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Oil: Iraq does not seek to flood the markets produce it
Date: Thursday, 06.07.2012 6:30
Baghdad / Ahmed Mohammed al-Tamimi
said the Oil Ministry said Iraq does not seek to flood the world oil markets, domestic production of oil extracted, in spite of its plan to double its production in 2017, while some studies have questioned the possibility of access to these rates of production.
A spokesman for the Ministry of Oil, Assem Jihad, the "term" that "the ministry expects to increase production rates to 12 million barrels per day in 2017, but this does not mean that Iraq will produce this amount at the time." He denied that Iraq sought to "dumping oil produced from oil."
and "The Ministry will follow the international oil markets and produce according to requirements and the need of the market rates of oil and clear." He stressed that "Iraq will be an important player and a key scene in the world's oil." He attributed the Jihad of these increases in production to oil licensing rounds for international companies to develop oil fields producing and investment fields discovered.
He pointed out that "the increase in Iraq for oil production will be reflected on the economic situation and status of global political, and economic and human development in Iraq through increased revenue."
The The Ministry of Oil has developed a plan to get to the amount of production of more than three million and 400 thousand barrels per day at the end of 2012, and exports more than two million and 600 thousand barrels per day .. As this year has seen a surge in export rates so that the month of April, arrived in the export rates to high values exceeded two million and 500 thousand barrels per day and this has not been achieved since 1989. The oil expert, Dr. Hamza Jeweler's "long", "The Organization of Petroleum Exporting Countries" OPEC "will not agree easily to be Iraq's share of oil exports is very large, has agreed to raise its share slightly from what it is now, but raised largely a difficult issue too. " Has identified the Organization of Petroleum Exporting Countries (OPEC), Iraq's share of export three million and 800 thousand barrels per day, but it does not make only 2.5 million barrels per day at present, is how to determine export quotas by agreement between the Member States and WHO, which relies on some the criteria most important reserve of each state. He added: Jeweler, "The arrival of oil production to 12 million barrels a day is an extremely difficult issue, because of the big challenges in front of the development of oil fields, where some studies conducted by several international companies to be the best number that can is received Iraq's production is nine million barrels a day. " He said the "export of the oil ministry to six million barrels per day is the most realistic and the feasibility in terms of economic and political."
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