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

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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