Fixed oil prices behind companies'
interests in Kurdistan: Iraqi deputy PM Shahristani
Reasons behind oil
companies' interests in Kurdistan
Iraq's Deputy Prime Minister for Energy Affairs
Hussain al-Shahristani. Photo: Ekurd.net/AP
See Related Links
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
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
Copyright ©, respective
author or news agency,
aswataliraq.info | Reuters | AFP |
does not take credit for and is not responsible for the
content of news information on this page