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To compensate oil price drop, Iraq will ramp up its production
21 Jan 2015
Oil Minister, Adel Abdul-Mahdi said that Iraq's oil production will reach 4 million barrels a day this year after the recent agreement with Kurdistan.
In a press statement, he mentioned, "This is a historic figure happens for the first time, indicating that Iraq has made great efforts and invested large sums of money to get to this number."
He added that Iraq's oil exports last month approached 3 million barrels per day, including the oil through the port of Ceyhan, "expected to see, in the second half or the last of this year, a surge in oil prices", expressing his belief that oil prices would not return to what they were during the past years."
He stressed that "to increase oil production volume will participate in compensate decline in oil prices, expected Iraq's exports at a rate of 3.3 million barrels."
It is noteworthy that world oil prices have seen a significant decrease is the first of its kind in five years, causing damage to many countries, including Iraq.
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21 Jan 2015
Oil Minister, Adel Abdul-Mahdi said that Iraq's oil production will reach 4 million barrels a day this year after the recent agreement with Kurdistan.
In a press statement, he mentioned, "This is a historic figure happens for the first time, indicating that Iraq has made great efforts and invested large sums of money to get to this number."
He added that Iraq's oil exports last month approached 3 million barrels per day, including the oil through the port of Ceyhan, "expected to see, in the second half or the last of this year, a surge in oil prices", expressing his belief that oil prices would not return to what they were during the past years."
He stressed that "to increase oil production volume will participate in compensate decline in oil prices, expected Iraq's exports at a rate of 3.3 million barrels."
It is noteworthy that world oil prices have seen a significant decrease is the first of its kind in five years, causing damage to many countries, including Iraq.
[You must be registered and logged in to see this link.]
