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FINANCIAL NEWS
Iraq to maintain oil production at 12m bpd
10 May 2011
(MENAFN) Iraq’s Deputy Prime Minister for Energy Hussain Al Shahristani said that the country would keep its oil production goal at 12 million barrel a day, reported The Peninsula.
Al Shahristani said that contracts with oil companies would not be re-negotiated nor the terms and targets would be lowered.
Shahristani gave these statements after rumors that Iraq would renegotiate contracts with international oil companies to reduce their individual output targets, as the country cannot keep its production capacity steady.
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