Iraq won’t cut 12 million bpd oil production

Iraq does not intend to lower its 12 million barrel per day oil production capacity goal or to renegotiate contracts with oil companies over their plateau targets, Deputy Prime Minister for energy Hussain al-Shahristani said on Sunday.

Shahristani also told Reuters that the oil ministry had reached a final draft contract with Shell (RDSa.L) on a multibillion-dollar deal to capture flared gas at southern oilfields and had sent the draft to the cabinet for approval.
Souce: Reuters