Download PDF Over eleven months have passed since the signing of the oil contracts between the Federal Ministry of Oil in Baghdad and the International oil companies (IOCs) resulting from the first and second bid rounds. However, to this date none of these contracts have been publicly released or published in any foreign language. Amazingly, all the contracts are written in En
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Download PDF On June 11, 2011, the Los Angeles Times reported that at least $6.6 billion out of the $12 billion of Iraq's money from the United Nations' oil-for-food program was very likely stolen, stating, "For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error. Stuart Bowen, special inspe
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Download This report examines Iraq’s current hydrocarbon contracts. It posits that they leave IOCs with too much control over the country’s producing fields, and suggests alternatives. Since 2009, the Iraqi federal Oil Ministry has signed 11 so-called Technical Service Contracts (TSCs) and Development and Production Service Contracts (DPSCs) with some of the world’s largest int
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For full text of the paper including end-of-paper tables and appendix, click PDF file. I. Introduction[i] The flaring of gas has been going on in Iraq for more than seventy years. In 2008, Iraq was classified as the fourth largest gas-flaring country (After Russia, Nigeria, and Iran), GGFR (2009). Furthermore, the utilization of produced gas has deteriorated from 30 percent dur
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For full text of the paper including end-of-paper tables and Appendix, click PDF file. Introduction After long years of waste, there is now an agreement/deal that could transform mostly zero-value natural gas into positive domestic benefits and export profits. It was signed in November 2011, between the Iraqi South Gas Company, SGC, and an alliance of subsidiaries of Shell and
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