iraq oil output over 3m bpd for first time in decades
Last Updated : GMT 17:02:39
Arab Today, arab today
Arab Today, arab today

Iraq oil output over 3m bpd for first time in decades

Arab Today, arab today

Arab Today, arab today Iraq oil output over 3m bpd for first time in decades

Baghdad - Arabstoday

Iraq\'s oil production has risen above 3 million barrels per day for the first time in more than three decades, it announced yesterday, and said it will sharply increase exports with a major new floating oil terminal beginning operations in three days. \"While I am talking to you today, the Iraqi oil production has exceeded 3 million barrels per day,\" Deputy Prime Minister Hussain Al Shahristani told a conference in Baghdad. \"Loading crude from the first floating oil terminal will start during the next three days.\" Nine years after the invasion that toppled dictator Saddam Hussain, Iraq has ambitious plans to expand oil production long held back by decades of sanctions and war. Oil executives involved in Iraq\'s oil development projects injected a note of caution. They see a gradual rise in Iraq\'s production, which ran just below 2.7 million bpd in 2011, to an average 3 million bpd this year. Al Shahristani\'s figures, if sustained, would signal a major increase in Iraqi output. Oil Minister Abdul Kareem Luaibi called it the highest figure since 1979. Iraq\'s production averaged just 2.68 million bpd last month, according to Opec. Average daily output has often been held back by a lack of export infrastructure to load oil onto ships. Iraq officially announced the opening of its new export outlet last month, but the Single Point Mooring (SPM) facility off the southern coast has yet to start operation, with officials blaming the delay on bad weather. The new facility would allow Iraq to increase its exports by 300,000 bpd. Iraq\'s exports were just 2.014 million bpd in February, Iraq\'s State Oil Marketing Organisation said, down from 2.106 million bpd in January, with officials blaming weather in the Gulf for stalling loading. An increase in Iraqi exports could help alleviate international markets wary of cuts in exports from neighbouring Iran due to US and European sanctions on Tehran. India and other buyers of Iranian oil have indicated they could switch to Iraqi supplies if they are available. Iraq aims to double its oil output over the next three years and has a long-term goal of 12 million bpd. Although that target may be out of reach, Iraq is still expected to be the world\'s biggest source of new oil supplies over the next few years. Luaibi told reporters at the conference that Iraq was examining offers by Britain\'s BP and Schlumberger NV to upgrade production at Kirkuk, one of Iraq\'s biggest and oldest oilfields. Exploration in northern Iraq has been held back in part by disputes between the central government and the autonomous Kurdish region over control of fields in Kurdish provinces. The central government says it alone has the right to export Iraqi oil, and adds that deals signed by foreign firms with the Kurdish regional authorities, such as one announced by ExxonMobil, are illegal. Luaibi repeated earlier remarks by Iraqi officials that an announcement on the Exxon deal would be made soon. Luaibi said Iraq\'s central authorities had received only 65,000 bpd of oil — less than half the 175,000 bpd they had expected — from the Kurdish region since the start of the year. The central authorities say they suspect that missing Kurdish oil is being illegally exported abroad. From guflnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iraq oil output over 3m bpd for first time in decades iraq oil output over 3m bpd for first time in decades

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iraq oil output over 3m bpd for first time in decades iraq oil output over 3m bpd for first time in decades

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday