Posts Tagged by OPEC
Iraq and Iran Are Competing for the Presidency of the “OPEC”
| April 23, 2013 | Filled under Iraq Daily News |
Said Iranian Oil Minister Rostam Ghasemi, “The competition between Iran and Iraq on the position of the General Secretariat of the Organization of Petroleum Exporting Countries / OPEC / look more serious.” Said Ghasemi in a press statement, according to the news agency Fars that he “did not issue a crucial decision by Saudi Arabia to abandon competition for…
Iraq’s Economy After the Invasion
| April 13, 2013 | Filled under Iraq Daily News |
Iraq’s economy is still ten years after the invasion which suffers legacy of the war and its aftermath of the repercussions have affected the lives of millions of Iraqis .. However it is hoped that Iraq can overcome those difficulties depending on its oil wealth. According to United Nations data suffer almost 60 percent of Iraqi families today from…
The Iraqi Economy’s Huge Potential
| February 12, 2013 | Filled under Iraq Daily News |
Based on its rich natural resources and huge market potential, Iraq’s economic prospects seem promising. Its population, currently 32 million, is forecasted to increase by over 3 percent annually, which will create a larger number of future consumers. Its gross national income (GNI) per capita, currently $2,640, is estimated to grow by around 10 percent per year on average. Spending…
IFC: We Invested $ 400 Million in Iraq
| October 14, 2012 | Filled under Iraq Daily News |
BAGHDAD / JD / .. A senior official at the International Finance Corporation of the World Bank that the corporation is planning to increase its investments in Yemen, Iraq and North Africa next year to help support development and job creation. Said Vice President of the Foundation for Europe, the Middle East and North Africa Dimitris Tsetserajus’s (CNBC ): The…
Despite Oil Reserves and Billions in International Aid, Iraq’s Economy Falters
| August 2, 2012 | Filled under Iraq Daily News |
The financial situation in Iraq, one of the world’s largest reservoirs of crude oil, has become grave. Iraq’s crown jewel — oil — is not helping its crumbling economy. The OPEC country has boosted its oil production to 3 million barrels a day, thanks to help from international companies. However, economists say that this will not be enough. Foreign investors…
Iraq’s Cabinet Backs $9.35 Billion Supplementary Budget
| July 4, 2012 | Filled under Iraq Daily News |
Iraq’s cabinet approved a supplementary budget of 10.875 trillion dinar ($9.35 billion) for 2012 on Tuesday, adding to a $100.5 billion package agreed by parliament in February, the government spokesman said in a statement. Budgetary matters usually pass through parliament after approval by the cabinet. The budget approved in February was based on an average world oil price of $85 a…
Iraq a Candidate for the Leadership of OPEC Oil Looking for a Pilot Site
| June 15, 2012 | Filled under Iraq Daily News |
Baghdad / follow-up JD / .. At a time when Iraq is more than the daily production of oil, proving its ability to be a key Mmona, push toward Baghdad preside over the Organization of Petroleum Exporting Countries (OPEC) in a bid to boost its image and its role in the assembly oil which contributed to the foundation. And Iraq…
Oil Output Soars as Iraq Retools
| June 3, 2012 | Filled under Iraq Daily News |
BAGHDAD — Despite sectarian bombings and political gridlock, Iraq’s crude oil production is soaring, providing a singular bright spot for the nation’s future and relief for global oil markets as the West tightens sanctions on Iranian exports. The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of…
Iraq Acts to Counter Iran Oil Threat
| March 23, 2012 | Filled under Iraq Daily News |
Iraq‘s cabinet has approved a contingency plan to increase the country’s options for exporting oil after Iran threatened to close the Strait of Hormuz. The bulk of Iraq‘s crude reaches the world market via the Basra export hub in the south of the country, where oil is loaded on to tankers and shipped though the strait. But Iraq also…
Iraq Oil Output Over 3m Bpd for First Time in Decades
| March 16, 2012 | Filled under Iraq Daily News |
Iraq’s oil production has risen above 3 million barrels per day for the first time in more than three decades, according to Reuters. “While I am talking to you today, the Iraqi oil production has exceeded 3 million barrels per day,” Deputy Prime Minister Hussain Al Shahristani told a conference in Baghdad. “Loading crude from the first floating oil…
Is Now the Time to Invest in Iraq?
