Including Iraq, the world's highest oil reserves owned by 10 countries

[yota691]

Iraq will retain a huge reserve of oil wealth

07/10/2017 12:00 am  A call to ensure that the rights of future generations to enjoy the fruits of  Baghdad / Emad emirate is  characterized by Iraq , up the shelf life of the oil reserves, which is one of the criteria important indicators; reason - according Mokhtchin- to expand the uses of the noble to the development of other industries including petrochemicals in order to achieve rapid economic renaissance of the national economy and to benefit from This wealth will deliver it to future generations to enjoy its benefits.  The academic economist Dr. Said Bin for the "morning" that through the preliminary reading of oil reserves, we find that Iraq has the potential to make it the longest life of the default reserves of oil, as estimated life span of Iraqi oil reserves by 164 years, the longest virtual life, which means that Iraq will be one of the few countries to maintain a huge oil reserves.  Said explained the need to plan production to reduce the consumption of waste oil, and to direct a proportion of production towards the noble uses of this crude to achieve economic returns to the community far exceeds what is achieved by the traditional use of oil as an energy source, including the noble uses of oil primarily use as a raw material in the petrochemical industries and fertilizers, Medical and other.  Said said production planning is the only scientific method to prolong the life of oil reserves by linking the levels of production and export the size of the actual reserves to finance economic and social development in a way that ensures the future generations of their rights in this national wealth. He pointed out that Iraq is the first source of oil to put this scientific concept of production planning, and the first to determine the method of translating this concept into a scientific formula proved successful in the application after the process of nationalization of oil, which subjected oil wealth to national sovereignty and provided for the first time in the history of oil-exporting countries Planning the industry at all stages.  He added that oil revenues contribute to increase productive investment, improve living standards, expand absorptive capacity, obtain value added and exchange oil development by importing advanced technology, equipment and raw materials for economic projects, paying for oil revenues or paying the dues of investment companies. In Iraq from exporting oil to its countries. The academic economist d. Rahim Hassouni stressed the need to use economic standards when the disposal of financial resources in the field of government investment to achieve the increase in economic growth and diversification of sources of income and not to cut or dependence on the oil sector as a single source.  He pointed out in an interview with Al-Sabah that the revenues of this resource must be managed efficiently so as to achieve a fair distribution of  public services among all sectors of the society, in light of the social benefit and improving the welfare of all.  He stressed the importance of not exaggerating or exaggerating the exploitation of oil as this source of depleted resources, adding that excessive exploitation will lead to the depletion quickly, so the development of this resource on the one hand and the preservation of the rights of future generations when exploiting it are a political and economic responsibility, The real economic progress of a nation comes from the development and development of its human resources, rather than the development of its natural resources.  He added that there are examples of this for many countries in this field, which, despite their lack of possession of the oil resource, have managed to create real wealth through the development of their human resources, while the countries that just extracted and sold oil have become a consumer of wealth and not created or developed , And here must be the establishment of strategic projects that would reduce dependence on oil. He stressed that these projects will contribute to the absorption of unemployment rampant in society and generate demand for goods and services reviving factories then increase production and less dependence on the outside in meeting the needs of society, and must be synchronized or preceded by the development and use of alternative sources of energy.

[Officiallytook]

Wow 164 yrs of just oil wealth...

[ChuckFinley]

Well, that better add an addition $1.00 to the RV.  

[blueskyline]

Thank You Yota.... GE DV's ............................................................................................

[tigergorzow]

Yota Thanks,  DV,  All is looking good so far all we need now is an increase in the IQD 1:1 or 3:1......

 

GO UNITY OF IRAQ

 

GO HCL

 

GO RV / RI

[3n1]

awesome yota ... think i got u figured out .... you queue up about 200 articles to post while u get a couple hrs rest 

[Wiljor]

Evening DV, wow, that’s a lot of black gold buried underneath them there sands. Now, I know what you are all thinking..................hang tight folks, our train is coming in  

Nice find Yota, typical of a Jedi master  

[Wiljor]

1 hour ago, ChuckFinley said:

Well, that better add an addition $1.00 to the RV.  

 

With them numbers I would hope so Chuck. A great weekend out to you brother 

[ChuckFinley]

28 minutes ago, Wiljor said:

 

With them numbers I would hope so Chuck. A great weekend out to you brother 

You too brother. Just making it through Sunday and you will be ok. 

[Karsten]

Just come up to $1.30 to 1.70 and we would all be happy for a while.........We get happy and they get a new Country where the Western Folks liked to visit and spend money.

 

Karsten

[zul]

6 hours ago, Officiallytook said:

Wow 164 yrs of just oil wealth...

Add to the earlier art. about Iraq being the richest nation......it is beginning to sounds like a 3:1 to me.....

[unirod]

Reinstate The  IQD at  3 to 1 !!!!

