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Expectations of making Iraq the biggest player in the global oil market
On: Tue 03/01/2012 7:47
□ Baghdad / follow-term economic
forecast economic researcher Hussein star to become Iraq's biggest player in the world oil market, particularly in the dialectic of prices during the next ten years. The star, according to the Agency (news): Iraq has undistributed oil strategically significant, and is expected to witness the discovery of new oil fields
And distinctive and high quality in the provinces of the country all, noting that the IMF report on the oil and gas in Iraq, was based on Mmsouhat and old data.
and called the star to a new survey and accurate addition to studies prepared by the Iraqi experts as well as studies of international companies in order to enable Iraq to explore the fields and oil wells, a new, more of the figures mentioned by the report of the Fund, the World Bank's oil and gas in Iraq.
He pointed star that Iraq will become the major powers in the field of oil and management of oil policy in the world and be effective the first oil prices globally, during the last ten years coming to Iraq is now owned by large strategic oil reserves, calling exploited well and accurately. He noted that the most prominent challenges facing the oil sector in Iraq, is the difficulty in technology transfer oil, as well as the political problems that hamper the work of oil companies operating in Iraq.
The IMF report on oil and gas have pointed out that Iraq possessed of oil amounted to (143) billion barrels of reserves have been identified (200) million barrels, etc. can be extracted and will lead the Iraq oil-producing countries can influence the global markets.
to the said Iraqi Oil Marketing Company (SOMO) for Statistics Iraqi oil production during 2011, noting The export earnings amounted to about $ 83 billion for the whole year.
The head of the Iraqi Oil Marketing Company (SOMO), Falah al-Amiri said that "export revenues amounted to about $ 83 billion for the whole year."
and the oil wells are usually vulnerable to armed activities, often lead to major damage, leading some of them to a halt in oil exports, while the back of the Directorate General of Oil Police, Interior Ministry's reasons for these operations to the small number of guards and the lack of the Directorate to the new technologies, as promised to the losses of such explosions equivalent to its annual budget.
The Ameri added that "the average Iraqi oil exports amounted to 2.165 million barrels day last year, while the average selling price 104.90 dollars a barrel. "
It is said that the Commission on Security and Defence revealed to "Twilight News" last October about plans for groups armed to target pipelines carrying Iraqi oil, pointing out that the system intelligence does not have the ability to provide information proactively to reduce the recurrence of security breaches.
as revealed Director General of Police to protect oil, Major General Abdullah Ibrahim, according to "Twilight News", about starting a plan for the protection of oil pipelines through the air, pointing to the existence of communications of an official with the concerned authorities for the supervision of his Directorate on all these the flights. Meanwhile, Brent crude settled above $ 107 a barrel as it shattered the rise of the dollar and rising U.S. crude inventories, the impact of Iran's threats to close a vital corridor for oil trading.
Brent rose 14 cents to 107.70 dollars a barrel, after tumbling nearly two dollars a day earlier. Brent and cut down last week's rally lasted six consecutive sessions. Light, sweet crude rose 23 cents to 99.59 dollars a barrel.
The euro fell to its lowest level in ten years against the yen and the lowest level in nearly a year against the dollar last Thursday, after he scored a surprise fall in the previous day, with his inflated because of poor liquidity at the end of the year.
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