Iraq seeks investment but nixes reserves privatization

Iraqi Oil Minister Thamir al-Ghadban claims that his country can boost its oil production level from its current 2.1 million b/d to 6 million b/d, aided by Iraqi, Arab, and foreign investments. But he ruled out any privatization of the "extraction sector," saying it was out of the question at the moment."In past decades, Iraq was plagued with wars, sieges, and the misuse of its oil wealth," al-Ghadban said in the Arabic Asharq al-Awsat newspaper published on Feb. 15."We, the people concerned with oil affairs, have many dreams, which are well-studied plans based on rigorous scientific foundations. Now we hope to implement these plans, because the war era has passed," he said."Iraqi oil pol...

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