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The future looks scintillating in front of Iraqi oil exports
Date: Saturday 10/06/2012 08:38 am
Baghdad / Qais chopsticks
revealed chief advisers to the prime minister Thamer Ghadban said Iraq exploits 22 oil fields out of 78 fields. said Ghadhban told Gulf newspaper that investing in energy represents 44% of the investment projects for Iraq, estimated rate of 21% of the state budget
Which is the largest in the history of Iraq, is expected to reach Iraq's oil production 4 .3 million barrels per day and exports 9 .2 million barrels per day on average by next year. He angered the sidelines of a conference and exhibition projects Iraq major Dubai that the establishment of this exhibition comes to take advantage of the UAE, which is the regional hub for major international companies operating in the oil and gas sector, where it is expected to reach bilateral projects with these companies and their representatives through our presence in Dubai, pointing that Iraq operate 16 international companies and many of the fields untapped require more of these companies, pointing out that there are 78 oil fields located state exploiter of them only 22 field. predicted Ghadhban to rise in oil production of Iraq from 2.3 million barrels day to 8 million barrels per day, till 2017, noting that the oil sector will feed the state budget, including an estimated $ 115 billion after oil projects new to the work, pointing out that Iraq has ambitious plans to boost production capacity with the assistance of foreign companies to reach 12 million barrels per day by 2017 but it seemed that this goal is unrealistic because of infrastructure bottlenecks and weak potential logistics. expected to target Iraq between eight million barrels per day and 5.8 million barrels per day, but some analysts and officials in the oil companies believe that the mere access to six million barrels a day by 2017 would be a difficult task on the war-ravaged country. For his part, Frederick Boynton, director of government relations Middle East, a group (C IWC): includes Iraq incredible opportunities for investors in the field of assistance in the development of energy infrastructure in the state. At the same time, it combines unique challenges and environmental. Hence, the goal of this induction comes in providing investors with information and tools needed to explore the investment landscape in Iraq leads to attract more investments and energy sector development in the state South Oil acknowledges difficulty extracting oil fields Qayyarah and star in the same context, general manager of the Southern Oil Zia Jafar cupper difficulty working in the fields of leadership and actress who need to experience sophisticated A_i_arhma said in a press statement that the nature of the oil in the reservoir these fields need to be sophisticated techniques to extract the heavy oil that characterizes wells this to say, pointing out that the oils in these reservoirs closer to the solid-state . referring to a plan to develop distinct enters through fields into production two years later with a production capacity of up to 300 thousand barrels per day. The Southern Oil Company signed a contract for the development of fields of leadership and star in Nineveh province with Hanndol Angolan government partner for the Southern Oil Company.
prospects for the future
in a report published by ideas about Iraq in English came following:
witnessing Iraq's oil industry growth rising, but not fixed sometimes, it September saw a slight increase in oil exports, which still is the highest level since 2003. The reason for this is partly due to the resumption of Kurdistan foreign sales, and at the same time remained month profits as they were for the month of August. The problem, as is the case is the lack of appropriate infrastructure, which was and still one of the biggest obstacles to achieving the goals of power in Iraq. September also saw another rise in oil affairs after the invasion, for the length of the month, Iraq was exporting an average of 2.600 million barrels per day, an increase from August exports of 2.564 million barrels. Exports rising since July, either before it has been in the range up and down. With this, Iraq has exported the largest amount of oil abroad since the U.S. invasion in 2003. As a result, Iraq is today the second largest exporter among OPEC countries after Iran exceeded. And oil ministry said it hopes to reach 2.9 million barrels per day by 2013. This seems a reasonable goal, but a question of quantity, which can oil pipelines and ports absorbed. I have seen the major ports in opposite directions in Iraq last month. Valbesrh - the mainstay of the industry in the country - were exported an average of 2.180 million barrels per day in the month of September, less than the August rate of 2.252 million barrels and for the July rate of 2.216 million barrels. While witnessed the Northern Line from Kirkuk to Turkey 410 thousand barrels per day of exports in September. That was the largest amount since March, when issued 400 thousand barrels per day. This increase to resume Kurdistan oil exports in August, where pumping about 120 - 140 thousand barrels per day over the past month. Reason for the decline in exports south is not known in detail, where they can be due to a number of issues such as technical problems and bad weather, which usually suffer from the southern city of Basra.
despite the slight increase in exports of the South, the oil fields there is a period of steady expansion. In mid-September southern fields was producing about 2.5 million barrels, the only decline was in the Majnoon field, which was closed to make sustainability and will not resume until the beginning of next year. Iraq can export a larger quantity it not for his lack of infrastructure. Southern fields actually produce more than the country can absorb. As the government is dealing with the problem is slow. After years of sanctions, Iraq needs to everything for its oil industry in order to see greater progress, of new lines to the pumping stations to storage depots to the refineries. Unfortunately, the planning is sometimes based on short-term goals as there are always a red line and cause bureaucratic delays in everything. On the other hand, Iraq still benefit from high oil prices due to the instability of the global market. In September average selling price of Iraqi crude of $ 107 per barrel, an increase from the August price of $ 106.22. Over two months this year, the price fell to below $ 100 for the first time since February 2011, but it rose again because of the fighting in Syria and the sanctions imposed on Iran. As a result, earning Iraq $ 8.4 billion in the month of September, ie as gain in August. As long as the conflict continues in the Middle East, Iraq continues to turn a profit, and this is important for the country in general because oil provides 90% of government revenues and supports budget and GDP.
unpredictable always production of Iraqi oil, there months grows where then back collapses. For three months now increasing exports, prices and profits, but before that there was the collapse of over two months. This is simply the nature of the matter in Iraq's oil. What Iraq did not build all the infrastructure that will remain there needs fluctuation of the rise and fall, and that any retreat simple can affect the entire network and cause a decrease in exports. With this, the future looks brilliant, it's a matter of how long it takes to collect all the necessary parts so that Iraq will be able to reach full capacity potential.
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