: production exceeded 2.6 million bpd for the first time in 20 years

[VIZIOIRAQI]

The new oil minister: production exceeded 2.6 million bpd for the first time in 20 years28/12/2010Radio Tigris - The new oil minister Abdul Karim Allaibi on Monday, that the production exceeded the country's oil for the first time in more than twenty years of 2.6 million barrels a day.

Allaibi said during his ministry received from his predecessor, Hussain al-Shahristani, "The day of our production exceeded 2.6 million barrels a day, a figure not reached him for more than twenty years."

The minister said he would seek a new role to be able to achieve this goal within the time limit itself. Allaibi was a deputy oil minister in four years.

http://www.akhbaar.org/wesima_articles/index-20101228-102437.html

[Logical1]

Thanks for the post!

[Doc31]

I'm telling you we've been "sand bagged" ... this is huge (and good for us) ... high oil price combined with much higher production ...

[Geck]

This is a GOOD thing.

It proves that Iraq can and will produce above expectations.

Not only that, they've budgeted the 2011 fiscal year at US$74.00 per barrel- the price of a barrel is now over US$90.00, and it's only going up!

Bitchin'.

[tim5400]

ALL WE NEED NOW IS THE RV.................................BAM.......

[prettybaby]

That is GREAT! So does this mean they can RV and run me my CASH?

[c5tech]

also stated this,

Iraq';s oil minister, Abdul-Karim Elaibi [Luaibi], says the country's daily crude production has exceeded 2.6 million barrels a day.</p>

The minister says oil production will reach its planned targets “sooner than expected. Elaibi did not set a date for reaching these new levels in comments to reporters on Monday, although some reports put the target at 3m bpd by the end of 2011.

He also commented that “the rate of $100 per barrel is a fair one for crude oil

Iraq has awarded 15 oil and gas contracts since 2008 and plans to reach daily production capacity of 12 million barrels from the current 2.6 million.

<p>Iraq plans to raise exports to 2.25 million barrels a day in 2011, up from 1.9 million at presentm

(Sources: Associated Press, Aswat al-Iraq

http://www.iraq-busi...up-to-2-6m-bpd/

Read more:

[Dinerry]

I LOVE the expression on the new oil minister Abdul Karim Allaibi's face!!!!

He looks, happy, surprised, impressed, thankful, hopeful!

This is HUUUUUUUGE NEWS!!!!!!"

Expectations are: 12 million barrels of crude per day X $90 (price right now, probably will go to $100)!!!!!!!!!

PER DAY = 1,200,000,000 CASH PRIZE DAILY of $BILLIONS IN JUST ONE DAY!!

And its not expensive to pump it out, I read.

.."Put a stick in the ground, and out it comes!"