Oil Chaos

2 March 2007 Iraq’s draft petroleum law, approved by the cabinet this week, claims to be fair, clear, transparent and efficient. It’s anything but. The bill, which has to be approved by parliament before coming into force, emerged after a series of compromises — and US pressure — aimed at overcoming Kurdish opposition to any form of centralized power. The result is to enhance the country’s division along ethnic lines…

Legal Pros and Cons

30 March 2007 Iraqi oil veterans have made no bones about their unhappiness with the petroleum law approved by the cabinet in February. Not only do they criticize the speed at which it could open the upstream doors to major oil companies and the extent of Big Oil’s potential involvement, they say it’s wrong to be deciding the fate of the industry at a time when the state is struggling…

Iraqi Minister Begins Oil Sector Turnaround

9 August 2006 More than two months after taking over Iraq’s embattled oil sector and pledging to fight corruption, Iraqi Oil Minister Hussein al-Shahristani is taking timid steps to put the ministry back on track. Al-Shahristani’s first move has been to oust directors-general who were appointed on political merit or as a result of pressure from influential politicians. The purge involves about six employees who were brought in as directors…

Iraq Seeks New Refineries, Export Pipes

12 September 2006 Iraq is embarking on new projects to add refining capacity and build new pipelines, in a bid to meet domestic fuel needs, insure stable exports from northern oil fields, and raise overall export capacity to 3 million barrels per day within the next five years, according to Iraqi Oil Minister Hussein al-Shahristani. Baghdad has revived refinery upgrade plans that were tendered in several packages over the past…