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Iraq oil production could double in two years
On: Saturday 03/03/2012 19:55
Citizen - Follow-up
Said the International Energy Agency that Iraq is capable of doubling its oil production to more than one lesbian during the three years, but the pace of growth will slow sharply after that. And entered into Iraq, which has the fourth largest reserves in the world contracts with major oil companies to raise production levels, which currently amounts to about 2.9 million barrels per day to up to 12 million barrels per day by 2017, aspiring to compete with Russia and Saudi Arabia, the largest producers in the world. However, due to the difficulties faced by Iraq in the reconstruction of the crumbling infrastructure in the country and the daily violence and sabotage attacks, officials said that Iraq had reduced the target level to about eight million barrels a day. Chief economist at the International Energy Agency, Fatih Birol said he believed that Iraq could reach the level of 6.5 million barrels per day by 2015, but it may take up to 20 years to reach eight million barrels a day. and visit Birol Iraq today to meet with officials and experts in the oil sector by the report of the Chief of the Energy Agency, the State of Iraq is scheduled to be released in November 2012. Birol said that the current oil price, which last week reached its highest level in ten months the dollar, its highest level ever in euro and the pound sterling too high for consumers have a negative impact on China and the Asian giants India in particular.
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