This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Iraq-Shell Gas Deal Likely To Be Delayed

Also complicating the development plans is the absence of a national hydrocarbon law, which has been repeatedly delayed. The law is designed to regulate Iraq's natural resources investment. It has been stalled in parliament since 2007 because of disagreement about the level of control that the central and regional governments would have over resources.

Iraq has the world's third largest oil reserves after Saudi Arabia and Iran with at least 115 billion barrels of proven reserves. It also sits on at least 112 trillion cubic feet of natural gas reserves.

But due to decades of war, lack of investment and U.N. sanctions, the OPEC-member country produces only between 2.3 million and 2.4 million barrels a day. It exports just over 2 million barrels a day, under OPEC's production quota.

It plans to produce 4.5 million barrels a day by 2013 and up to 6 million barrels a day by 2015. It also aims to increase associated gas production to 5.1 billion cubic feet per day from the current 1.7 billion cubic feet over the same period. About 700 million cubic feet are being flared daily due to lack of sufficient infrastructure.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
RDA $18.45 3.71%
AAPL $109.75 0.16%
FB $92.78 2.00%
GOOG $626.91 0.00%
TSLA $247.93 3.40%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs