Oil: Iraq will become the most important sources of global energy
Oil: Iraq will become the most important sources of global energy
02.02.2014 (0:01 pm)
BAGHDAD / Hussein Lion
The Ministry of Oil, Iraq will soon become the “most important” sources of energy in the world, and that there will be nine million barrels by 2020, while showed that the Organization of Petroleum Exporting Countries have shown the possibility to absorb any increase in the export of Iraq, Saudi Arabia and Libya, has promised that “it will maintain stability” oil prices.
A spokesman for the Oil Ministry, Assem Jihad, said in an interview to the (long-Presse), said that “Iraq will soon be one of the most important sources of the world’s oil,” noting that “the Petroleum Exporting Countries, which occupies the foreground used reserves estimated at large, unlike Iraq, which did not invest them only little. ”
Jihad said, that “OPEC announced Wednesday (29 January 2014 present), about the possibility to absorb any increase in exports from Iraq, Saudi Arabia and Iran,” adding that it “ensures the preservation of the stability of the global oil prices.”
predicted spokesman on behalf of the Ministry of Oil, that “Iraq can export about nine million barrels per day by the year 2020,” noting that “the export will continue at that level for twenty years at least.”
was Iraqi Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has confirmed, on Wednesday ( January 29, 2014), that the war in Syria “obstructed oil and gas projects in the fields of Iraq,” noting that the export pipeline President extends to the Mediterranean “severely damaged”, and the security problems have hindered oil projects in the western region, but the processes of production and exports in southern fields “remained the province on the rates without effect.”
Shahristani was confirmed, in (18 December 2013 the past), that Iraq has oil reserves “of 143 billion barrels and accounting for 10% of global reserves,” and explained that it aims to produce nine million barrels of oil per day by 2020, stressing that Iraq needs to train 500 thousand employees to cover the needs in the major oil and gas sectors.
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