[yota691]

Iraq ranks fifth in terms of global oil reserves

 

 Since 2017-10-14 at 10:51 (Baghdad time)

Baghdad Mawazine News

Iraq ranked fifth in terms of proven oil reserves worldwide, with a 142.50 billion barrels.

According to a recent study by Insider Manki, Iraq ranked fifth with a reserve of 142.50 billion barrels, ahead of Kuwait and the UAE.

The report was based on data from the annual statistical bulletin of OPEC, the US Energy Information Administration, the World Bank and the annual publication of BP.

Venezuela topped more than 300 billion barrels of proven oil reserves, followed by Saudi Arabia with more than 266 billion, Canada with 169.71 billion barrels, Iran with 158.4 billion, Iraq with 142.50 billion, Kuwait then the United Arab Emirates with 97.8 percent. Billion barrels.

The study also noted that unlike the top 10 countries, Nigeria, Kazakhstan, China, Qatar, Brazil and Algeria ranked 11th to 16th respectively.

It is noteworthy that Iraq is the second largest oil producer in the Organization of "OPEC" after Saudi Arabia, producing fields in the southern region where most of the Iraqi oil, which recorded exports during the month of December last record high.

[DinarThug]

LINK

Iraq ranks fifth in terms of global oil reserves

2017-10-14 at 10:51 (Baghdad time)

 

Iraq ranked fifth in terms of proven oil reserves worldwide, with a 142.50 billion barrels.

According to a recent study by Insider Manki, Iraq ranked fifth with a reserve of 142.50 billion barrels, ahead of Kuwait and the UAE.

The report was based on data from the annual statistical bulletin of OPEC, the US Energy Information Administration, the World Bank and the annual publication of BP.

Venezuela topped more than 300 billion barrels of proven oil reserves, followed by Saudi Arabia with more than 266 billion, Canada with 169.71 billion barrels, Iran with 158.4 billion, Iraq with 142.50 billion, Kuwait then the United Arab Emirates with 97.8 percent. Billion barrels.

The study also noted that unlike the top 10 countries, Nigeria, Kazakhstan, China, Qatar, Brazil and Algeria ranked 11th to 16th respectively.

It is noteworthy that Iraq is the second largest oil producer in the Organization of "OPEC" after Saudi Arabia, producing fields in the southern region where most of the Iraqi oil, which recorded exports during the month of December last record high.

[yota691]

2017/10/16 (00:01 PM)   -   Number of readings: 158   -   Number (4042)

 

 

Report: Iraq is the fifth in the world oil reserves

 Baghdad - New York / Range - Reuters 
 

Iraq ranked fifth in terms of proven oil reserves worldwide, with 142.50 billion barrels. According to a study prepared by the site, "Insider Manki," and published recently, Iraq ranked fifth with a reserve of 142.50 billion barrels, ahead of Kuwait and the UAE. The report is based on data from the annual statistical bulletin of OPEC, the US Energy Information Administration, the World Bank and the annual publication of BP.
Venezuela topped more than 300 billion barrels of proven oil reserves, followed by Saudi Arabia with more than 266 billion, Canada with 169.71 billion barrels, Iran with 158.4 billion, Iraq with 142.50 billion, Kuwait then the United Arab Emirates with 97.8 percent. The study also noted that unlike the top 10 countries, Nigeria, Kazakhstan, China, Qatar, Brazil and Algeria were in the 11th to 16th respectively. Iraq is the second largest oil producer in OPEC after Saudi Arabia, producing fields The southern region where most of the Iraqi oil and recorded exports During the month of December last record high. On the other hand, the oil markets tend to regain their balance, supported by the efforts of the Organization of the Petroleum Exporting Countries (OPEC) in cooperation with independent producers, as well as some international tensions that support prices.
Oil majors in the oil sector told Reuters the global oil market was regaining its balance with support from OPEC-led production cuts, although the prospect of further price increases next year or so seemed unlikely, Do not continue. The Organization of the Petroleum Exporting Countries (OPEC) and other producers led by Russia are cutting oil supplies by about 1.8 million bpd to get rid of the glut of global supplies of crude and refined products. 
Oil stocks in industrialized countries are falling, although they remain above the five-year average. Brent crude rose to $ 57 a barrel, but remained at half of its mid-2014 level, and Brent fell to near $ 27 a barrel in January 2016, its lowest level in 12 years.
"I think the market is on the right track, you can see the start of restoring balance, but it's a gradual decline, so I do not think we expect to see a huge drawdown of inventories," said Alex Bird, head of Glencore's oil unit at the Reuters Global Commodities Summit this week. Or a significant rise in prices. " 
Baird said he expected oil to rise slowly, and Brent was likely to reach $ 60 by the end of the year.
Marko Donand, chief executive of Mercuria, said near-maturity prices could be approaching $ 60, supported by lower inventory levels, but the five-year futures contract would have to be around $ 50 to $ 55, Production for American rock oil companies. "The last quarter should record a global deficit," he said. "The price is probably approaching $ 60, the nearest price, but there is no reason in particular for the forward price to move." He said he might expect a scenario where oil moves above $ 60 next year as a reaction to geopolitical events, but not for a sustained period. The president of Vitol, the world's largest oil trading company, also does not expect a surge in prices, telling the summit prices will remain "tight and tight" at between $ 50 and $ 60 a barrel next year.
"There have been some major drawdowns from stocks globally this year, and the situation looks much better than it did a year ago," Ian Taylor said. "While the market is in short supply and moving towards further inventory shortfalls, I do not fully believe that the market is convinced that this will continue for a long time." 
Turbion Tornquist, chief executive of Janover, said Opec could not "afford to give up" production cuts as supplies from abroad increased next year and he did not expect a big jump in price. Asked about his price forecast for the next 12 to 18 months, Turnkwest said Brent could remain "almost at the top of the $ 50 ... (if) OPEC maintains some discipline." Demand has increased by 1.5 million barrels per day (bpd) or by the current year's rate.
US crude futures averaged more than $ 49 a barrel since the beginning of 2017, well above last year's average of $ 43.47 a barrel. US crude settled yesterday at 85 cents, or 1.68 per cent, at $ 51.45 a barrel, after hitting its highest level since the end of September, with a weekly gain of 4 per cent. 
Some exploration and production companies cut their investment plans for 2017 over the past few months, after crude prices fell in May to below $ 50 a barrel. But it is still planning to spend more money this year than last year.
US production is expected to rise to 9.2 million bpd in 2017 and to a record 9.9 million bpd in 2018 from 8.9 million bpd in 2016, according to a federal energy sector estimate released this week. The International Energy Agency said this week it expects US crude production to grow by 470,000 bpd this year and 1.1 million bpd in 2018

