Iraq's oil windfall

Though some are sceptical

    "Iraq Proven Oil Reserves Rise Significantly "  declares the Wall Street Journal, echoing a number of other news sources.

    But are they "proven"?

    So far, we have only assurances from the Iraq's oil minister Hussein al-Shahristani:

    These aren't random figures, rather they were the results of deep surveys carried out by the ministry's oil reservoir company and international companies which signed contracts with Iraq.

    But a few people are voicing scepticism, probably because we have seen this kind of sudden good news before.

    Higher proven reserves should eventually mean a higher production quota from Opec (Organisation of the Petroleum Exporting Countries), and theoretically more revenue. 


    YOU MIGHT ALSO LIKE

    Holding onto Hoxha: Guarding the last statue of communist Albania

    Holding onto Hoxha: Guarding the last statue of communist Albania

    In the basement of an old museum in a village in Albania, a 78-year-old woman protects the last remnant of a dictator.

    Still Here: A story of incarceration and gentrification in the US

    Still Here: A story of incarceration and gentrification in the US

    Many formerly imprisoned women of colour return to neighbourhoods transformed beyond recognition. What awaits them?

    The 'risky business' of tracking Rwandan fugitive Felicien Kabuga

    The 'risky business' of tracking Rwandan fugitive Felicien Kabuga

    The former chief prosecutor at the International Criminal Tribunal for Rwanda discusses the hunt for genocide suspects.