Muhammad Posted February 1, 2010 Report Share Posted February 1, 2010 Iraq to be top oil producer in 6-7 years – ministerby Ed AttwoodThis email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 31 January 2010 Iraq will become the world’s largest oil-producing nation in "six or seven years", according to oil minister Hussain Al Shahristani. The official told Reuters that Baghdad is seeking to raise capacity to 12 million barrels per day (bpd) in that timeframe, which he believes will help the country negotiate its future oil quotas with OPEC. "We can't find a reason to prevent Iraqi production becoming higher than any other OPEC state or even states outside OPEC,” said Al Shahristani.“We expect that to happen in the next six to seven years with co-ordination and agreement with other OPEC producers," he said.Related: Iraq seen as key area for GCC investment in 2010 Story continues below ↓ advertisementIraq is currently exempt from OPEC quotas, although the country is raising its exports significantly, which the organisation believes could depress the oil price. "Iraq has been deprived of having a fair export level over the last years, during which we were not able to produce or export oil while other states got benefit from this and were able to export at higher levels," Al Shahristani said."Opec should put into consideration Iraq's need for oil revenues to rebuild its economy and country. Iraq has a definite need for these revenues."Local news agency Aswat Al Iraq said that oil revenues were up to $4.5bn in December.Speaking at the World Economic Forum in Davos, supermajor BP’s chief executive, Tony Hayward, indicated that it was not impossible that Iraq could lift its production to 10 million bpd in a decade’s time. However, Hayward told The Times newspaper that the realities of the challenges of execution on the ground and the need to build capability on the ground mean things will happen "a little slower than all of us are perhaps planning for today".They've got to revalue or reinstate IQD first to become world's No. 1 and it must be done without further delay! It's highly possible that they might not lop IQD to help us strengthen our nation America once again! Link to comment Share on other sites More sharing options...
mac lightning Posted February 1, 2010 Report Share Posted February 1, 2010 Great post...thx for taking the time to post it!!! Link to comment Share on other sites More sharing options...
etool101 Posted February 1, 2010 Report Share Posted February 1, 2010 The question is, does anyone actually think OPEC is going to let this happen? Link to comment Share on other sites More sharing options...
dhhigginbotham Posted February 1, 2010 Report Share Posted February 1, 2010 Great info, thanks for your research. Link to comment Share on other sites More sharing options...
steve14 Posted February 1, 2010 Report Share Posted February 1, 2010 I hope so for all of us Link to comment Share on other sites More sharing options...
ishihara Posted February 1, 2010 Report Share Posted February 1, 2010 good article. Need rv or ri to become all they can be Link to comment Share on other sites More sharing options...
steve14 Posted February 1, 2010 Report Share Posted February 1, 2010 thanks for the info Link to comment Share on other sites More sharing options...
tander3904 Posted February 1, 2010 Report Share Posted February 1, 2010 great research...thks Link to comment Share on other sites More sharing options...
babylexi Posted February 1, 2010 Report Share Posted February 1, 2010 Thanks for the post. Good research for all of us!! Link to comment Share on other sites More sharing options...
kjurb Posted February 1, 2010 Report Share Posted February 1, 2010 good info ! Link to comment Share on other sites More sharing options...
jetset Posted February 1, 2010 Report Share Posted February 1, 2010 I think they want it....why not be #1 Link to comment Share on other sites More sharing options...
serpico007 Posted February 1, 2010 Report Share Posted February 1, 2010 Thanks for the research. Link to comment Share on other sites More sharing options...
aceman Posted February 1, 2010 Report Share Posted February 1, 2010 thanks for the info Link to comment Share on other sites More sharing options...
Dodgeboy829 Posted February 1, 2010 Report Share Posted February 1, 2010 I think the IQD should be tradeable Link to comment Share on other sites More sharing options...
mvp Posted February 1, 2010 Report Share Posted February 1, 2010 Muhammad - Where did this article come from? Just interested in what news media this came from and who Ed Attwood is.... Link to comment Share on other sites More sharing options...
debranne Posted February 1, 2010 Report Share Posted February 1, 2010 good deal1 Link to comment Share on other sites More sharing options...
LC460 Posted February 1, 2010 Report Share Posted February 1, 2010 I hope for aRV or RI soon because some of us have been in this thing since 2005. Link to comment Share on other sites More sharing options...
toweyk Posted February 1, 2010 Report Share Posted February 1, 2010 posting now, this is fun Link to comment Share on other sites More sharing options...
mvp Posted February 1, 2010 Report Share Posted February 1, 2010 Thanks for all the lame posts - making me dig for a possible answer to my question!!! Link to comment Share on other sites More sharing options...
lrlamon Posted February 1, 2010 Report Share Posted February 1, 2010 i was wondering that a few months ago. Iraq will need to be producing more then the quotas placed by opec on the other countries to help build its economy. It will be interesting to see what OPEC lets iraq do. Link to comment Share on other sites More sharing options...
razorback4 Posted February 1, 2010 Report Share Posted February 1, 2010 thanks for info Link to comment Share on other sites More sharing options...
karma Posted February 1, 2010 Report Share Posted February 1, 2010 good info thks for the hard work Link to comment Share on other sites More sharing options...
Bamadreamer Posted February 1, 2010 Report Share Posted February 1, 2010 Great post....agree RI or RV has to get done now Link to comment Share on other sites More sharing options...
Muhammad Posted February 2, 2010 Author Report Share Posted February 2, 2010 The link is here, everyone (google search for the underlined sentence of words in blue): Iraq to be top oil producer in 6-7 years – minister - 1 day ago Iraq will become the world's largest oil-producing nation in "six or seven years", according to oil minister Hussain Al Shahristani. ...ArabianBusiness.comwww.arabianbusiness.com/580353-iraq-to-be-top-oil-producer-in-6-7-years--minister Link to comment Share on other sites More sharing options...
Recommended Posts