Experts: Iraq Will Supply Half Of The Global Market Demand For Crude Oil ~ Abiotic Oil Very Strong For Next 100 Years!

United States Embassy In Baghdad. Largest Embassy In The World.

United States Embassy In Baghdad. Largest Embassy In The World.

Al-Sabah – 2013

2013 12:00 AM

Translated

Rising exports and imports for the second month in a row

Baghdad morning:

Confirmed participants in the Third National Energy Conference, that Iraq will fill a need the world’s crude oil by 50 percent over the next ten years. Comes at a time when the Ministry revealed oil from oil exports rise in March last year, unrealized revenue of $ 7 billion and $ 772 million

Entrance To The U.S. Embassy Baghdad

Entrance To The U.S. Embassy Baghdad

Said former oil minister Ibrahim Bahr al-Ulum, in his speech to the Third National Energy Conference, which was held under the auspices of Prime Minister Nuri al-Maliki, the sports hall of the Faculty of Education at the University of Baghdad on Tuesday: “Iraq is passing through the large shifts in the field of oil and energy, especially in service contracts with international companies, the most important in the promising field of Nasiriyah and the creation of Nasiriyah refinery capacity of 300 thousand barrels, in addition to the existence of a new strategy to link the oil pipeline to the port of Aqaba Jordanian.

Bahr al-Ulum stressed at the conference which was attended by 50 national oil companies from the public and private sectors, that “the rehabilitation of the export pipeline to Turkey will make Iraq safe from the dangers that may prevent the export of oil from the Gulf region” , referring to “other projects of the Ministry related to the production of oil and natural gas associated with oil, especially after the direct Basra Gas Company work to extract the gas from fields in the south.

He pointed out that “these projects are all give futuristic indicators that Iraq would be one of the largest oil and gas producers in the world, especially during the next ten years, which is expected to fill 50 percent of the global market need for crude oil.”

For his part, Deputy Chairman of the Commission on oil and energy parliamentary Ali Fayad, the presence of large obstacles prevented advancement in a lot of oil installations and infrastructure for the energy sector and oil. Fayad said in his speech on the sidelines of the conference: “political differences legislation prevented a lot of laws and special task in the field of oil and energy,” noting at the same time that “many of the institutions of the state are directly related to the oil sector, but there is no relationship and inter-institutional cooperation for the development of this vital sector, making the possibilities and untapped potential. “In the meantime, the Oil Ministry announced to increase its oil exports in March last year, posting revenue of $ 7 billion and $ 772 million.

He said spokesman Assem Jihad, the oil ministry, in a press statement on Tuesday: “The increased crude oil exports in the month of last March and amounted to 74 million and 900 thousand barrels, while revenue was $ 7 billion and $ 772 million,” pointing out that “the average selling price of $ 103.7 per barrel.” Jihad added that “total exports تقسمت between Basra oil issued 65 million and 100 thousand barrels, and reached 6 billion and imports $ 764 million, while the Kirkuk oil exports amounted to 9 million and 800 thousand barrels, imports amounted billion and $ 8 million. ”

He explained that these quantities were uploaded by 28 international oil company through the ports of Basra and Khor Al-Zubair on the Arabian Gulf, and the Turkish port of Ceyhan on the Mediterranean Sea and pelvic trucked to Jordan. ”

Jihad said that “exports in February amounted 71 million barrels, an average of 2.54 million barrels per day,” adding that “Iraq has achieved revenue of 7,644 billion dollars, according to figures published by the company State Oil Export (SOMO). ”

 Alrafedain

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Looking Over The U.S. Embassy Baghda

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