Iraq’s Ambitious Plan to Boost Oil Output

[Sara Johnson]

Iraq’s Ambitious Plan to Boost Oil Output

March 25th, 2011 by Editor

The Iraqi oil minister said his office is planning to raise oil production

volume to 6.5 million barrels per day (bpd) over the next four years.

Abdul-Kareem Lueibi [Luaibi, Elaibi] told a press conference that the ministry

expects to raise the volume to 2.75m bpd in 2011, 3.3m in 2012, 4.5m in 2013,

and 6.5 in 2014.

In the former cabinet the ministry anticipated it could raise the level to 12m

bpd in five years. However, some observers believe the maximum limit at 7m bpd.

The plan is expected be submitted to the cabinet in Baghdad for approval in a

few days.

(Sources: AKnews, Wall Street Journal)

http://www.iraq-businessnews.com/2011/03/25/iraqs-ambitious-plan-to-boost-oil-output/

[HYDRANT]

YES THIS COULD HAPPEN AND THAT WOULD BE GREAT-BUT NEVER COUNT YOUR CHICKENS TIL THEY HATCH-ALOT CAN HAPPEN FOR THE BAD IN THE NEXT 4YRS----I LOOK FOR A MONKEY WRENCH THROWN INTO THIS SOME HOW-BUT LETS HOPE FOR THE GOOD

[tjmunson]

Iraq’s Ambitious Plan to Boost Oil Output

March 25th, 2011 by Editor

The Iraqi oil minister said his office is planning to raise oil production

volume to 6.5 million barrels per day (bpd) over the next four years.

Abdul-Kareem Lueibi [Luaibi, Elaibi] told a press conference that the ministry

expects to raise the volume to 2.75m bpd in 2011, 3.3m in 2012, 4.5m in 2013,

and 6.5 in 2014.

In the former cabinet the ministry anticipated it could raise the level to 12m

bpd in five years. However, some observers believe the maximum limit at 7m bpd.

The plan is expected be submitted to the cabinet in Baghdad for approval in a

few days.

(Sources: AKnews, Wall Street Journal)

http://www.iraq-businessnews.com/2011/03/25/iraqs-ambitious-plan-to-boost-oil-output/

This approval is crucial for our investment IMO. If they OK 6.5 million bpd due to reserves in the ground this will be a huge boost to the potential future value of the IQD. We need to keep an eye on this one.

Great post!!!

[NOT2SHABI]

thank you cSJ! Right on TJ. Have a great weekend.