Reserves Politics

Iraq’s newly announced proven oil reserves figure of 143.1 billion barrels is most likely closer to the reality than the old one of 115 billion bbls minus what has been produced since the last revision, which is put at 5 billion bbls. But the question is how did Iraq arrive at this magic number without new exploration or new discoveries and while 3-D seismic surveys for the southern oil fields…

KRG And The Oil & Gas Law

The draft oil and gas law has been with the Council of Representatives since 2007 and was followed later by the INOC draft law. There were several reasons behind the legislative stalemate, but the main one is the request of the Kurdish parliamentary block to postpone the debate on oil legislation until an accord is reached regarding the pending issues in the oil and gas law. The main pending issues…