Archive for the ‘2007’ Category
23 March 2007
UK supermajor BP is staying away from Iraq’s northern Kurdish region, to avoid antagonizing the central government in Baghdad. However, despite the Iraqi government’s recent approval of a draft hydrocarbon law, BP will not venture into the country until there is a rule of law and it can be sure that contracts signed with the existing authorities would survive political change, a senior company executive said.
“Every country has changes of governments and Iraq will be no exception. What is important from our perspective is that there …
27 March 2007
The Iraqi government decided to renegotiate an old production sharing contract which had been signed by China National Petroleum Corp. (CNPC) to develop the 90,000 barrel per day Al-Ahdab oil field with the former Iraqi regime “for political and legal reasons” rather than retender, a senior Iraqi government official told International Oil Daily late last week.
CNPC officials traveled to Baghdad earlier this month for a first meeting with the Iraqi oil ministry on the fate of the production sharing agreement it signed in 1997 following the …
1 May 2007
A war of words between Iraqi Oil Minister Hussein al-Shahristani and Kurdish Energy Minister Ashti Hawrami over who has the authority to sign contracts with foreign companies, and over the extent of the proposed new Iraqi national oil company’s control over the country’s oil fields, is threatening to derail the draft oil law approved by the Iraqi cabinet in February.
Al-Shahristani last week warned foreign companies that they should not sign oil and gas deals with any authority other than his ministry until the new Iraqi oil …