Friday, July 17, 2009

Northern Oilfield Boosts Iraq's Exports


Oil production from Iraqi Kurdistan's Taq Taq oil field fluctuates between 20,000 and 40,000 barrels per day, of which exports range between 12,000 and 30,000 bpd, a senior engineer at the site said on Friday.

Iraq's finance minister this week said Iraqi oil exports, of which the majority is produced in the country's south, reached 2.1 million bpd in July so far, putting the country on track for its highest oil export volume since the 2003 U.S.-led invasion.

The gas sector, however, still lags behind, Azzaman reports:

Iraq’s natural gas reserves are the tenth largest in the world but its output hardly meets domestic needs, a senior government official said.
Ali Al-Dabagh said the government is not in a position to consider exporting its natural gas. “We cannot make promises as far as exporting natural gas is concerned due to rising domestic needs,” Dabagh said.
Dabagh’s the remarks come following a statement by Prime Minister Nouri al-Maliki in which he said Iraq could commit 15,000 cubic meters of natural gas for export to Europe. “Iraq may become a good exporter of gas to Europe but there will be no exports in the foreseeable future,” Dabagh said.

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