The official document where Bush claims the oil of Iraq
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Executive Order 13303 states :

I, GEORGE W. BUSH, President of the United States of America, find that the threat of attachment
or other judicial process against the Development Fund for Iraq, Iraqi petroleum and petroleum
products, and interests therein, and proceeds, obligations, or any financial instruments of any
nature whatsoever arising from or related to the sale or marketing thereof, and interests therein,
obstructs the orderly reconstruction of Iraq, the restoration and maintenance of peace and security
in the country, and the development of political, administrative, and economic institutions in Iraq.
This situation constitutes an unusual and extraordinary threat to the national security and foreign
policy of the United States and I hereby declare a national emergency to deal with that threat.

I hereby order:

Section 1.
Unless licensed or otherwise authorized pursuant to this order, any attachment, judgment,
decree, lien, execution, garnishment, or other judicial process is prohibited, and shall be
deemed null and void, with respect to the following :

(a) the Development Fund for Iraq, and
(b) all Iraqi petroleum and petroleum products [...]
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This executive order is cleverly worded to make it seem as though all Iraqi oil revenues
are going into the Development Fund for Iraq.

But that's not what it says.

(a) and (b) are independent above.

If any oil company goes in to pump Iraqi oil, no organization can sue to have the revenues go to
a just cause.

This executive order says that oil companies may pump Iraqi oil without fear of lawsuits.