For full text of the paper including end-of-paper tables and appendix, click PDF file. I. The background[1] Since the commencement of the production of crude oil in the thirties and forties the oil wealth has transformed the oil countries gradually from low- to middle- and some to high-income countries. In the fifties, with the profit sharing agreements the major Arab oil produ
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Download the whole document as PDF file External debt Although various estimates and figures are being published and exchanged the stock of external debt is not precisely known. Moreover, as it had not been serviced since its inception the added capitalisation of accumulated interest is also problematic. Furthermore, much of the Gulf countries’ debt took the form of tran
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Not since Jahangir Amuzeger’s study Managing the Oil Wealth: OPEC Windfalls and Pitfalls (2001) has there been an authoritative study of OPEC. This time Dr. Chalabi’s study is from inside the organisation and for the first time we get an opportunity to see the truth about the workings of OPEC as he sets about chronicling its history. From its beginning in 1960, when Standard oi
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Another interesting reference on Iraqi Oil Reserves (besides the al-Mehaidi report I already mentioned) is Iraq Oil Development Policy Options: In Search Of Balance by Tariq Shafiq from December 2003 (ie about 9 months after the US invasion). According to the article, Tariq Shafiq is a petroleum engineer who was Vice President and Executive Director of the Iraq National Oil Co
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1. ABSTRACT Though the fact Iraq is preparing and issuing a federal annual budget, on yearly basis, since 2004. Besides, and to some extents, Iraq is also adopting few well acknowledged internationally advanced norms in the structure and preparation of the annual budget. Notwithstanding, the existing practice of preparing the budget, being recurrent and/or investment version
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