19/09/2012 02:03:00 By ADNAN HUSSEIN

BAGHDAD, Iraq -- The Kurds and the government of Iraqi Prime Minister Nuri al-Maliki have been at odds over the details of the oil and gas law for years.

But now there are new hopes that the conflicting factions might be close to an agreement that would result in a carbohydrate law.

A recent non-finalized deal between the Kurdish and Iraqi governments, along with a meeting between Maliki and parliament speaker Osama Nujaifi over the oil law, have rekindled hopes that a resolution might be in sight.

The deal between the Kurdistan Regional Government (KRG) and the Iraqi government includes a provision that Baghdad will pay around $2 billion to foreign oil firms operating in Kurdistan as the cost of their operations.

The agreement also entails that the Iraqi government, in cooperation with regional and provincial governments in Iraq, will devise the oil policy for the country.

In a recent session of Iraqi Parliament, Nujaifi called on all stakeholders to put aside their differences and agree on the law, otherwise it will “create crisis between the factions and negatively reflect on the country’s economy.”