Tag Archives | Sharristani

Iraq and US in Talks over ExxonMobil Dispute

Iraq is reported to be in talks with the United States about the exploration deals signed by ExxonMobil in Iraqi Kurdistan without Baghdad's approval, according to a report from Reuters. Deputy Prime Minister for Energy Affairs Hussain Al Shahristani (pictured) said that Iraq was considering several options, not sanctions, over the deal and there was […]

Consultants to Review Iraq Oil Targets

Reuters reports that iraq's oil ministry has asked consultants to draw up a plan with a lower output level and longer timeframe to achieve its oil output plans. Iraq's existing deals with international oil firms aim to boost its output capacity to 12 million bpd by 2017 from around 2.95 million bpd currently. But Iraq […]

How to Invest $200 billion over 6 Years

At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), said Iraq needed $200 billion (240 trillion Iraqi dinars) of investment in the energy sector over the next six years. This investment would be broken down as follows: $100bn to develop upstream oil […]

Shahristani Clarifies Iraq's Oil Production Target

At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), clarified Iraq's target of producing 12 million barrels per day of crude oil. The 12 million bpd was, he said, a capacity figure, and would not necessarily mean that this quantity of oil […]

Baghdad Considers Action Against ExxonMobil

Dr Hussain al-Sharistani, Iraq’s deputy prime minister responsible for energy, told reporters in London that Baghdad is considering its action against ExxonMobil for "breaching the law" by entering into an exploration agreement with the Kurdistan Regional Government (KRG): "ExxonMobil has written to the Iraqi Government about this, and they have received the response from the […]

PM Assigns Shahristani as Acting Electricity Minister

The Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has been nominated to the post of Acting Minister of Electricity, along with his current post, the semi-official Iraqiya TV Satellite Station reported on Wednesday. “Prime Minister, Nouri al-Maliki, has assigned his Deputy for Energy Afffairs, Hussein al-Shahristani, to hold the administration of the Minister of […]

Iraq May Not Use Full Oil Capacity

Iraq is planning to produce 12 million barrels of crude oil per day (bpd) by the year 2017, through contracts signed with the world’s largest oil and energy companies, Iraq’s Deputy Prime-Minister, in charge of Energy Affairs said on Saturday. According to Aswat al-Iraq, Hussein al-Shahristani said in a speech he delivered at the 3rd […]

Iraq Oil Revenues 34% Ahead of Budget

Iraq’s oil production has risen to 2.63 million barrels a day, up by 15 percent from the same period last year, according to Bloomberg. Crude exports averaged 2.18 million barrels a day in the first five months of 2011 and are expected to increase in the second half of the year, Hussain al-Shahristani, deputy prime […]

Construction of Karbala Refinery to Start This Year

Iraq hopes to complete negotiations with European investors to build a new oil refinery in the city of Karbala [Kerbala], the country's Deputy Prime Minister, Hussain al-Shahristani (pictured), said on Friday. The projected 140,000 barrel per day (bpd) Kerbala refinery is part of a plan to build four new refineries, adding around 750,000 bpd of […]

Iraq has 200b Barrels Oil Reserves - Shahristani

Iraq’s Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has said that Iraq has oil reserves of 200 billion barrels, according to Aswat al-Iraq. This would place Iraq in third place in the worldwide rankings of oil reserves. While the officially-announced oil reserves are 143 billion barrels, the report says that this does not include […]

Shahristani Says Oil Prices Reasonable

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 […]

Shahristani Denies Rumours of Reduced Oil Target

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 […]