US report: Iraqi approach to extend an oil pipeline towards Syria

[SnowGlobe7]

ugggg hate to think about it

[Hotcurl]

39 minutes ago, Theseus said:

Production of additional oil in an oversupplied market only brings the price down. Heck they might as well throw the oil into the wind as much money they are leaving on the table. Oil has been in a downward overall trend since the highs in January. It has its peaks but if the oversupplied market is not allowed to reduce its supply, the price will fall below 45 a barrel. 

 

In other words, this is not as good as people think it is.

 

For me as a consumer, every time I fill the tank on my vehicles at the pump, the cheaper the better and I think that is pretty good.

It leaves more $$$ in my pocket for other things.

[Theseus]

23 hours ago, Hotcurl said:

 

For me as a consumer, every time I fill the tank on my vehicles at the pump, the cheaper the better and I think that is pretty good.

It leaves more $$$ in my pocket for other things.

Well alrighty! You have a choice then, a rollout of the RV that ends with pockets overflowing with cash and a chaffeur and sipping mai tais in Waikiki.... OR lower gas prices to drive yourself around with the kiddies in a 9 to 5 life living paycheck-to-paycheck? (I assume nothing of your circumstances AND hope the chaffeur is not also sipping mai tais in Waikiki). 

Edited June 7, 2017 by Theseus

[Wiljor]

Iraq, June 7, 2017 

Despite of growth in oil production since 2009, water constraints, midstream infrastructure woes, contract terms and other aboveground factors have hindered Iraq’s ability to hit production targets.

Ian Thom, principal analyst of upstream MENA for Wood Mackenzie, wrote, “Collectively, Iraq’s southern technical service contracts (TSCs) have added 2.3 million [barrels per day] of oil production since 2009—a remarkable achievement given the challenges.”

He noted that 70% of the added barrels are growth, while the rest are offsetting baseline decline.
But Iraq is producing 4.7 MMbbl/d below its 8 MMbbl/d plateau production target (PPT), Thom said, adding it has “only achieved one-third of the incremental production required to meet the PPT,” excluding baseline production.

Data from OPEC’s latest monthly oil market report showed Iraq produced about 4.37 MMbbl/d in April, down from about 4.41 MMbbl/d in March.
Efforts to grow production come as the global oil and gas industry continues to rebound from a prolonged downturn.
Iraq makes 90% of its revenue through oil. It has awarded development rights to some of the world’s biggest oil companies, it has been challenged by commercial, technical, political and security issues.

iraqdirectory

 

http://iraqdailyjournal.com/story-z15415209

[Gypsygirl11]

Thx Wiljor......gotta love it.

[SnowGlobe7]

3 hours ago, Theseus said:

Well alrighty! You have a choice then, a rollout of the RV that ends with pockets overflowing with cash and a chaffeur and sipping mai tais in Waikiki.... OR lower gas prices to drive yourself around with the kiddies in a 9 to 5 life living paycheck-to-paycheck? (I assume nothing of your circumstances AND hope the chaffeur is not also sipping mai tais in Waikiki). 

I remember when gas prices were over $3 a gallon I was o with it thinking it would lead to an RV...that was not the case. So now I also hope for low gas prices...especally now when they are exempt fro OPEC flow restrictions.

maybe we can get the best of both worlds .... perfect timing???

[sandfly]

Thanks 

[Hotcurl]

9 hours ago, Theseus said:

Well alrighty! You have a choice then, a rollout of the RV that ends with pockets overflowing with cash and a chaffeur and sipping mai tais in Waikiki.... OR lower gas prices to drive yourself around with the kiddies in a 9 to 5 life living paycheck-to-paycheck? (I assume nothing of your circumstances AND hope the chaffeur is not also sipping mai tais in Waikiki). 

 

9 hours ago, Theseus said:

Well alrighty! You have a choice then, a rollout of the RV that ends with pockets overflowing with cash and a chaffeur and sipping mai tais in Waikiki.... OR lower gas prices to drive yourself around with the kiddies in a 9 to 5 life living paycheck-to-paycheck? (I assume nothing of your circumstances AND hope the chaffeur is not also sipping mai tais in Waikiki). 

