Politics could hamper Iraq oil development: MEES

The development of Iraq’s massive oil and gas reserves could be hampered by its chaotic politics and lack of interest in proposed projects, an economic newsletter warned on Sunday.

“Politics — international, domestic, ethnic and party-based — has dominated every aspect of discussions of Iraq’s post-invasion oil development,” the Middle East Economic Survey (MEES) said in its weekly report.

“Given the size of the potential revenues at stake, this was probably inevitable. But in the end the oil development itself and by extension that of Iraq’s economy, will probably suffer because of politicisation.”
AFP