Iraqi oil and the world market

Article Abstract:

Iraq is believed to have the second biggest oil reserve in the world. However, a research conducted by the Center for Global Energy Studies revealed that Iraq has discoverable oil resources of 200 billion barrels that if added to its known reserves will equal that of Saudi Arabia. Iraq's selling of oil products have been limited by UN economic sanctions. If these trade embargoes are lifted, it is predicted that the world oil market will be destabilized due to the influx of oil products from Iraq, which are presumably to be sold at low prices.

Administration of General Economic Programs, Trade Regulations NEC, Trade Bans & Embargos, Forecasts and trends, International trade, Economic sanctions, Sanctions (International law), Petroleum reserves, Iraq, International trade regulation, Embargoes

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Saudi payments still delayed

Article Abstract:

Saudi Arabia's estimated $4 billion in unplanned oil revenue are observed to be in a stagnant state. The current oil production in Saudi is reported to be in the range of six million barrels a day at an average price of $17.50 a barrel. The companies that are bidding on new contracts are assuming payment delays from six months to a year and are factoring such delays into their bids.

Finance, Saudi Arabia, Business enterprises

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Kuwait: government increasing spending ... IOCs and Project Kuwait

Article Abstract:

Issues are presented concerning the 10% boost which has been announced by the Kuwaiti government for the fiscal year of 2001/02. The importance of investment by global oil companies in the Project Kuwait oilfields is discussed.

Economic aspects, Economic policy, Natural gas exploration, Oil and gas exploration, Petroleum exploration, Kuwait

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