 

 Frankly Owl, I am insulted and offended my your comments to my post.

You do not know me, you do not know anything about my family life, my work career and or if I desire to drink alcohol on the beach in Hawaii.

Please keep you derogatory and condescending attitude and comments to your self.

Go back to your tree, have sex with yourself and a fat rat for your next meal.

[mr.unlikely]

Hotcurl he did say he makes no assumptions about your circumstances. Basically said he knows nothing about your life. Why would you tell him what he just told you? Why are people so quick to anger these days? I see it in the forums I see it on the road. I see nothing in Theseus' post that is remotely derogatory and ask the same question. would you rather have lower gas prices or RV And sugar city?

[Theseus]

9 hours ago, Hotcurl said:

 

 

 Frankly Owl, I am insulted and offended my your comments to my post.

You do not know me, you do not know anything about my family life, my work career and or if I desire to drink alcohol on the beach in Hawaii.

Please keep you derogatory and condescending attitude and comments to your self.

Go back to your tree, have sex with yourself and a fat rat for your next meal.

I am offended by your offense to being offending of me. I asked you what everyone on here has accused me of... I did so through logic. You said you like low gas prices to fill up your car. To do that the price of oil per barrel needs to DECREASE in price. Iraq needs oil to INCREASE in price. So if you want oil to DECREASE in price you are working against what Iraq want - INCREASE in price of oil and an RV. This is logic versus emotion as you displayed. You dream of sugar plums dancing in your head. Hence, the very reason why emotion is bad when you invest! Have said this for a very long time here. Thanks for illustrating the concept. Have a great day! Point. Set. Match.

Edited June 8, 2017 by Theseus

[3n1]

Its a easy research and study ... Iraqs currency exchange rate in relation to price per barrel , iraq has always had a high iqd vs usd value when oil rocked around for years at $25 or less per barrel its not the price per barrel or how much you can pump imo its the lack of an internationally traded currency and a free market economy ....... we wait

[ChuckFinley]

Thanks everyone for keeping this current. Just getting back from a day at the pit.  

[Theseus]

19 hours ago, 3n1 said:

Its a easy research and study ... Iraqs currency exchange rate in relation to price per barrel , iraq has always had a high iqd vs usd value when oil rocked around for years at $25 or less per barrel its not the price per barrel or how much you can pump imo its the lack of an internationally traded currency and a free market economy ....... we wait

Considering oil is accounts for about 85% to 90% of all monies flowing into Iraq and they base their yearly budget on the price per barrel of oil, it most certainly is about the price of oil as to where the IQD starts and eventually goes at this time. The IQD during the time of Hussein was artificially inflated to be what it was. An international currency has to have a price point based off of something or let's try to get oak leaves be traded internationally. I want my MTV!

 

[yota691]

final statistics: rising exports and oil revenues in May

 

 

 51 minutes ago

 

Twilight News / announced that the Iraqi Oil Ministry on Alaan rising exports and revenues generated for the month of May rate compared to last April, according to final statistics released by the Iraqi Oil Marketing Company "SOMO".

Said a spokesman for the Oil Ministry, Assem Jihad, in a statement reported to Twilight News, that "the amount of exports of crude oil amounted to 101 million and 100 thousand barrels, with earnings of $ 4 billion and (623) million.

He added that "the total exported quantities of crude oil from oil fields in central and southern Iraq amounted to 100 million and 400 thousand barrels, with earnings of $ 4 billion and 591 million dollars, while the total exports from the oil of Kirkuk ( 700) thousand barrels, with earnings of $ 32 million.

Jihad said that the price per barrel average (45.727) dollars.

He noted that the exported quantities were loaded by 35 different nationalities global company, from the ports of Basra and Khor al-Amaya and buoys unilateralism on the Gulf and the Turkish port of Ceyhan on the Mediterranean.

