Plus:
*Doubts linger in Big Oil’s mind over signing time for new deals
*Top energy adviser to Maliki assures the terms are good enough
*Iraq cuts Basra crude price to European buyers
*KBR finishes Persian Gulf platform work
*Much more…
Basra is the key to Iraq — a major city and source of oil, plus where most of trade in and out of the country flows. It’s ports need major work to be modernized as strong storms keep out oil tankers, for example (though the ministry of transportation could allow for larger tug boats to pull in the oil barges). The city is controlled by varying gangs, militias and political parties, not all mutually exclusive. Any party that condemns corruption in Basra is a part of it nonetheless, aiming for a bigger piece of the pie, especially as there is much money to be made from oil and fuel smuggling and, come April, Basra is allowed to become a region of its own, just like Iraqi Kurdistan.
Several senior Iraqi officials said on Wednesday that the government might soon deploy Iraqi Army troops to seize control of this city’s decrepit but vital port from politically connected militias known more for corruption and inciting terrorism than for their skill in moving freight, James Glanz reports for The New York Times.The officials refused to disclose many details but appeared to suggest that this entire southern port city, whose streets have been increasingly torn by violence as the militias vie for power, would be affected. No specific timetable was given for the move.
Iraqi officials say much work is needed to secure and restore the port of Umm Qasr in the oil-rich province of Basra. They charge criminals and corrupt officials have been working together to siphon off wealth while terrorists are sabotaging reconstruction, Daniel Schearf reports for Voice of America.
Iraq is unlikely to sign technical support contracts with oil majors for work on some of its biggest oilfields until the summer, a few months later than Baghdad’s target, oil company executives said on Thursday, Simon Webb reports for Reuters. The deals are designed to boost Iraq’s oil output by around 500,000 barrels per day within a year, adding more than 20 percent to current production of 2.27 million bpd.
Meanwhile Thamir Ghadhban, the top energy adviser to Prime Minister Nouri al-Maliki, says the support contracts are good enough to hook the world’s largest oil firms, Monica Mark reports for Dow Jones Newswires.
For more see United Press International’s Ben Lando’s recent recap of the oil deals.
Iraq has cut the official selling price of its Basra Light crude for April loading by $2.20 a barrel to European buyers and raised prices for the US, Simon Webb reports for Reuters.
KBR today announced that it has successfully completed construction on facilities for the Coalition Forces on the Iraqi Oil Transfer Platforms in the Persian Gulf, according to a company statement.
The United States and Iraq have opened negotiations on a blueprint for relations after the U.N. mandate for the presence of American-led troops in Iraq expires at the end of the year, Alexandra Zavis and Julian E. Barnes report for the Los Angeles Times.The two sides confirmed that their representatives met at Iraq’s Foreign Ministry, but did not provide details about who was present or what was discussed.
Only 28% of the public knows that nearly 4,000 Americans have died in the Iraq war, and attention to the conflict has gradually diminished, a survey by the nonpartisan Pew Research Center found, The Associated Press Reports.
What’s over $100 billion a year in Iraq war costs to a $14 trillion U.S. economy? Not much now, but the tab is growing on a “buy-now-pay-later” plan that threatens long-term problems, Richard Cowan reports for Reuters. Money was not much of an issue five years ago when President George W. Bush led the country into war in Iraq. Instead, all eyes were on allegations, later proven unfounded, that then-Iraqi President Saddam Hussein had weapons of mass destruction and could use them against the United States.
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