Sunday, May 27, 2007
Iraq accepts Iranian offer to build pipeline to Basra
Oil, Iran
(Azzaman) - Iraq has accepted an Iranian offer to build a pipeline connecting its terminals and refineries to the prolific Iraqi oil fields in Basra. Assem Jihad, Oil Ministry’s Information Officer said, the agreement was reached during a meeting between Oil Minister Hussain Shahristani and the Iranian ambassador in Baghdad.
Initially, the pipeline will carry 200,000 barrels of Iraqi crude to Iran. The countries will soon form a joint committee on how to implement the project, Jihad said. However, Jihad declined comment on financing and duration of execution but said Shahristani has invited Iranian firms to invest in Iraq and present their offers to build new refineries in the country.
The government has said it would extend Iranian firms preferential treatment because many of them are still operating in southern Iraq despite the flight of other foreign companies. Jihad also said Shahristani has recently met with an EU energy delegation to see whether Iraq can contribute to meet the union’s insatiable demand for gas and oil. He said the EU delegation expressed a desire to import Iraqi gas and particularly from the Kash field in the northern Province of Nineveh.
Initially, the pipeline will carry 200,000 barrels of Iraqi crude to Iran. The countries will soon form a joint committee on how to implement the project, Jihad said. However, Jihad declined comment on financing and duration of execution but said Shahristani has invited Iranian firms to invest in Iraq and present their offers to build new refineries in the country.
The government has said it would extend Iranian firms preferential treatment because many of them are still operating in southern Iraq despite the flight of other foreign companies. Jihad also said Shahristani has recently met with an EU energy delegation to see whether Iraq can contribute to meet the union’s insatiable demand for gas and oil. He said the EU delegation expressed a desire to import Iraqi gas and particularly from the Kash field in the northern Province of Nineveh.
Labels: Assem Jihad, Basra, Hussain al-Shahristani, Iran, oil pipeline
Wednesday, April 18, 2007
Draft oil law nears completion
Oil
Iraq's hotly debated draft oil law is to be sent to parliament "within the coming few days if everything goes well," the Oil Ministry spokesman said on Wednesday. "The draft is with the State Shura Council now to be put in a legal form after being written in technical language," Assem Jihad told The Associated Press in a phone interview. He gave no date for the bill's introduction. "We are expecting to take no more than two months to discuss it inside the parliament ... between one and two months it depends on the parliament," Jihad added.
The Iraqi oil legislation, which was endorsed by the cabinet last February, will open the door for the government to sign contracts for exploration and production of the country's vast untapped reserves. It was designed to create a fair distribution of oil profits to all Iraqis and it is perhaps the most important piece of legislation for Iraq's American patrons. Passage of the law, thought to have been written with heavy U.S. involvement, is one of four benchmarks the Bush administration has set for Prime Minister Nouri al-Maliki's struggling government.
The Iraqi oil legislation, which was endorsed by the cabinet last February, will open the door for the government to sign contracts for exploration and production of the country's vast untapped reserves. It was designed to create a fair distribution of oil profits to all Iraqis and it is perhaps the most important piece of legislation for Iraq's American patrons. Passage of the law, thought to have been written with heavy U.S. involvement, is one of four benchmarks the Bush administration has set for Prime Minister Nouri al-Maliki's struggling government.
Labels: Assem Jihad, draft oil law, Iraqi oil legislation