[yota691]

4.3 million barrels of Iraq's oil production

6/24/2017 0:00    Oil Minister Jabbar Laibi said that Iraq 's total oil production reached four million and 315 thousand barrels per day since the beginning of the current month of June.  Among press statements, that "total Iraqi crude exports three million and 800 thousand barrels a day more than a barrier," he said , at the same time that " the current amounts June include shipments exported from Kurdistan region of Iraq."  Among According to the statement that "crude exports from the Kurdistan region of Iraq amounted to about 530 thousand barrels per day , " pointing out that "oil prices will start to recover the end of next July , " likely that "the price of a barrel of oil to (54-56 dollars) by the end of the current year. "

[nannab]

800 thousand barrels a day from Iraq?  Wow when we win the dinar lottery we can

start an oil drilling refinery building company. I bet there are quite a few oil people

in our DV family.   Thank you Yota

[yota691]

 

Oil announces the export of more than 98 million barrels last month   Saturday July 1, 2017 20:29         Alsumaria News / Baghdad  Oil Ministry announced on Saturday, exporting more than 98 million barrels of oil last month, adding that imports of those exports exceeded four billion dollars.  Said ministry spokesman Assem Jihad said in a statement Alsumaria News received a copy of it, " the total exported quantities of crude oil for the month of June , from the oil fields in central and southern Iraq reached more than 97 million and 500 thousand barrels , " explaining that " the total exports of oil Kirkuk reached 677 thousand and 413 barrels. "   He explained, "These export revenues amounted to more than 4 billion and 130 million dollars , " noting that " the daily average of exports 3 million and 273 thousand barrels, at a rate of $ 42.067 per barrel."  The Oil Ministry adopts a monthly measure announcing the export revenues generated operations, stressing that this comes through belief in the need to see the people.

[10 YEARS LATER]

On June 23, 2017 at 2:34 PM, nannab said:

800 thousand barrels a day from Iraq?  Wow when we win the dinar lottery we can

start an oil drilling refinery building company. I bet there are quite a few oil people

in our DV family.   Thank you Yota

 

Oil Person right here !  North Dakota / Eastern Montana Bakken Oil Field 

[ChuckFinley]

11 minutes ago, 10 YEARS LATER said:

 

Oil Person right here !  North Dakota / Eastern Montana Bakken Oil Field 

When I read that post you were the first person I thought of.    

[10 YEARS LATER]

7 minutes ago, ChuckFinley said:

When I read that post you were the first person I thought of.    

 

Too funny - thanx 

[Gypsygirl11]

98 MILLION barrels last month - insane!

[ChuckFinley]

2 hours ago, 10 YEARS LATER said:

 

Too funny - thanx 

Your welcome. 

[nannab]

3 hours ago, 10 YEARS LATER said:

 

Oil Person right here !  North Dakota / Eastern Montana Bakken Oil Field 

 

   Your the CEO and we make davis411 the PRESIDENT that's a start. 

[10 YEARS LATER]

1 hour ago, nannab said:

 

   Your the CEO and we make davis411 the PRESIDENT that's a start. 

It's all good then - 

[yota691]

02-07-2017 12:53 PM

SOMO: total oil exports for the first half of the year 2017 amounted to 592.378 million barrels

 

 

 

The Oil Ministry announced on Sunday, that the total oil exports from the first half of 2017 amounted to 592 million barrels, noting that 37 international companies bought Iraqi crude oil. 

Said the ministry 's Oil Marketing Company (SOMO), said that the 'total oil exports for the first half of the year 2017 amounted to 592.378 million barrels', indicating that the ' monthly export rate reached 98.729 million barrels and an average of 3.29 million barrels per day. " 

She Somo that 'revenue generated from the sales of crude oil for the first half of this year amounted to 26 billion and $ 771 million at a rate of 4.592 billion dollars a month', noting that ' the monthly sales of crude oil price averaged $ 46 and 653 cents.' 

Somo explained that a global company and 37 ' various Asian and European and American nationalities bought Iraqi oil. " 

The world oil prices fell to below $ 40 per barrel , which affected the Muiznat oil - producing countries, especially Iraq as the budget by 95% dependent on oil exports.