World's Energy

05.02.2008 [Neftegaz.RU] - British oil and gas giant BP holds talks with Iraqi oil ministers in order to reenter the one of the biggest oil markets in the world. BP said it was "possible" some of its executives might meet the Iraqi oil minister, Hussain al-Shahristani, today at a Royal Institute of International Affairs conference in London. A spokesman for BP, which will report annual profits of about $18bn, confirmed managers met Iraqi oil officials last week in Jordan and talked about providing technical assistance. Iraq has more than 115bn barrels of recoverable reserves, an attraction for oil groups at a time when easily recoverable reserves are becoming more difficult to secure.