No 32



Oil Investment Without Budget Strain: The Iraqi Case

By 'Adnan al-Janabi

The following are highlights ofthe presentation made by Iraqi economist 'Adnan al-Janabi at a seminar on Iraqi oil held in Baghdad last month. Mr Janabi is a former official at the Ministry of Oil and served as head of the Economics Department in the OPEC Secretariat during the 1970s.

There are many ways of defining oil reserves. What is important, however, is the estimate of how much...