Iraq denied a report Thursday by The Times of London that Iraq was preparing to halve its official crude production targets to between 6.5 million and 7 million barrels a day from the previously announced 12 million barrels a day in 2017.

"There isn't such a thing for the time being," said Abdul Mahdy al-Ameedi, head of the Iraqi Oil Ministry's Petroleum Contracts and Licensing Directorate. His office is responsible for scores of mega deals Iraq recently signed with international oil companies.

Ameedi also denied that his ministry was holding talks with international oil companies to negotiate their contracts on more attractive terms as The Times reported earlier Thursday.

"We are still hoping that we will reach our previously planned output targets," Ameedi told Dow Jones Newswires.

The paper, citing industry insiders, said Prime Minister Nouri al-Maliki has backed the country's oil ministry plan to set the new target, down from an original plan to produce 12 million barrels a day by 2017.

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