By Padraig O'Hannelly. Former Oil Minister Dr. Hussain Al-Shahristani (pictured) has responded to the recent reports of alleged corruption involving Unaoil. In an email to Expert Blogger Ahmed Mousa Jiyad, for publication on our Iraq Business News website, Dr Al-Shahristani says that he has "not known, met or communicated in any way with anybody from […]
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New Allegations of Massive Corruption in Iraq Oil Industy
By John Lee. An investigation by Fairfax Media -- publisher of The Age and The Sydney Morning Herald newspapers -- and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]
Tags: ABB, bribery, Cameron, Cameron/Natco, Clyde Pumps, Core Labs, Corruption, featured, FMC Technologies, Hyundai, Leighton, Luaibi, MAN Turbo, Monaco, Petrofac, Rolls-Royce, Rosetti Marino, Saipem, SBM Offshore, Shahristani, Shaw Group, South Oil Company (SOC), Unaoil, Weatherford, Weir Group
Interview with Hussein Shahrestani
By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many in Baghdad fear that Iraq is falling apart, given the complex situation that saw the oil-rich country divided into three parts: an autonomous Kurdish region, a Sunni de facto state, while the Shiites, […]
Tags: Shahristani
Northern Export Pipeline Still Closed
By John Lee. Iraq's northern Kirkuk-Ceyhan export pipeline has been inoperable since March due to sabotage, while attempts to repair it have been curtailed due to ongoing insurgent activity. Deputy prime minister for energy Hussein al-Shahristani (pictured) explained the urgency of the situation, noting that the area was secure enough to repair the pipeline, but […]
Turkish Energy Minister: We're Waiting to Export KRG Oil
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) has remarked at a press conference that the country is ready to export oil from storage tanks at Ceyhan, once they have reached their capacity of 2.5 million barrels. Baghdad is currently opposed to such a move, and minister Yildiz has expressed a desire for the […]
Tags: Iraq, Iraq-Turkey Pipeline (ITP), Kurdish regional government, Nechirvan Barzani, Shahristani, Taner Yildiz
Shahristani Welcomes Barzani's 'Good Will' Offer
By John Lee. Deputy Prime Minister for Energy Hussein al-Shahristani (pictured) has welcomed Nechirvan Barzani's offer of sending 100,000 bpd of oil through the State Oil Marketing Company. According to Aswat al-Iraq, Barzani's widely reported "good will" gesture was also welcomed by former oil minister Ibrahim Bahr al-Uloum who was positive about the offer. Until the […]
Excess Electricity in Iraq?
By John Lee. Iraq's Ministry of Electricity has announced that some power plants will be shut down due to a surplus of electricity generation, Azzaman reports. The plants will undergo maintenance before coming on line to meet summer demand. This may come as a surprise to some residents of major towns such as Baghdad or Basra, and […]
KRG Spokesman: Talks Useful, But No Agreement
By John Lee. Following remarks by Deputy Prime Minister for Energy Hussein al-Shahristani (pictured) that Kurdish Regional Government oil exports will go through the State Oil Marketing Company (SOMO) officials from the KRG have moved to clarify that this is not in fact the case. KRG spokesman Safeen Dizayee remarked to reporters that while discussions […]
Tags: Baghdad, Erbil News, Iraq Oil Exports News, Iraq-Turkey Pipeline (ITP), Kurdish Government, Shahristani
Erbil and Baghdad: One Step Forward?
By John Lee. Just as some observers were saying the dispute looked intractable, Deputy Prime Minister for Energy Hussein al-Shahristani has announced a potentially big breakthrough in the ongoing saga of deal and no deal between Baghdad and the Kurdish Regional Government over oil exports to Turkey and oil revenues. Reuters has reported that after intensive […]
Big Oil to spend $25bn in Iraq Next Year
By John Lee. Iraq's deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that 'Big Oil' is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]
Shahristani Updates on Oil Targets
By John Lee. Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), has said the company is on track to pump 3.7 million barrels a day of crude by the end of the year. He told a conference in Dubai: "Iraq will easily pass 3.5 million barrels a day before the end of the year […]
Video: Iraq to Lower Oil Targets
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's top energy official tells AFP his country is re-negotiating all of the oilfield contracts agreed in 2009 to lower the peak production target and spread output over a longer period of time: