Oil firms wary as Iraq oil revival remains uncertain
The fall of Saddam Hussein raises hopes for access to Iraq’s vast reserves but political, legal, and economic uncertainties cloud postwar oil deals. Experts doubt quick contracts, noting production could stabilize near 2.5 million barrels per day after infrastructure repairs, with eventual privatization and large investments required to reach 6 million bpd potential.
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Exxon Mobil
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Cambridge Energy Research Associates
Issam Al-Chalabi
UN official opposes abrupt end to oil-for-food program
Washington officials debate extending the oil-for-food program as the Iraq war ends. Benon Sevan warns against rushing sanctions removal, stressing the program remains essential for Iraqi food and medicine with the current phase expiring June 3. France and Russia resist lifting sanctions until weapons concerns are resolved.
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