[yota691]

Including Iraq, the world's highest oil reserves owned by 10 countries

24/10/2017 12:00 am  Capitals / follow-up morning According to a study by Insider Manki, the world's proven oil reserves are around 1.70 trillion barrels, accounting for about 96 percent of the world's total oil reserves, according to the data for the current year. According to the study, Venezuela took the lead by more than 300 billion barrels of oil in the form of proven reserves, followed by Saudi Arabia by more than 266 billion barrels and then Canada, Iran, Iraq and Kuwait, respectively. The report was based on data from the annual statistical bulletin of OPEC, the US Energy Information Administration, the World Bank and the annual publication of BP.  Venezuela was the world's first-largest producer, with proven reserves of about 300.88 billion barrels. Venezuela's production fell slightly last year to 2.41 million bpd from 2.64 million bpd in 2015 and from 3.34 million barrels a decade earlier. All Venezuelan exports in 2016 are more than $ 26 billion, of which oil exports are $ 24.14 billion, and the oil and gas sector accounts for 25 percent of GDP. Saudi Arabia is the world's second-largest crude exporter with 8.53 million barrels per day (bpd).  In the third place in the world, Canada came with estimated reserves of about 169.71 billion barrels. The country consumes up to 2.34 million barrels per day, while its production reaches 4.46 million barrels. Its exports reached 164.4 million tons last year, United Nations.  In fourth place globally, Iran has been dissolved, with reserves estimated at 158.4 billion barrels. According to the site, Iraq was in fifth place, with proven reserves estimated at 142.50 billion barrels, last year's exports amounted to 43.89 billion dollars, and production reached 4.47 million barrels per day last year.  Kuwait's oil production reached 3.15 million barrels per day and crude exports reached 46.26 billion dollars last year.  The UAE is in seventh place with proven reserves of about 97.8 billion barrels, with exports reaching 123.5 million tons in 2016, worth 45.56 billion dollars, accounting for 15 percent of total exports. Russia is the world's largest oil exporter by 8.63 million barrels per day in 2016, accounting for 13.2 percent of world crude exports, most of which go to Europe and China.  In the ninth place, Libya dissolved, with proven reserves of about 48.36 billion barrels. The value of Libya's exports of oil amounted to 9.31 billion dollars last year, compared with 60.19 billion dollars in 2012, and the production record 426 thousand barrels per day.  In the tenth place, the United States dissolved, the proven reserves reach about 48 billion barrels, the United States is a producer and a large consumer of oil, and although it owns some of the largest reserves of oil in the world, and production of 12.35 million barrels per day, it consumes 19.63 million barrels and imports the rest from Canada Mexico, Iraq and Saudi Arabia. Nigeria, Kazakhstan, China, Qatar, Brazil and Algeria were ranked 11th to 16th respectively.