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Azzaman, December 30, 2011
Iraq’s southern city of Basra is to emerge as the world’s largest oil center once current plans to boost the country’s oil output are completed, the Oil Ministry says.
“Basra produces the largest portion of (Iraq’s) oil because it has the largest fields,” said the ministry’s spokesperson Asem al-Jihad. “Concessions and service deals to develop southern oil fields … will certainly positively reflect on the Province turning Basra into (the world’s) largest city.”
Jihad said in a few years Basra would churn out 6-8 million barrels a day, a figure unmatched by any one city in the world.
“Basra has all the ingredients needed to develop its oil and gas riches,” he said. “This is a city that floats on a lake of oil, possesses efficient (oil) infrastructure and an extensive pipeline network.”
Basra currently produces more than 2 million barrels of oil a day, with nearly 1.8 million barrels a day earmarked for exports out of total Iraqi daily exports of about 2.1 million.
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Iraq’s southern city of Basra is to emerge as the world’s largest oil center once current plans to boost the country’s oil output are completed, the Oil Ministry says.
“Basra produces the largest portion of (Iraq’s) oil because it has the largest fields,” said the ministry’s spokesperson Asem al-Jihad. “Concessions and service deals to develop southern oil fields … will certainly positively reflect on the Province turning Basra into (the world’s) largest city.”
Jihad said in a few years Basra would churn out 6-8 million barrels a day, a figure unmatched by any one city in the world.
“Basra has all the ingredients needed to develop its oil and gas riches,” he said. “This is a city that floats on a lake of oil, possesses efficient (oil) infrastructure and an extensive pipeline network.”
Basra currently produces more than 2 million barrels of oil a day, with nearly 1.8 million barrels a day earmarked for exports out of total Iraqi daily exports of about 2.1 million.
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