Iraq: oil production reached 2.5 million barrels per day

[VIZIOIRAQI]

Iraq: oil production reached 2.5 million barrels per day22/12/2010Oil Minister Abdul-Karim LaibiBaghdad (22 December) and (AKI) Italian News Agency - the Minister of the new Iraqi oil Abdul Karim Allaibi "beyond Iraq to the rates of production of crude oil for up to 2.0005 million barrels per day after that production was less than 2,400 million barrels" per day.

He noted Allaibi in a statement that "the increase is the first since 2003, comes the rate of new production on the impact of the success of the staffs of national cooperation with international companies downsample time period to less than a year to achieve an increase of 10% of the Rumaila and Zubayr" more likely for "rises" from other fields in the coming period.

According Allaibi, the "from within the ministry plans future focus on the rehabilitation of infrastructure, especially the development of system of Iraqi oil exports from the south and the arrival rates to 4,5 million barrels, commensurate with the gradual increase of the production of the future of Iraq", as well as "the establishment of new warehouses in the south in order to increase energy Altkhoznip of Iraqi oil exports in the southern ports and warehouses, including FAO, Nasiriyah and Al-Zubair, "according to the statement.

With regard to the relationship with Kurdistan Laibi explained that "discussions with the region will continue in order to find solutions to serve the public interest", in reference to the differences existing oil between Baghdad and Erbil.

In a related context, the newspaper quoted the (morning) Iraq's semi-official and former oil minister and deputy prime minister for energy affairs in the new government Hussain al-Shahristani as saying that "the Kurdistan Regional Government can not export oil extracted from fields located within the territory of the region without reference to the central government, particularly that the Constitution stressed that the country's oil wealth belongs to all Iraqis, must be issued for the federal government. "

http://www.akhbaar.org/wesima_articles/index-20101222-102150.html

[marknet73]

That's some serious dough. Looks like they're on their way back to becoming an economic powerhouse.

[trishberg]

That is $222,500,000 a day, $1,557,000,000 a week !!!

That's a lot of oil! and that's a lot of zeroes

[Kandi77]

That means it would take them less that an hour to cash me out if it RVs at $3.00. Come on RV!!!!

[Uncle Barkie]

That means it would take them less that an hour to cash me out if it RVs at $3.00. Come on RV!!!!

You read my mind exactly !

[Fairways&Greens]

Iraq: oil production reached 2.5 million barrels per day

This number will only go up from here. Oil production is expected to reach 12 million bpd by 2016! No question in my mind they will RV their currency---and soon!

[Action316]

NICE FIND

[estephan]

If the US was to purchase all of that with dinars in Federal Reserve, (dollar wise the would be $105,000,000 a day ) based on the $42 pbl agreement!!!

[estephan]

If the US was to purchase all of that with dinars in Federal Reserve, (dollar wise the would be $105,000,000 a day ) based on the $42 pbl agreement!!!

dinar wise as of now that would be iqd122,850,000,000 !!! someone needs to RV or am I high?

[Frank61]

Iraq: oil production reached 2.5 million barrels per day22/12/2010Oil Minister Abdul-Karim LaibiBaghdad (22 December) and (AKI) Italian News Agency - the Minister of the new Iraqi oil Abdul Karim Allaibi "beyond Iraq to the rates of production of crude oil for up to 2.0005 million barrels per day after that production was less than 2,400 million barrels" per day.

He noted Allaibi in a statement that "the increase is the first since 2003, comes the rate of new production on the impact of the success of the staffs of national cooperation with international companies downsample time period to less than a year to achieve an increase of 10% of the Rumaila and Zubayr" more likely for "rises" from other fields in the coming period.

According Allaibi, the "from within the ministry plans future focus on the rehabilitation of infrastructure, especially the development of system of Iraqi oil exports from the south and the arrival rates to 4,5 million barrels, commensurate with the gradual increase of the production of the future of Iraq", as well as "the establishment of new warehouses in the south in order to increase energy Altkhoznip of Iraqi oil exports in the southern ports and warehouses, including FAO, Nasiriyah and Al-Zubair, "according to the statement.

With regard to the relationship with Kurdistan Laibi explained that "discussions with the region will continue in order to find solutions to serve the public interest", in reference to the differences existing oil between Baghdad and Erbil.

In a related context, the newspaper quoted the (morning) Iraq's semi-official and former oil minister and deputy prime minister for energy affairs in the new government Hussain al-Shahristani as saying that "the Kurdistan Regional Government can not export oil extracted from fields located within the territory of the region without reference to the central government, particularly that the Constitution stressed that the country's oil wealth belongs to all Iraqis, must be issued for the federal government. "

http://www.akhbaar.org/wesima_articles/index-20101222-102150.html

The great thing is these are historic numbers for this early on !!!

[jte70]

That 100,000 bpd increase is just over the course of one week.

[estephan]

holy crap!!! they could easily finance a $4.55 RV any day they wish too.

[JayLee202]

If the US was to purchase all of that with dinars in Federal Reserve, (dollar wise the would be $105,000,000 a day ) based on the $42 pbl agreement!!!

That's the plan. The Foreign Currency Reserves will be using Dinars to purchase oil.

[jte70]

Ever think why the newly appointed oil minister made this announcement NOW? They are definitely trying to show themselves as on the mend!

[estephan]

very true jaylee, but only for aslong as it takes to spend those dinar. which will not take long there is only 27,000,000,000 out there! That will be wicked up in no time!!! And thats good for us ,No that is incredible for everyone concerned!!!

very true jaylee, but only for aslong as it takes to spend those dinar. which will not take long there is only 27,000,000,000 out there! That will be wicked up in no time!!! And thats good for us ,No that is incredible for everyone concerned!!!

Our country consumes 20,000,000+ bpd

[SaRSam]

That is $222,500,000 a day, $1,557,000,000 a week !!!

damnn!!!!!

[estephan]

very true jaylee, but only for aslong as it takes to spend those dinar. which will not take long there is only 27,000,000,000 out there! That will be wicked up in no time!!! And thats good for us ,No that is incredible for everyone concerned!!!

Our country consumes 20,000,000+ bpd

Crap now I'm deleting 000 ,sorry meant to say there is only 27,000,000,000,000 iqd out there