“Oil that’s being produced should be exported by SOMO [Iraq’s State Oil Marketing Organization],” Shahristani said in on-record remarks at the Chatham House. “Oil and gas in any part of Iraq - KRG or any other part of the country - is according to the constitution, the property of the Iraqi people.”
The British economy will import more oil and natural gas despite upbeat forecasts for the North Sea and shale's potential, the British energy minister said. British Energy Minister Michael Fallon spoke at Chatham House, a London think tank, on the future of the nation's energy sector.
'We feel the world needs to be assured of fuel for economic growth,' Hussain al-Shahristani, Deputy Prime Minister for Energy in Iraq told oil industry delegates attending a Chatham House Middle East energy conference.
'I welcome the tight oil of the United States,' said OPEC's secretary-general Abdalla el-Badri speaking at the Chatham House Middle East and North Africa Energy conference. 'Demand will grow and this will not affect OPEC in any way.'
OPEC will be able to handle the extra oil expected to come from Iran, Iraq and Libya, OPEC's secretary-general said at Chatham House, insisting the group would collectively head off any oversupply.
Speaking at Chatham House, UK Energy Minister Michael Fallon warned on Monday that uncertainty over the outcome of the referendum on Scottish independence was already hitting investment in the North Sea. 'There is a risk that investment we're trying to encourage will now be paused', he said.
'What they're asking for in return is for Assad to agree to step down, and of course he is not under any pressure to step down. It's already said that there will be no military intervention. It cannot really bluff. There's no threat coming to the regime. That is part of the difficulty,' said Nadim Shehadi.