Posts Tagged ‘Extraction of petroleum’

IMF: the structure of the Iraqi economy is still at risk

Posted: March 24, 2013 in Iraqi Dinar/Politics
Tags: , , , , , , ,

International Monetary Fund

Published on Saturday, March 23 / ​​March 2013 11:37
The International Monetary Fund said on Saturday that Iraqi oil exports spurred economic growth, the Iraqi economic structure Mibaka Iraq in the circle of suspicion.

A statement by the International Monetary Fund got “obelisk”, a copy of which, following the conclusion of a comprehensive assessment of the Iraqi economy, “The structural economic Iraqi still suffer from weak seriously in the economic field and especially since the unemployment rate is high and the business climate bad as weaker non-oil sector.” (more…)

IMF welcomes growth in Iraq

Posted: March 22, 2013 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Iraq produced 3.15 million barrels of oil a day and emits 2.5 million barrels

Welcomed the International Monetary Fund , on Thursday, accelerating the pace of growth in Iraq thanks to oil exports , but expressed concern about the points of “structural weaknesses” accumulated in the country, ten years after the U.S. invasion.

He considered the fund said in a statement posted at the end of the mission in Iraq “despite the political and security environment is difficult, Iraq succeeded in maintaining the stability in terms of economic sectors in the last two years.” (more…)

Iraq says he owns 11% of global oil reserves

Posted: June 27, 2012 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Erbil, June 27 (Rn) – Deputy Prime Minister for Energy, Hussain al-Shahristani said in a statement that Iraq has 11% of global oil reserves and that he is about to invest this energy in the coming years.

Iraq seeks to boost oil production to lesbian in three years with his recovery from decades of war and sanctions and is expected to implement the largest expansion in production capacity of oil in the world in 2012 with the opening of new outlets. (more…)

Iraq: Oil output highest since 1979

Posted: March 5, 2012 in Iraqi Dinar/Politics, Top Headlines
Tags: , , , , , , ,

Top Iraqi energy officials say oil production is now over three million barrels per day, will rise to around 12 million bpd by 2017.

Middle East Online

Iraq exported 65.3 million barrels of crude in January

BAGHDAD – Iraq’s oil production is now over three million barrels per day (bpd), the country’s highest output since 1979, top Iraqi energy officials said on Monday in Baghdad.

“Oil production is now over three million barrels per day,” Hussein al-Shahristani, Iraq’s deputy prime minister for energy affairs, said in a speech at the oil ministry. (more…)

International Atomic Energy Agency reconsiders the importance of Iraqs oil, globally

Posted: February 16, 2012 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Thursday, 16/2/2012

Announced that the International Atomic Energy Agency, which represents oil-consuming countries, it is a “reconsideration of an extensive study of” on Iraq, especially on oil production is “a fundamental issue for the future of world energy.”

And considered the Director-General of the International Atomic Energy Agency Maria van der Hoeven said in a statement that “Iraq’s energy sector is at once essential to the reconstruction and development of the Iraqi economy and involves a great importance to the prospects of the world.” (more…)

MPs to meet with oil and energy senior officials

Posted: February 11, 2012 in Iraqi Dinar/Politics
Tags: , , , , , , ,

BAGHDAD, Feb. 11 (AKnews) – The Acting Oil and Energy Committee at the House of Representatives will meet with Deputy Prime Minister for Energy Affairs Hussein al-Shahrestani and Oil Minister Abdul-Kareem Luaibi on Wednesday to discuss oil production developments.

Member of the Acting Committee Furat Shar’e said the officials are expected to talk about the plans and procedures for increasing oil production and export capacity of the Iraq and the impact of the world economic crises on the Iraqi oil sector. (more…)

$83 billion; Iraq’s oil revenues in 2011

Posted: January 2, 2012 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Declared Iraqi oil marketing company (SOMO), Monday, the Statistics Iraqi oil production during 2011, noting that 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, some of which stop 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. (more…)

Economic Reports: 40% of Iraqs oil reserves in Kurdistan

Posted: November 18, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Newspaper reports revealed that the local economic region of Kurdistan in its territory includes forty percent of oil reserves in Iraq.

They noted reports that the region intensifies its efforts to raise the ceiling on oil production to two hundred and fifty thousand barrels per day by the end of this year.

Press reports indicated the economic to the Minister of Natural Resources in the province Iachta Hawrami announced at a conference of oil and gas contract in the region in the thirteenth of this month, attended by the largest foreign oil companies operating in the province, the government struck a deal with the world’s largest oil company is Exxon Mobil and the U.S. that will work under which exploration and extraction in six oil fields in the region.

http://bit.ly/sGY540

Iraq is the main contributor in oil production till 2035

Posted: November 12, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

BAGHDAD / Aswat al-Iraq: Iraq will be the main contributor in oil production increase till 2035, according to International Energy Agency periodical report.

The report said that OPEC will achieve an increase of 2.9 b/d in the medium range, namely 23.8 million b/d in 2010 to 26.7 million b/d in 2015, to 36 million b/d in 2035.

It clarified that in case of achieving such an increase, the OPEC percentage in world production was 42% in 2010 to be increased to 51% in 2035. Iraqi oil production shall be the main contributor, whose production will be tripled from 2.5 million b/d to 7.7 million b/d, though this figure is different from Iraqi government expectations to reach 12 million b/d in 2017.

http://bit.ly/sRjmfZ

Iraq’s proven oil reserves at 143 billion barrels

Posted: November 12, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , , , ,

United Nations confirmed in a report that Iraq has oil reserves, stressing more than 143 billion barrels and potential reserves exceeding 200 billion barrels, placing the country among a small group of countries that have a high potential for oil production and influence in global oil markets. The unit of information and analysis of inter-agency United Nations and UNDP for the organization (Yu said DBS) prepared a report on the reality of the oil and gas in Iraq, which included a complete analysis of this sector. (more…)

Iraq’s gross domestic product set to top 9%

Posted: November 1, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Posted on » Monday, October 31, 2011
BAGHDAD: Iraq’s gross domestic product (GDP) growth should rise to nine per cent in 2012 from around 6pc currently, mainly driven by an expected increase in oil production and exports, a senior central bank official said yesterday.

Iraq has some of the world’s largest oil reserves and is currently producing about 2.9 million bpd. High oil prices have helped the country earn billions of dollars more than projected this year.

“It will easily jump to 9pc next year, it will not be difficult. If production and exports in the oil sector rise, it is possible to reach that figure,” Iraqi Central Bank deputy governor Mudher Kasim said. (more…)

Economic Researcher: oil imports will reach 250 billion dollars annually over the next five years

Posted: October 10, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

likely economic researcher Hussein star, increase the size of Iraq’s oil production in the coming years to (6) million barrels and imports will reach 250 billion dollars a year, calling for the use of these funds to investment projects and service to the country.

A star in a statement to the Agency (news) on Monday: Iraq will develop its oil production from (3) millions of barrels to (6) millions of barrels during the next five years, contrary to what established by the plan, the oil that up to (12) million barrels up to a year (2017), He pointed out that staggering figure is difficult to access it within five years.

(more…)

Bloomberg: Iraq Oil Output Reaches New Highs

Posted: September 20, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Posted on 19 September 2011. Tags: oil production

Bloomberg reports that Iraq’s oil production rose to 2.81 million barrels a day, the highest level since the U.S.-led invasion in 2003.

Output from oilfields in the Basra reached 2.113 million barrels a day, while daily production in Kirkuk stood at 697,000 barrels, the Oil Ministry said in a statement.
(Source: Bloomberg)

http://bit.ly/q6SkeP

Bloomberg: Iraq Says Oil Output Capacity to Reach 12 Million Barrels a Day

Posted: July 15, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
0

Iraq will raise its oil-production as planned to 12 million barrels a day in the next few years, even if actual production is only half that amount, depending on market demand, an Oil Ministry spokesman said.

“The planned production capacity is 12 million barrels a day, but we may only produce 6 million barrels a day,” Asim Jihad told state-sponsored Iraqiya television. “Iraq will produce in accordance with global crude market needs.”

Read More: http://www.bloomberg.com/news/2011-07-14/iraq-says-oil-output-capacity-to-reach-12-million-barrels-a-day.html

Iraq Oil Minister: Iraq has now become the third largest in oil reserves

Posted: May 22, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
0

Iraq’s oil minister Hussein al-Shahristani claimed Thursday that the country has now become the third largest oil reserves holder with 200 billion barrels. According to the minister, Iraq’s oil reserves were largely increased from an earlier estimate of 115 billion barrels but it remains 13th in oil production.

Iraq is currently exporting at a rate of 2.6 million barrels per day and aims to hit 3m bpd by the end of the year.

(more…)

Iraq to increase oil production 5 times in 6 years

Posted: May 15, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
0

Posted 15/05/2011 10:00 AM

BAGHDAD (AFP): Iraq today renewed his assertion that he will enhance oil production to reach five times during the next six years, despite the skepticism that has already been shown by the International Monetary Fund in this goal.

He said Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani at the symposium dealt with the situation in Iraq as seen by the donor countries held in Baghdad, said “The government is seriously convinced oil companies contracting for the implementation of contractual obligations full access to the production of 12.5 million barrels per day by 2017.”

(more…)

AP/Yahoo: IMF skeptical of Iraq oil targets

Posted: March 28, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
0

The International Monetary Fund Monday expressed doubts over Iraq’s ability to meet its long-term targets for oil production, currently the source of nearly 90 percent of government income.

The IMF said infrastructure constraints were likely to prevent Iraq from boosting production from 2.5 million barrels now to its goal of 13 million barrels by 2017 — more than oil king Saudi Arabia’s current production.

(more…)

Oil Expert: Saudi oil production increase will affect Iraq’s budget

Posted: February 12, 2011 in Iraqi Dinar/Politics
Tags: , , , , , , ,
0

Baghdad (news) .. warned oil expert Halim Kazem of the Kingdom of Saudi Arabia to increase production of oil, which will affect the Iraqi budget. Kazim said in a statement singled out by the Agency (news) on Saturday: can Saudi Arabia be used to increase oil pump for the drop in prices will be clear to the Iraqi economy and on the budget.

(more…)

Shahristani: Iraq will control the World’s Oil Policy in the Future

Posted: December 27, 2010 in Iraqi Dinar/Politics
Tags: , , , , , , ,

Deputy Prime Minister for Energy, Hussain al-Shahristani, Monday, Iraq will control oil policy to the world in the future after the presentation of the majority of oil fields for development, saying the contracts signed with international oil companies of the best contracts, as pointed out the new oil minister, Abdel Karim coffee that Iraq’s production of oil rose to more than 2.0006 million barrels a day.

Shahristani said in an interview , on the sidelines of celebrations organized by the Oil Ministry on the occasion of the receipt of the new oil minister, Abdel Karim coffee functions that “Iraq will be an introduction of the world in oil production after the presentation of most of the oil fields for development by international companies,” noting that “Iraq’s oil production will arrive over the next six to 11 million barrels or 12 million barrels per day when the national effort to add.”

(more…)