Home
Iraq may withdraw from OPEC quotas granted unless appropriate to the size of its reserves
On: Sun 12/18/2011 19:43
Citizen - the follow-up
After more than twenty years to rid Iraq of the system of production quotas applied by the Organization of Petroleum Exporting Countries (OPEC) members, the organization announced recently that it will bring Iraq into the system again when the volume of production threshold of three million barrels a day.
Ministry spokesman Assem Jihad, the Iraqi Oil pointed out that Iraq continues to export outside the quota system at the moment, but it will start negotiations with OPEC when it reaches its production to four million barrels per day, not three million. Jihad said in a statement to Radio Free Iraq that even in case of agreement with OPEC to enter the quota system, the share of Iraq must be commensurate with its reserves and large volume of exports available, pointing out that OPEC must take into account that Iraq has been deprived for a long time to export its oil, when considering reinstatement. back to the system of export quotas.
The share of Iraq under the regime of OPEC before the imposition of international sanctions on Iraq in 1990, three million and (800) thousand barrels a day, but the Iraqi oil expert jeweler says Hamza return Iraq to the level of export is a great prejudice against him.
Jeweler and confirms that Iraq withdraw from OPEC in the absence of the quota granted that are commensurate with the size of oil reserves and production, which is a great loss to the organization in his opinion.
[You must be registered and logged in to see this link.]
On: Sun 12/18/2011 19:43
Citizen - the follow-up
After more than twenty years to rid Iraq of the system of production quotas applied by the Organization of Petroleum Exporting Countries (OPEC) members, the organization announced recently that it will bring Iraq into the system again when the volume of production threshold of three million barrels a day.
Ministry spokesman Assem Jihad, the Iraqi Oil pointed out that Iraq continues to export outside the quota system at the moment, but it will start negotiations with OPEC when it reaches its production to four million barrels per day, not three million. Jihad said in a statement to Radio Free Iraq that even in case of agreement with OPEC to enter the quota system, the share of Iraq must be commensurate with its reserves and large volume of exports available, pointing out that OPEC must take into account that Iraq has been deprived for a long time to export its oil, when considering reinstatement. back to the system of export quotas.
The share of Iraq under the regime of OPEC before the imposition of international sanctions on Iraq in 1990, three million and (800) thousand barrels a day, but the Iraqi oil expert jeweler says Hamza return Iraq to the level of export is a great prejudice against him.
Jeweler and confirms that Iraq withdraw from OPEC in the absence of the quota granted that are commensurate with the size of oil reserves and production, which is a great loss to the organization in his opinion.
[You must be registered and logged in to see this link.]
