Eni - Italian, Repsol - Spanish);
Halfaya (BHP - Australian, South Korean consortium, CNPC - Chinese, Agip - Italian);
Ratawi (Shell - Netherlands);
Tuba (ONGC - Indian, Sonatrach - BVI);
Suba-Luhais (Slavneft - Russian);
Gharaf (TPAO - Turkey, Japex - Japan);
Al-Ahdab (CNPC - Chinese);
Amara (PetroVietnam);
Western Desert (ONGC - Indian, Pertamina - Indonesia, Stroitransgaz - Russian, Tatneft - Russian);
Tawke 1 (DNO AS - Norwegian).

Now all that oil and gas, katlaughing, is owned by the people of Iraq, the companies listed up there as field operators have got a licence to produce it. That licence can be taken away at the drop of a hat. Now as one who appears to believe that it was all done so that the big bad US could "steal" Iraq's oil can you explain how and why there are no major US oil companies listed there?