The latest Iraq Oil Production News – Hussein al-Shahristani, Iraq oil production, oil fields, contracts and more – brought to you by Iraq Business News
World oil prices are at reasonable levels and OPEC does not intend to reconsider its production targets at its meeting in June, Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani, said on Sunday. Reuters reports that Shahristani, speaking at the launch of a new power plant project in Iraq, said he had no concern about […]
Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani (pictured), said on Sunday that Iraq does not plan to lower its target for oil production of 12 million barrels per day or to re-negotiate contracts with oil firms over their plateau targets. "Absolutely not. There is no intention at all to renegotiate the contracts," Shahristani told […]
Iraq's proven oil reserves total around 173 billion barrels, Deputy Prime Minister Hussain al-Shahristani (pictured) said on Wednesday, according to a report from Dow Jones Newswires. Only 143 billion barrels of these reserves have been fully audited, he said. Another 30 billion barrels located in the Kurdish region of Iraq are considered proven but haven't […]
Iraqi residents are to receive their first 1,000 kilowatt-hours of electricity each month free of charge, the Ministry of Electricity said on Saturday, according to Reuters. The move follows protests over poor electricity supply and basic services. In the most recent demonstration, hundreds of people gathered in Baghdad on Friday to protest shoddy services and […]
According to a report from Reuters, Iraqi Prime Minister Nouri al-Maliki was misquoted as saying the central government in Baghdad would honour Kurdish production sharing oil contracts, The agency quotes Deputy Prime Minister with responsibility for Energy, Hussain al-Shahristani, as saying: "All the contracts we (the central government) have signed were service contracts and we […]
Iraq wants Brazilian state-run energy company Petrobras to help the country increase its refining capacity, Iraq's vice prime minister for energy policy, Hussain Al-Shahristani, told Brazilian business daily Valor Economico. "Companies from China, South Korea and Europe are interested, but we would also like to have Petrobras involved because of its importance." Dow Jones reports […]
Reuters, quoting 'senior officials', reports that Iraqi Prime Minister Nuri al-Maliki will unveil his new cabinet on Monday, retaining the oil minister who forged ambitious plans to turn the war-ravaged country into a top global oil producer. Oil Minister Hussain al-Shahristani, a Shi'ite and former nuclear scientist, will be a key member of the new […]
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq's Oil Minister said. "We are still negotiating the contract," Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
The dispute between Baghdad and the Kurdistan Regional Government (KRG) over the legitimacy of international oil contracts signed by the Kurds appears to be over. Baghdad’s dispute with Kurdistan froze oil exports from the region last year. Asked if the dispute between the two Iraqi powers had been resolved, Iraqi Oil Minister, Hussain al-Shahristani, told […]
A confidante of Prime Minister Nouri al-Maliki claims there will be a shake-up in the oil and energy portfolio when the new cabinet positions are announced. According to Iraq Oil Report, Hussain al-Shahristani will move from his current position as Minister for Oil and Acting Minister for Electricity, into a newly-created Deputy Prime Minister role […]
Iraq may earn $4.2 trillion in revenue from oil fields being developed by international companies after rights for production from the deposits were auctioned last year, Oil Minister Hussain al-Shahristani said. Reuters quotes the minister as saying that the fields, whose development rights were assigned after two bid rounds held last year, will produce 60 […]
Iraq has raised the level of the oil reserves it claims to own by 24% in its first revision since the change of regime in 2003. The country has 143.1bn barrels of known and extractible oil, up from the 115bn barrels previously estimated. If correct, the revision means that Iraq now has bigger oil reserves […]
