Printer Friendly

IRAQ - Focusing On The Non-Oil Sector - Part 7 - Iraqi Petroleum Legislation.

Iraq's draft petroleum law is being debated in the House of Representatives (parliament). But formation of a national oil company (NOC) has been agreed upon. On the sidelines of an OPEC seminar held in Vienna on Sept. 12-13, Iraqi Oil Minister Hussain al-Shahristani said "90%" of the law had been agreed and expected ratification by end-2006. Iraqi officials and international oil companies (IOCs) say such a law is a prerequisite for foreign investment in war-torn Iraq's petroleum sector.

Shahristani said: "There will be an Iraqi national oil company that will be a holding company for the operating companies... There are a large number of companies [interested in Iraq's E&P] - some of them are regional". He touched on the flight of English-speaking Iraqi oil personnel over security concerns, saying: "Many of them have left the country, it is true. But we still have sufficient professionals there to be able to increase production every month".

The minister pegged output in Iraq's southern oilfields at 2.1m b/d, noting also an "ongoing daily battle" against saboteurs in maintaining supply from the Kirkuk fields in the north. "We're averaging now about three attacks every week, although normally we're able to [repair pipelines] in 24 hours", he said.
COPYRIGHT 2006 Input Solutions
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:APS Diplomat Operations in Oil Diplomacy
Date:Sep 25, 2006
Previous Article:IRAQ - Oil Output Restored.
Next Article:IRAQ - Towards A Petro-Democracy.

Related Articles
IRAQ - Part 1 - The Prospects.
IRAQ - Ahmad Al-Shamma.
SYRIA - Part 3 - Oil Exports Decline.
TURKEY - Part 3 - Oil Imports Are Limited By Price Deregulation.
IRAQ - Oil Output Restored.
Production sharing agreements--mortgaging Iraq's oil wealth.
IRAQ - Wrangling Over Petroleum Law.
IRAQ - Focusing On The Non-Oil Sector - Part 13 - Iraq's Petroleum Law.
IRAQ - The Draft Law.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters