10 facts about Iraqi oil

10 facts about Iraqi oil



2017/04/22 | 10:22
(Encyclopedia of this Day News | Iraq News ) - Economy News Baghdad: Oil backbone of the economy in Iraq.

It is the first source of financial revenue.

It occupies thousands of Iraqis, and contributes a third of GDP.

Since the start of production in 1934, and Iraq depends on oil.

The following are the most important facts and statistics about this vital sector in Iraq.

Iraq 's production is the second largest oil producer within the Organization of Petroleum Exporting Countries ( OPEC ) after Saudi Arabia.

During 2015 , the rate of production reached 4.1 million barrels per day.

In 4.6 million barrels of 2016 exceeded in some months.

Iraqi Oil Ministry expects that the sector maintains this rise, breaking through five million barrels per day ceiling by the second half of the year 2017.

reserve Iraq owner of the fifth - largest oil reserves in the world after Venezuela, Saudi Arabia, Canada, Iran.

Arab, is the second after Saudi Arabia.

Iraq reserves estimated 143 billion barrels, accounting for about 11 percent of global reserves.

Iraq 's fiscal revenue depends heavily on oil revenues.

In 2014, oil export revenues accounted for 93 percent of the total resources of the Iraqi government.

Oil also contributes B33.1 percent of gross domestic product ( GDP ) .

Consumption consumes Iraq, according to 2015 statistics, about 770 thousand barrels per day of internal consumption.

Export Iraqi exports reached a combined value of 2015 to 54.667 billion, of which 54.394 billion dollars , oil exports only, equivalent to 99.5 percent.

Oil refineries There are three major companies for the liquidation of oil in Iraq: the southern provinces of Basra Refineries Company, Maysan , north of Mosul Refineries Company, Salah al - Din, the center of Baghdad Refineries Company, Hilla ..

oil fields are concentrated Iraqi oil fields in the south, as a field , Rumaila and Pod, Zubair and mad all in Basra province.

South 's share is estimated B95 percent of Iraqi oil , which is exported abroad in 2014.

Foreign companies operating in Iraq , more than 20 foreign companies under license from the Iraqi Oil Ministry.

The most important of these companies: ExxonMobil , American, Russian Gazprom, France 's Total, Kogas Alchorah.ak.

Workers in the oil runs in the Iraqi oil fields nearly 24 thousand people, 71 percent of them Iraqis.

Importing countries India is the first importer of Iraqi oil by about 19 percent.

Followed by China ahead of a very simple, then South Korea.

These three countries import half of Iraq 's oil exports.

In contrast , the proportion of Europe does not exceed 26 percent, and the United States 7 percent.

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