New projects are announced with investors of doubtful credibility Once upon a time in 2010, the then Iraqi Minister of Oil Hussain Shahristani — otherwise known as the “Teacher”, from recent exposes — was invited to the parliament to speak about the petroleum product shortages in the country. The refineries were not meeting domestic demand due to a 70 per cent utilisat
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The last time crude oil prices spent significant time below $30 a barrel Ben Affleck and Jennifer Lopez were still “Bennifer,” Howard Dean was leading the Democratic primary race and Saddam Hussein had just been captured by U.S. troops in Iraq. It was December 2003 and the world was awash in oil. The OPEC cartel had ramped up production just as global demand was slowing, and th
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Download PDFMy Corrected Edited initial oil market review revisited (2) The conclusion of my last Iraq oil market review was reflected by its heading that, ‘Politics cannot be ruled out, but market fundamentals remain in force.’ However, no doubt, views on the subject do differ and each is worthy of consideration. My aim here is not to dispute but to reflect further on this im
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Due to the importance of Southern Iraq’s oil field development contracts to the Iraqi economy and the country’s petroleum sector, it has become a political and media topic for speakers and politicians without trying seriously to understand the legal framework, the economic basis, and the oil professional essences of these contracts besides using incorrect and politicized inform
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Download PDF Tariq Shafiq- Researched Highlight of the Oil Matrket Generally speaking, oil prices go up when the global economy is robust, world demand is rising, suppliers are pumping at maximum levels, and little stored or surplus capacity is on hand. They tend to fall when, as now, the global economy is stagnant or slipping, energy demand is tepid, key suppliers fail to rei
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