Iraq does not plan for a third oil round

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From Angola Iraq has no plans for a third oil auction, Oil Minister Hussain al-Shahristani said on Sunday pointing that a price of around $70 was reasonable even for producers with high production costs. Ahead of OPEC meeting in the Angolan Capital Luanda, Shahristani said that OPEC crude producers' cartel was not likely to discuss setting production quotas before 2011. Iraqi Oil Minister Hussein al-Shahristani told reporters on Sunday he did not expect to tackle the question of production allowances for Iraq, but stressed its special situation as a country recovering from war. "Countries' needs for reconstruction should be one of the top criteria in addition to countries' capacities of production," Shahristani added. "In the case of Iraq we have been deprived of the fair share of the world market and this should be taken into account", Iraq Oil Minister said.

Alsumaria TV An independent Iraqi Satellite TV Network that transmits on Nilesat and Hotbird from its temporary offices in Lebanon . Alsumaria was established by a group of professional businessmen in 2004. It includes a solid staff of 300 employees in Iraq and 150 in Lebanon . In a span of two years, Alsumaria has managed to become one of the most dynamic and watched TV stations in Iraq .

This is originally posted at http:// http://www.alsumaria.tv/en/Iraq-News/1-42091-Iraq-does-not-plan-for-a-third-oil-round.html and Alsumaria TV is responsible for the content.

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