18 July 2008 Feeling buoyant about beating back Al-Qaeda in Iraq and reining in Iraqi militias in southern Iraq and Baghdad, Iraqi Prime Minister Nouri al-Maliki is now taking the initiative on the economic and diplomatic fronts. He wants to spur the much-delayed reconstruction efforts, including those in the oil sector, by moving the decision-making process from bureaucratic ministries to a new council with powers to award contracts. He also…
Tag: Basrah
Iraq Courts Four Majors for Technical Deals
6 December 2007 Four majors met with Iraqi oil ministry officials in Amman last week to initiate talks on the first commercial technical support contracts to be awarded since the US-led invasion over four years ago, Iraqi and industry sources told International Oil Daily Wednesday. The ministry is aiming to raise output by 500,000 barrels per day over the next two years. The talks with BP, Chevron, Exxon Mobil and…
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…
Iraq: Splits Dog Oil Law
9 March 2007 Having waited so long for a law offering the framework necessary to regularize and legitimize future investments in Iraq’s vast oil resources, international firms itching to get their hands on the biggest Mideast opportunity in decades now find consensus — perhaps the most important ingredient of all — lacking. Iraqis are divided over the legitimacy of signing contracts while the country is wracked by chaos, and some…