It’s unique, it’s challenging and it’s complex, but Iraq’s oil ministry seems determined to make the first upstream-downstream integrated project in Nassiriya a reality. What’s more, forget the $ per barrel fee that was the basis of all previous service contracts. On this one, investors will make a return on their investment from a percentage of the revenues Iraq will rake, pretty much like the “profit oil” concept in production-sharing…
Tag: gasoline
Iraq, Iran Oil Deal Raises Suspicions
15 August 2006 Iraq and Iran signed a memorandum of understanding (MOU) on Sunday to swap Iraqi Basrah oil for refined products, the second such deal since July 2005. The two Mideast nations also agreed over the weekend to jointly develop shared oil fields, an issue that is expected to raise suspicion by critics of an Iran-Iraq alliance. With Iraq in the midst of its worst fuel crisis since 2003,…
Iraq Seeks New Refineries, Export Pipes
12 September 2006 Iraq is embarking on new projects to add refining capacity and build new pipelines, in a bid to meet domestic fuel needs, insure stable exports from northern oil fields, and raise overall export capacity to 3 million barrels per day within the next five years, according to Iraqi Oil Minister Hussein al-Shahristani. Baghdad has revived refinery upgrade plans that were tendered in several packages over the past…
Iraqis Assess Scale of Damage From War, Looting
Iraqis Assess Scale of Damage From War, Looting
(Published in: International Oil Daily – Tuesday, April 22, 2003)