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 Fixed oil prices behind companies' interests in Kurdistan: Iraqi deputy PM Shahristani

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Fixed oil prices behind companies' interests in Kurdistan: Iraqi deputy PM Shahristani  13.8.2012 







 
Iraq's Deputy Prime Minister for Energy Affairs Hussain al-Shahristani. Photo: Ekurd.net/AP See Related Links
Reasons behind oil companies' interests in Kurdistan

August 13,
2012


BAGHDAD,— Iraqi Deputy Premier for Energy Affairs Hussein al-Shahristani attributed the inclination of world oil companies to turn to Kurdistan region was due to the regions additional shares and the increase in oil prices, as prices in the Kurdish region are fixed in the contracts signed by the Central Oil Ministry, Aswat al-Iraq reported.

He pointed out that Exxon Mobil confirmed that it has no activity in the Kurdish region and it respects its deals with the Iraqi government.

During an Iftar banquet, the meal that breaks the fasting day, with some media personnel, Shahristani added that "the Iraqi negotiator was keen to give fixed prices, which made these contracts stricter to ensure the greatest profits to the Iraqi economy, unlike in the past where the greater profits are reserved for foreign companies."

He disclosed that the Kurdish region grants more shares for the companies in a manner that will make them partners in the produced oil and their profits will increase by lifting oil prices.

He pointed out that Exxon Mobil Director confirmed to him that "the company did not work in Kurdistan and will keep in touch with the central government if anything should happen there."

Shahristani stressed Iraqi strict position that any company will sign separate contract with the Kurdish region shall be illegal,www.ekurd.net without the permission of the central government.

On Sunday gave French energy giant Total an ultimatum to either end its dealings with the autonomous Kurdistan region in the north or to sell its stake in a giant southern oilfield.

Hussein al-Shahristani, also said Baghdad was considering offering foreign oil firms more lucrative contracts, as he admitted a recent auction of exploration blocks had not been as successful as officials had hoped. Total "was requested to withdraw from this field, and it has been given a certain period to end this case by selling its share to another company or by ending the contract with Kurdistan," Shahristani told AFP.

Iraq's Kurdistan region has delivered 116,000 barrels per day of crude (bpd) since it restarted oil pumping on Aug. 7, Shahristani said on Sunday, adding the amount was below the 175,000 bpd agreed.

Copyright ©, respective author or news agency, aswataliraq.info | Reuters | AFP | ekurd.net  

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