Wednesday, 13 August 2008

Oil negotiations rported stalled

Negotiations between Iraqi Oil Ministry and oil majors over Technical Support Agreements, TSAs, have been stalled and one of these has been terminated, the Wall Street Journal and Dow Jones Newswire reported.

Hassan Hafidh of the Dow Jones Newswire reports that negotiations with an Anadarko Petroleum Corp. -led consortium for a short-term oil service contract to develop a major oil field in southern Iraq, have been terminated by the Iraqi Oil Ministry.

While Gina Chon of the Wall Street Journal says negotiations are going through hard path and are not likely to go through.

Haffidh also reported that Iraq has hired the U.K.-based Gaffney, Cline & Associates Ltd. to provide consultancy for the Oil Ministry on the first round of tenders to develop eight oil and gas fields.

"The company provides consultancy on contract models, how to submit tenders, which company should bid for this or that oil or gas field, and other suggestions," a sourace told Dow Jones Newswires.

The sources for these stories are Iraqi oil industry sources close to the Oil Ministry ( a reference which is mainly used to refer to former Iraqi oil officials) and a U.S. diplomat in Baghdad and I don't know why Iraqi Oil Ministry keeps mum on these negotiations as long as it is doing something correct...

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