IAMB: Iraq lags in oil metering

The U.N.-mandated watchdog over Iraq’s oil revenue says the government is too slow in putting in place a metering system that will allow transparency throughout the oil production and export value chain.

"Some progress has been made, including in commencing implementation of a code for fiscal and custody measurements for hydrocarbon fuels by the Ministry of Oil," the International Advisory and Monitoring Board (IAMB) said in a statement following the quarterly meeting earlier this month.