Iraqi oil production will depend on political developments, oil minister says

02/14/2005
The production capacity of Iraqi oil in 2005 will primarily depend on political developments in the country after the Jan. 30 elections and the possibility of forming a harmonious government, according to Iraqi Oil Minister Thamir al-Ghadban.In an interview with the Arabic Al-Hayat newspaper, Ghadban added that the ministry's investment budget for 2005 totals around $3 billion, most of which will be dedicated to raising production capacity to 2.2 million b/d in the southern oil fields and to 700,000 b/d in the north.Al-Ghadban said the amount allocated for the Oil Ministry in the investment budget is additional to the amount allocated in the regular budget—about $2.4 billion&mda...
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