Iraq will remain the second largest global producer of oil

Posted by on Jun 16, 2014 | Leave a Comment

Agency forecast global news, on Monday, to lead the complete lifting of Western sanctions for Iran to ignite a new spark of competition with Iraq’s fellow OPEC, the monopoly of the location of the product of the second global oil, indicating that analysts reckon that Tehran faces difficulties in its quest to wrest the title from Baghdad.

Reuters said in a report today, seen by (range Press), said that “both of the two neighboring countries of Iraq and Iran, is seeking to expand its facilities oil during the next few years, exacerbating the difficulties faced by the Organization of Petroleum Exporting Countries, OPEC, if it resulted in increased production of oil from other countries to force them to think about reducing the rate of production. ”

It showed the agency, that “Baghdad had raced through the year 2014 the current, the arrival of its production to three million and 400 thousand barrels per day, and raised the rate of its exports to a record in February last year, reaching more than 2.0008 million thousand b / d, which cemented its place in OPEC as the second-largest producer after Saudi Arabia. ”

The news agency Reuters, engineer Foundation Naftix Neftex Consulting geological, Peter Wells, who worked in Iran, saying that “the race is continuing to enhance the production capacity, as may be Iraq and Iran together during the next few years,” betting that “Iraq will try to further enhancing oil production, leaving Iran behind him. ”

They believed the agency, it is with “The arrival of the production of Baghdad for about three million and 200 thousand b / d, it is seeking to increase it to four million barrels Add oil production of the Kurdistan region,” indicating that “Iran, which has gained more confidence after the partial lifting of Western sanctions imposed on it, to pump additional quantities oil up to 2.0008 million thousand b / d. ”

Reuters reported that “Iran’s oil minister, Bijan Zangana, vowed to return to his former place as the second largest producer in OPEC if the lifting of sanctions by the West,” pointing out that “experts reckon Iran can not achieve it.”

Reuters quoted, the director of one of the oil companies, who declined to be named, was quoted as saying, “The infrastructure of Iran older but in action, but the biggest problems that prevent them from making progress in the production rates of oil, lies in the bureaucratic procedures and logistics,” returned it ” Iran’s hard to overcome the production rates Iraq nearly continuously for less than two years or maybe three years. ”

It is noteworthy that the Iraqi Oil Ministry, announced in, (the first of June 2014 present), rising exports to more than 80 million barrels per day during May last, posting revenues of material amounted to more than eight billion dollars despite the stop line Kirkuk – Ceyhan, since the second of March 2014 because of terrorist operations targeted at about frequently, indicating that “the quantities exported and the revenue for May 2014 southern ports recorded the highest rate of export on her since 2003, as the rate of daily exports of more than 2,000,582 barrels, with an average sale of a hundred dollars and 80 cents per barrel.

The Oil Ministry announced on the fourth of May 2014, that crude oil exports amounted to 2,000,512 barrels a day last April, indicating that its revenues amounted to seven billion and 576 million dollars.

He also announced index Platts (Platts) International, in (the 14th of May 2014), about the arrival of OPEC production during last April, to more than 29 million barrels per day, and achieved increased production March at a rate of 160 thousand barrels, and among the main countries caused the increase is Iraq, Angola, Saudi Arabia, confirmed that Iraq record “record” in its exports through the southern ports, despite the interruptions continued flow of crude oil through a pipeline Kirkuk-Ceyhan, as increased production rate of 100 thousand barrels per day, bringing total production to three million and 250 thousand b / d .


comment closed



You can subscribe by e-mail to receive news updates and breaking stories.



August 2017
« Dec