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  • Iraq envoy: Reconstruction to ease global oil crunch

     

    By Estrella Torres

    Reporter

     

    THE government of Iraq said on Tuesday reconstruction efforts in the war-stricken nation are expected to help ease the global crunch of skyrocketing oil prices, adding it has yet to tap some 10 billion barrels of oil reserves.

    Iraqi Ambassador to Manila Falih Al-Assadi, who reestablished the diplomatic mission in the country nine months ago, said his government is allocating a total of $82 billion for the rebuilding and reconstruction that started last year.

    Meanwhile, the Iraqi government has requested President Arroyo, in a letter sent three months ago, to lift the travel and employment ban to Iraq to allow Filipinos to get employment there.

    Jesus Yabes, foreign affairs assistant secretary for Middle East and African affairs, said one primary condition for the lifting of the travel and employment ban to Iraq is “peace and stability.”

    “It is my fervent wish that Iraq would be able to achieve complete stability in the most immediate time possible,” Yabes said during the Iraq symposium held Tuesday at the Heritage Hotel in Pasay City.

    At the same time, Al-Assadi said reconstruction efforts will be “smooth and faster” if the American-led forces in Iraq, now at 135,000, will leave their country.

    Asked whether Iraq will charge the Bush administration before the International Criminal Court in The Hague for war crimes and crimes against humanity, the Iraqi diplomat said: “We will wait for the US forces to leave the country first. We have to address immediate issues first like the return of some 500 tons of uranium that were transferred to Canada and the number of Iraqis who [died] from American actions.”

    He said the Iraqi government will need a total of 20 million more workers to help rebuild the war-torn country.

    He said the first 10 million workers would be sourced from nearby Middle East countries, while the second batch of 10 million will be open to foreign workers like the Filipinos.

    Ten countries in the Middle East are now planning, he added, to reestablish their diplomatic missions in Iraq, with Bahrain as the first to name its new ambassador.

    Al-Assadi said the Americans had discovered during the invasion that Iraq has larger oil reserves than Saudi Arabia, currently the leading oil exporter.

    “Iraq has an estimated 10 billion [barrels of] untapped oil reserves and we can help increase the global oil production once we are able to stabilize our nation,” said Al-Assadi in an interview at the sidelines of the symposium.

    He stressed that as part of the rebuilding, Iraq intends to increase production of its oil and gas sector for export.

    This effort includes increasing the rate of crude oil production by around 2,720 barrels a day.

    “We also intend to increase opportunities for investment in gas production by 1,425 million cubic feet daily.”

    In his speech, Al-Assadi said Iraq is now regaining its position in the key international bodies, such as the United Nations, the Arab League and the Organization of the Islamic Conference.

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