| February 7, 2012 | Filled under Iraq Daily News |
Nearly nine years since the US-led invasion that toppled dictator Saddam Hussein, Iraq remains a state-centric economy and, beyond oil, private businesses have yet to play a significant role in the rebuilding of the once thriving Middle East bread basket. Infrastructure remains dilapidated after years of war and economic sanctions, and investment is needed to reform banking, build houses and…
Fall in Oil Demand a Troubling Prospect for Region’s Exporters
| November 11, 2011 | Filled under Iraq Daily News |
Surely the Middle East is the last place that should be worrying about energy security. Yet if a spate of articles last week is correct, the world’s premier oil region needs to be concerned about just that – not security of supply but of demand. The Financial Times, The New York Times and the energy guru Daniel Yergin, writing in…
Expectations of a Jump in the Production of Oil From Iraq
| November 5, 2011 | Filled under Iraq Daily News |
Increased recently, Iraq’s oil production amid forecasts that the production levels of the Iraqi black gold, during the next few years, the output of Saudi Arabia, the largest exporter of oil within the “OPEC.” The U.S. Energy Information Administration said that Iraq’s oil production last year jumped by 13 per cent, from 2.3 to 2.6 million barrels a day, note…
Iraq Aims to Join OPEC Quota System by 2014
| October 31, 2011 | Filled under Iraq Daily News |
Bloomberg reports that Iraq will ask to rejoin OPEC’s quota system for crude output in 2014. The holder of the world’s fifth-largest oil reserves plans to increased production from an average of 2.9 million barrels a day to 3.4 million barrels a day next year, and 4.5 million barrels a day in 2013, said Falah al- Amri, director of the State…
Iraqi Oil Attributes the Reluctance to Develop Oil Fields in Diyala to the Deterioration of Security
| October 25, 2011 | Filled under Iraq Daily News |
Baghdad, (Rn) – The Ministry attributed the reason for the reluctance of Iraq’s oil development of oil fields located in Diyala, northeast of Baghdad to the unwillingness of the investment companies to enter the province because of security problems in it. And emphasizes the local government in Diyala incurred losses amounting to more than one billion dollars annually due to…
New Stop Pumping Iraqi Oil to the Turkish Port of Ceyhan
| October 5, 2011 | Filled under Iraq Daily News |
A source at the North Oil Company said of an interruption in the new pumping Iraqi oil to Turkey’s Ceyhan port after the resumption of the process earlier due to a technical glitch again, expecting repaired in two days. The Iraqi Oil Ministry announced two days ago to stop pumping oil through pipelines to the Turkish port of Ceyhan, since…
Iraq Re-Offers 18 Gov’t-Run Factories to Investors
| August 12, 2011 | Filled under Iraq Daily News |
Eager to rebuild its ailing industrial sector, Iraq has relaunched a tender to rehabilitate 18 of its idle factories, for the second time this year, after failing to attract enough interest from foreign investors, an Iraqi official said. Investors continue to shy away from Iraq due to shaky security and low profitability, Abdul-Ghani Fakhri, director general of the investment department…
Iraq: The Crude Oil Market Is Witnessing a Remarkable Balance
| July 28, 2011 | Filled under Iraq Daily News |
Erbil, July (Rn) – The Iraqi Oil Minister expressed his belief that oil markets see a balance, denying the existence of any flaws or deficiencies in the production of crude oil. The news agency quoted (Mehr), the Iranian semi-official Iraqi Oil Minister Abdul-Karim and coffee as saying in the Gallery visit Iran on Monday that “crude oil prices at this…
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