Should a national oil company play the role of a welfare state? In many countries around the region, national oil companies have done just that over the years. Saudi Aramco might be the prime example. From schools, to hospitals, to roads, Aramco’s footprints are all over the eastern province of Saudi Arabia. In Iraq, the absence of a national oil company since the dismantling of INOC in 1987 has pushed…
Iraqi Opposition Threatens to Annul Contracts
18 December 2002 Iraqi opposition exiles on Tuesday unveiled the results of a three-day confab in London, having agreed to set up a 65-member coordinating committee to follow up on principles and proposals agreed at the conference, and adopted in a main political statement and a document entitled the “transition period project.” The conference, attended by 350-plus delegates, focused on the roles of different groups and parties in a post-Saddam…
Post-Saddam Iraq Remains Mystery to Oil Companies in Waiting
23 October 2002 International oil companies interested in securing footing in a post-war Iraq have few clues on where to start. The Bush administration is forging ahead with war plans, but US State Dept. attempts to organize an energy working group for exiled Iraqi opposition members are in disarray as divisions among the opposition groups persist. “A number of oil companies have been querying about the possible political outcome of…
Iraq Aims to Hike Capacity by End-2003, Despite Sanctions
10 July 2002 Iraq is aiming to increase its sustainable oil production capacity to 3.5 million barrels per day by the end of 2003, without help from foreign oil companies and assuming that UN sanctions remain in force for the foreseeable future, Iraqi oil ministry sources say. Iraqi Oil Minister Amer Rashid recently put current sustainable production capacity at 3.2 million-3.3 million b/d, although other estimates are lower. Under a…