Archive for the ‘2000’ Category
15 December 2000
A deal reached with India last month could set the ball rolling for a new type of arrangement between Baghdad and “friendly countries.” In return for the award of an exploration contract in the western desert, India could trade wheat and rice for Iraqi oil outside the UN oil-for-food program, Iraqi sources say.
New Delhi is now talking to the UN about applying for a sanctions waiver, to compensate for the damage the embargo has wrought on its economy, sources in Baghdad tell Energy Compass. Under Article …
11 February 2000
Iraq’s decade of non-participation in Opec may be coming to an end. The pariah state – which plans to produce 6 million barrels per day within 10 years of United Nations sanctions against it being lifted – has indicated that it intends to reassert itself as a fully functioning member of the organization.
Iraq’s approach is two-pronged. It wants an Iraqi official installed in high office in the group, and has suggested that it will be willing to submit to output-restraint disciplines. However, Iraq’s proposals carry the …
25 February 2000
Iraq has finally started negotiations on its first modified buyback agreements, offering contracts with an average term of 12-15 years to a number of Asian companies – including Malaysia’s Petronas, which is discussing a deal for the 200,000 b/d Ratawi field.
Iraq believes buyback contracts may prove easier to implement than production-sharing contracts (PSCs) once United Nations sanctions prohibiting investment are lifted. “We want something we can really implement and we think the old type of contracts [PSCs] are more complicated in the present circumstances,” says an …