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Iraq begins pumping through Al-Ahdab oil pipeline

Iraq began pumping crude Saturday through a pipeline connecting the central Al-Ahdab oil field to export terminals in the south, Deputy Prime Minister Hussein al-Shahristani said, adding that exports would begin August 1.

"The actual pumping into the pipeline began today with 40,000 barrels per day from the Al-Ahdab oil field," Shahristani told AFP, adding that within days the volume would increase to 60,000 bpd.

"The 400-kilometre (250-mile) pipeline will transport the crude to Toba," Iraq's largest oil storage facility, located in the southern port city of Basra, he added.

"Exports from Toba will begin on August 1," Shahristani said.

The Al-Ahdab oil field, near the city of Kut in central Iraq, is operated by the China National Petroleum Corp.

Production began on July 1, with 60,000 barrels, which officials say is expected to double by the end of this year.

The contract with CNPC, signed in 2008, allows the Chinese company to develop the field for 23 years.

Output will mostly be exported, but some will be used to fuel power generation stations nearby to ease electricity shortages.

Under the agreement, CNPC will charge a service fee of $6 a barrel, decreasing it eventually to $3.

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Dalite,

Since I value your opinions.....do you think this relates to the HCL?

If so...how?

In the article it talks about exporting oil August 1st....wouldn't it make sense to have the HCL in place & ratified prior to exporting?

Just an uneducated thought on my part.

Thanks

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Dalite,

Since I value your opinions.....do you think this relates to the HCL?

If so...how?

In the article it talks about exporting oil August 1st....wouldn't it make sense to have the HCL in place & ratified prior to exporting?

Just an uneducated thought on my part.

Thanks

I think you are spot on with that assesment! Let's get this over with!

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Dalite,

Since I value your opinions.....do you think this relates to the HCL?

If so...how?

In the article it talks about exporting oil August 1st....wouldn't it make sense to have the HCL in place & ratified prior to exporting?

Just an uneducated thought on my part.

Thanks

I don't know if my opinion is much to offer...

They are definitely working on the HCL, but they have also been exporting oil while doing so.

Aug 1 is a good benchmark to try to hit, showing major accomplishment before Ramadan.

China has already taken delivery of oil shipped from the Basra port a few months back.

Also, Kurdistan has been developing their fields and selling contracts.

The HCL will do a lot for the Iraqi citizens.

Let's hope something is completed soon. Aug 1 sounds great to me.

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This will increase by 20 fold in 2 to 4 years. Iraq will become the world's largest oil exporter. Int'l contracts will soon be rolling in as wealthy Iraqis demand a better standard of living. Money is to be made by everyone. The ID has the potential to further increase in value after RV. The Iraqi Stock Exchange will be another opportunity to invest in after we all cash in.

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I don't know if my opinion is much to offer...

They are definitely working on the HCL, but they have also been exporting oil while doing so.

Aug 1 is a good benchmark to try to hit, showing major accomplishment before Ramadan.

China has already taken delivery of oil shipped from the Basra port a few months back.

Also, Kurdistan has been developing their fields and selling contracts.

The HCL will do a lot for the Iraqi citizens.

Let's hope something is completed soon. Aug 1 sounds great to me.

Thanks for your assessment Dalite!!

Yes...lets hope something is completed by then indeed.

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Yes Iraq does export oil. I believe it is around 2 million barrels per day.

http://2.bp.blogspot...raqoilMay14.JPG

http://earlywarn.blogspot.com/2011/06/latest-iraqi-oil-production-stats.html

thanks. i appreciate the links. so this news is nothing new right? itsa positive step in the right direction but if oil is being exported already then this just adds to the list right?

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Nothing's going to happen for years...everybody jumps on every little tidbit of information. Just sit back and wait for a a decade or so until Iraq becomes a rich oil nation like Kuwait, S.A., Oman, etc...then it will revalue. IMO.

Usually if I say something like this everything goes the opposite! I hope it revalues soon! Go RV!!

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