Energy sector weathers political crisis with minor delays
Amidst a political breakdown, DPM Shahristani is taking a larger role, and the fourth bidding round and the start-up of new export infrastructure have been set back.
A tugboat maneuvers near an oil tanker at the Al-Basra Oil Terminal. Iraq needs more export capacity, and the first stage of a new export facility is has just opened. (BEN LANDO/Iraq Oil Report)
Deputy Prime Minister for Energy Hussain al-Shahristani will lead the Ministry of Electricity amidst an ongoing political crisis, after Prime Minister Nouri al-Maliki put boycotting ministers on extended leave.
Iraq has also announced the delay of two key initiatives in the energy sector. Following requests from international oil companies (IOCs), the Oil Ministry will again postpone the upcoming fourth bidding round for oil and gas exploration blocks, and it has pushed back the launch of a new oil export outlet by about one month.
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