Energy News  
ENERGY TECH
Iraq will iron out oil industry troubles: Maliki

by Staff Writers
Washington (AFP) Dec 28, 2010
Iraq's Prime Minister Nouri al-Maliki pledged his government would address logistical and other woes plaguing international oil firms in his country, The Wall Street Journal reported Monday.

In his first interview since his cabinet was confirmed this month, Maliki acknowledged oil companies were facing delays to get needed equipment into Iraq due to airport backlogs and troubles at the main border entry points in the southern oil hub of Basra, the report said.

But it added the prime minister indicated he was getting personally involved to resolve the longstanding complaints, including with meetings planned for this week with senior security officials to address logistical hangups and to identify alternatives to get equipment into the country.

The premier said Baghdad would welcome not just foreign oil field development work but also international petroleum companies.

"We have no restrictions on their entry. We want them," Maliki told the Journal, referring to foreign oil companies and oil-services firms. "We need speed. We need money."

Iraq's oil output has risen to more than 2.6 million barrels a day, its highest level for two decades, according to Oil Minister Abdulkarim al-Luaybi. But while the country has some of the world's biggest oil deposits, it has struggled to fully exploit its riches due to prolonged periods of war, sanctions and crippled investment.

"We know that developing Iraq's economy and providing funds for finishing projects and providing jobs for people all depend on revenue from oil," Luaybi said in his speech at a ceremony to mark his official takeover of the ministry.

He vowed to meet the challenge.

Luaybi said the ministry would "reactivate the role of the exploration teams and geological surveys in order to strengthen national production," and also emphasized previously-announced plans to expand oil sector infrastructure.

These plans include "projects to expand oil and gas pipelines, and make good use of the gas that comes out with the extraction of oil," along with establishing new large refineries, he said.

Maliki told the Journal he expected Iraq's cash-flow problems to improve by September when one of four new floating oil-export terminals -- due to collectively more than double Iraq's export capacity -- becomes operational in Basra.

Work was also due to get underway soon on an agreement to build an oil pipeline from northern Iraq to the Syrian port city of Baniyas that is expected to be able to pump 2.6 million barrels a day when finished.

And Maliki, vowing to protect the country's oil sector and foreign investors from political interference, said a new raft of proposed amendments to Iraq's investment law would provide better protection for foreign investors and encourage interest in housing and other sectors.

He also dismissed as "mere opinion" a fatwa by anti-American cleric Moqtada al-Sadr prohibiting his followers from working for foreign oil firms.



Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
Powering The World in the 21st Century at Energy-Daily.com



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


ENERGY TECH
US oil prices fall on Chinese rate move
New York (AFP) Dec 27, 2010
US oil prices fell Monday, as Chinese moves to cool its economy offset fierce wintry conditions in the United States and Europe that had looked set to nudge prices upward. On the New York Mercantile Exchange a barrel of benchmark "light sweet crude" for February delivery was down 51 cents from Thursday at 91.00 dollars. The market was closed on Friday. China's decision to further hike in ... read more







ENERGY TECH
US Renewables Now Neck-And-Neck With Nuclear Power

Bolivia invests more in energy output

Oil mixed in Asian trade as China hikes interest rates

China's State Grid acquires Brazil power assets

ENERGY TECH
East Med gas bonanza has many perils

Synthetic dyes could increase energy

Iraq's oil output up but snarls continue

Pipeline begins supplying oil from Russia to China

ENERGY TECH
Keenan 2 Wind Farm Commences Commercial Operation

US challenges Chinese wind power subsidies at WTO

Italy wind farm seized by prosecutors

Outsmarting The Wind

ENERGY TECH
SunPower Completes Sale 44MW Montalto Di Castro Solar Park

Enhancements Increase Efficiency Of Kalahari Greentech's Solar System

U.K. solar plane record confirmed

Device creates fuel from sunlight

ENERGY TECH
EDF's role in US nuclear market is clouded

China announces nuclear fuel breakthrough

US helps Ukraine get rid of enriched uranium

Areva carries out capital increase

ENERGY TECH
New Miscanthus Hybrid Discovery In Japan Could Open Doors For Biofuel Industry

Team Overcomes Major Obstacles To Cellulosic Biofuel Production

Create Sustainable Rural Villages Through Clean Pig Farming And Renewable Green Energy

Industrial Biofuel Collaboration Heating Up

ENERGY TECH
China Builds Theme Park In Spaceport

Tiangong Space Station Plans Progessing

China-Made Satellite Keeps Remote Areas In Venezuela Connected

Optis Software To Optimize Chinese Satellite Design

ENERGY TECH
Researchers Train Software To Help Monitor Climate Change

Obama weathers backlash on climate

Potent GHG Emissions Could Be Three Times Estimated Levels

Japan postpones launch of emission trading system: reports


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement