Expectations that Iraq may become a key player in the oil market soon

On: Wednesday 5/2/2012 6:31

 Baghdad / term 
exports of crude oil last April, more than 2.0005 million barrels per day, which rise the first recorded exports of oil since more than 20 years, while expected among expert Iraq to be a fixture in the global oil market, after the increase The production capacity of crude oil next year to more than (4) million barrels of oil a day. The head of SOMO Falah al-Amiri, according to Reuters news agency: “The Iraqi exports of crude oil increased during the month of April last, to 2.0005 million thousand and eight barrels a day, compared to last March, which amounted to 2,000,317 thousand barrels a day.”

The Ameri added that “the rate of exports of Crude oil for April from the Basra oil amounted to 2,000,115 barrels a day, “adding that” the rate of export of crude oil from the Kirkuk oil amounted to 393 thousand barrels a day. ” 
This is a rise in the rate of oil exports during last April, is the first since 1990. 
The Oil Ministry announced early last April, a rise in oil exports for the month of March to more than 70 million, revenues increased to eight billion dollars, stressing that the ministry is seeking to increase its oil exports during the current year to reach 2.0006 million barrels. 
predicted oil minister, Abdul Karim and coffee on the ninth of last April that Iraq’s oil exports for the month of April will be affected by bombing Iraqi export pipeline Turkish, expected to reach oil exports for the month of April to 2.0003 million barrels, or slightly higher. 
Iraq has signed, during the year 2010, contracts with several international companies to develop some fields oil in the two rounds of licensing the first and second, to reach a production of at least 11 million barrels per day within the next six years, and 12 million barrels per day after you add the quantities produced from other fields of national effort focused those contracts in most of the fields south. 
noteworthy that Iraq suffering from a foot oil facilities, and currently produces about three million barrels of crude oil per day, and exported through Basra while making the remaining quantity by performing the north. 
In the meantime, expect director of the Institute Iraq Energy Louay Khatib Iraq to be a fixture in the global oil market, After increasing the production capacity of crude oil next year to more than (4) million barrels of oil per day and gas investment that accompanies it (70%), particularly from the oil fields south according to the plan of the Ministry of Oil. 
Khatib said (of the Agency news): The initial plan devised by the Ministry of Oil was aspiring to be the production capacity of Iraqi oil during the next five years (12) million barrels of oil a day, but the plan fell to (8) million and then to (6) million barrels per day, noting that this figure if the check will be Iraq The key player in the world oil market. 
He noted that this increase be accompanied by increased production capacity of the gas associated with oil, which burns in the oil fields south to reach its production capacity to (70%), which will develop the industry invading Iraq and bringing the production of electric power in the country. 
and was a member of the Committee Finance Deputy Najiba Najib had expected to get financial surplus large due to increased global price of oil, pointing to a possible distribution of wealth. derived from oil sales to the people the middle of the current year. 
said Najib (of the Agency news): The draft law on the distribution of oil revenues to the people provided the allocation (25%) of surplus revenues generated from oil sales and distribution of cash to the people through the development of a specific mechanism by the Ministries of Finance and Planning. 
She added that the abundance of Finance will appear in the middle of this year, specifically at the end of next June will be assembled in a box and add money to it (25%) of the increase achieved in the abundance of Finance last year, and is distributed at the beginning of the month of July next, either through the ration card or by other means determined by the Ministries of Planning and Finance.