The new deal between Iraq's central government and Turkey on the Ceyhan pipeline reportedly blocks the export of oil and gas from Kurdistan without Baghdad's approval. Both AKnews and Azzaman report that Turkey's Energy Minister, Taner Yildiz, has agreed not to transport Kurdish oil and gas unless Baghdad agrees. Speaking to AKnews, Ali Hussein Balo, […]
Tag Archives | Shahristani
The latest Iraq Oil Production News – Hussein al-Shahristani, Iraq oil production, oil fields, contracts and more – brought to you by Iraq Business News
The Iraqi Oil Minister renewed a contract with Turkey to transport crude oil through the Turkish port of Ceyhan for 15 years, at volumes of more than one million barrels per day (bpd). The deal is expected to strengthen economic relations between Baghdad and Ankara. AKnews reports that Oil Minister Hussain al-Shahristani said in Baghdad […]
Iraqi Oil Minister Hussain al-Shahristani sees no reason for OPEC to reconsider its current production levels at its next meeting, due to be held in Vienna on 14th October. According to report from Reuters, he sees no big demand for crude and says current production levels should be maintained, but OPEC should hold an extraordinary […]
We reported yesterday on the new gas deal between the Kurdistan Regional Government and the German giant RWE. Today, a new row has broken out between Erbil and Baghdad regarding the legality of Kurdish oil and gas contracts. Aswat al-Iraq reports that the Iraqi Oil Ministry, through the State Organization for Marketing Oil (SOMO), claimed […]
Iraq's oil minister, Hussain al-Shahristani, has said Baghdad will consider applying OPEC quotas once its crude oil production reaches at least 4 million barrels a day in two to three years, according to an Associated Press report. He says there is no rush to discuss quotas with other members of the Organization of the Petroleum […]
Iraq’s oil minister, Hussain al-Shahristani, has addressed some of the complaints by oil majors about bureaucracy hampering their efforts to bring staff and equipment into the country, according to a report from Reuters. Getting visas for oil industry professionals entering Iraq to work on oilfield development contracts ranks as a major hassle facing oil companies […]
Revenues from oil sales account for 95 percent of Iraq's income, Oil Minister Hussein al-Shahristani said on Tuesday, underlining the war-battered nation's reliance on crude to rebuild its economy. Shahristani said Iraq raised 171 billion dollars from sales between 2006-2009, which accounted for all but five percent of the government's income during those years. Shahristani […]
Iraq's oil minister said on Saturday he sees no impact from the massive oil spill at a BP well in the Gulf of Mexico on Iraq's current or future projects to develop its giant oilfields. BP has promised to pay damages to those hurt by the worst oil spill in U.S. history and has committed […]
Dinar Trade reports that The Minister of Electricity and agency, Dr. Hussain al-Shahristani, has announced the building of eight new power stations, with a total capacity of 5,000 MW. Readers of IBN will remember that Dr Shahristani, who is also the Minister for Oil, took over responsibility for the electricity brief following the riots last […]
(Source: Aswat Al Iraq) The Iraqi oil ministry seeks an increase in production to hit 12 million barrels per day (bpd) during the next six years, in addition to developing natural gas fields, according to the minister, Hussein al-Shahrestani. “This figure is the normal rate of Iraq’s production but for the policies pursued by the […]
'I think signing this many contracts, in so short a time, at the end of the government's term, leaves any future government stuck with long-term contracts that last for 25 years,' a former Iraqi oil minister said. 'There is a need to review these contracts.'
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.