By John Lee. OPEC ministers have failed to agree on a new secretary general and have asked Abdalla el-Badri to stay in the post for another year. Four countries had been competing for the job -- Saudi Arabia, Iran, Iraq and Ecuador -- but Ecuador’s candidate, oil minister Wilson Pastor-Morris, announced last week that he […]
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OPEC Delays Talks on New Secretary General
Reuters reports that OPEC has delayed a meeting of officials to help select its new secretary general, putting off delicate talks that could reignite rivalry for influence as Saudi Arabia, Iran and Iraq seek the top post. A panel of officials was initially planned to convene at OPEC's Vienna headquarters during August, but the meeting […]
Iraqi Oil Targets Open to Negotiation
Iraq's oil production targets may be revisited, as the country refines its plans to ramp up output. Thamir Ghadhban, Chairman of the Advisory Commission to Prime Minister Nouri al-Maliki, told CWC's Iraq Petroleum 2012 conference in London that production will hit 3.4 million barrels per day (bpd) at the end of 2012, 3.9 million bpd […]
Future of Iraq's Oil Deals Uncertain
In Iraq’s fevered political climate, no deal makes everyone happy, and the oil contracts could easily become a casualty as Iyad Allawi, the declared winner in last month’s election, begins the messy process of stitching together a governing coalition.