Thursday, March 08, 2007
Chinese to negotiate resumption of $700 mn oil deal
Oil
(Brunei Times) A Chinese delegation has arrived in Iraq with a mission to resume a US$700 million oil deal signed during Saddam Hussein's time, state media reported. "It's true that Chinese officials will be in Baghdad to discuss the exploration of the Ahdab oil field," said an unnamed official with the Chinese Embassy to Iraq, according to the Shanghai-based Oriental Morning Post.
The official also said Iraqi President Jalal Talabani and other high-ranking officials would visit China, with the specific date yet to be decided. According to the Iraqi Oil Ministry, Oil Minister Hussein Al Shahristani met China's new ambassador Chen Xiaodong on Monday to discuss a planned visit by President Jalal Talabani and the oil minister to China this month. Iraq holds estimated oil reserves of up to 115 billion barrels, the third biggest in the world.
The official also said Iraqi President Jalal Talabani and other high-ranking officials would visit China, with the specific date yet to be decided. According to the Iraqi Oil Ministry, Oil Minister Hussein Al Shahristani met China's new ambassador Chen Xiaodong on Monday to discuss a planned visit by President Jalal Talabani and the oil minister to China this month. Iraq holds estimated oil reserves of up to 115 billion barrels, the third biggest in the world.
Labels: Ahdab oil field, China, Hussain al-Shahristani, Minister of Electricity, oil
Tuesday, March 06, 2007
Electricity supply to increase by the summer
Power generation
(Azzaman) The Minister of Electricity says Iraqis will see improvements in the supply of power in the summer. The pledge by Kareem Waheed is the latest in a series of broken promises to improve the country’s ailing national grid which has been worsening since the 2003 U.S. invasion. But Waheed said his ministry has signed contracts with both foreign and domestic firms to add more than 1,700 megawatts to the national grid.
He said he hoped that by the summer the national grid will have the capacity to produce about 6,000 megawatts. The volume, if achieved, will still fall short of the country’s needs now estimated at more than 12,000 megawatts. Currently supplies from the national grid are very erratic with the electricity off most of the day. Iraqis now rely on small generators which serve inhabitants of small districts in major towns. But even these generators are not working properly due to fuel shortages.
He said he hoped that by the summer the national grid will have the capacity to produce about 6,000 megawatts. The volume, if achieved, will still fall short of the country’s needs now estimated at more than 12,000 megawatts. Currently supplies from the national grid are very erratic with the electricity off most of the day. Iraqis now rely on small generators which serve inhabitants of small districts in major towns. But even these generators are not working properly due to fuel shortages.
Labels: electricity, Kareem Waheed, Minister of Electricity
