Iraq 'set for oil price windfall'
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Increasing production and higher oil prices mean Iraq could see an influx of extra reconstruction money, a report says.
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By Malcolm Moore, Economics Correspondent (Filed: 21/08/2004). The price of oil came close to $50 a barrel in New York yesterday, as fighting between US forces and Moqtada al-Sadr&#39;s militia in Iraq continued to inflame the market.
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An African-based investment analyst says further rises in global oil prices are likely, given the growing possibility of civil war in the world&#39;s sixth-largest oil producer, Nigeria.
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With $50-a-barrel in sight, oil traders were glued Friday to developments in Iraq, where tensions between US forces and rebel fighters appeared to ease, raising hopes that attacks against the country&#39;s oil infrastructure would subside.
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U.S. oil prices rose today as Iraq's oil exports continued at more than 30 percent below normal after sabotage attacks on pipelines.
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By Malcolm Moore, Economics Correspondent (Filed: 27/08/2004). The price of oil continued to fall yesterday but a fresh attack on Iraqi pipelines kept it above $40 a barrel.
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CALGARY, Alberta  - Iraq's oil ministry has called  for new bids to develop an oil field in the war-torn country, a  major setback for the Canadian company that appeared to have  won the contract, a top executive with the firm said on Friday.
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The Prime Minister Lawrence Gonzi stated that oil prices might influence his decision making for the Budget 2005.
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Oil prices surged to a new high of $47 a  barrel on Wednesday on evidence from major economies that  energy costs are not substantially slowing the economic growth  that fuels oil demand. Fresh threats by rebel militia in Iraq  against oil facilities helped underpin price gains.
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The price of oil looks set to grab headlines as analysts forecast that its record-breaking run may well continue.
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World oil prices fell again on Tuesday as Iraq restored oil exports and hedge funds continued the rush to take profits from record highs.
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The price oil charged to a new high above $47 a barrel Wednesday amid nagging concerns about instability in Iraq, the uncertain fate of Russian petroleum giant Yukos and the world&#39;s limited supply cushion.
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BAGHDAD, Feb. 26 -- Iraq's cabinet approved draft legislation Monday that would enable the government to manage the country's vast oil resources and distribute revenue throughout the country, a step toward meeting a U.S. demand that the country's parliament pass such a law.
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World oil prices fell again on Tuesday  as Iraq restored oil exports and hedge funds continued the rush  to take profits from record highs.
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Iraq made more than $21bn from corrupt oil and other deals, a US Senate panel hears - more than twice as much as previously thought.
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Oil prices surged above $47 a barrel on  Wednesday on evidence that energy costs are not substantially  slowing the economic growth that fuels oil demand and new  reports of  rebel militia attacking Iraqi oil facilities.
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TOKYO Iraqi leaders hope some much-needed reconstruction money will be freed up now that a two-day meeting of donor nations has finished in Tokyo.