BIG WAVE
07-23-2006, 07:51 PM
LONDON (Reuters) - Iraq has completed repairs to one of two sabotaged oil pipelines that export crude from its northern fields to Turkey and aims to restart the flow this week, Iraq's oil minister said on Sunday.
"We completed the repairs today," Oil Minister Hussain al-Shahristani told Reuters in London. "We hope to restart it very soon. This week."
Shahristani is trying to restore Iraq's dilapidated oil industry, the country's main source of the hard currency needed to rebuild its economy
The oil minister also said he was confident that a new hydrocarbon law that will allow foreign investment to flow into the industry will be passed by the end of the year.
"I can't say exactly when it will pass because it depends on parliament," he said. "But it will be this year."
Iraq needs to attract investment from international oil companies if it is to hit Shahristani's longer-term production targets of 4.3 million bpd within the next four years and between 6 million and 8 million bpd by 2015. The oil minister is accompanying Iraqi Prime Minister Nuri al-Maliki on a trip to London and Washington.
http://in.news.yahoo.com/060723/137/663yf.html
"We completed the repairs today," Oil Minister Hussain al-Shahristani told Reuters in London. "We hope to restart it very soon. This week."
Shahristani is trying to restore Iraq's dilapidated oil industry, the country's main source of the hard currency needed to rebuild its economy
The oil minister also said he was confident that a new hydrocarbon law that will allow foreign investment to flow into the industry will be passed by the end of the year.
"I can't say exactly when it will pass because it depends on parliament," he said. "But it will be this year."
Iraq needs to attract investment from international oil companies if it is to hit Shahristani's longer-term production targets of 4.3 million bpd within the next four years and between 6 million and 8 million bpd by 2015. The oil minister is accompanying Iraqi Prime Minister Nuri al-Maliki on a trip to London and Washington.
http://in.news.yahoo.com/060723/137/663yf.html