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[size=38]An Economist Explains The Extent To Which Iraq Is Able To Compensate For Russia's Share Of Oil
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LAST UPDATE 03/08/2022 | 9:09 AM
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The Information/Baghdad...
The economic expert, Mustafa Akram Hantoush, explained that Iraq can contribute to compensating Russia's share of oil in the event of imposing sanctions on its oil exports, pointing out that Iraq has surplus quantities ready for export through licensing round companies.
Hantoush told Al-Maalouma, "Iraq has ready surplus oil reserves of about 600,000 barrels, and licensing round companies can raise the capabilities of the fields and Iraq's production on a daily basis according to the mentioned quantity."
He added that "the amount of 600,000 barrels can be produced and exported within a period of two weeks to a month, in order to compensate for Russia's share in the event of imposing sanctions on its oil exports."
And he indicated that "Iraq has entered the stage of water export through the Gulf, and it is possible to enter the mentioned quantity and export it with the quantities that are exported on a daily basis," noting that "the licensing round companies have the ability to produce this quantity, but this matter will be somewhat expensive, and therefore there is a need to develop the fields oil.”
He explained that "the licensing round companies were supposed to reach production to 14 million barrels per day, but there are some obstacles that prevent this, and therefore Iraq currently needs to reach a production capacity of 10 million barrels per day." finished 25
The economic expert, Mustafa Akram Hantoush, explained that Iraq can contribute to compensating Russia's share of oil in the event of imposing sanctions on its oil exports, pointing out that Iraq has surplus quantities ready for export through licensing round companies.
Hantoush told Al-Maalouma, "Iraq has ready surplus oil reserves of about 600,000 barrels, and licensing round companies can raise the capabilities of the fields and Iraq's production on a daily basis according to the mentioned quantity."
He added that "the amount of 600,000 barrels can be produced and exported within a period of two weeks to a month, in order to compensate for Russia's share in the event of imposing sanctions on its oil exports."
And he indicated that "Iraq has entered the stage of water export through the Gulf, and it is possible to enter the mentioned quantity and export it with the quantities that are exported on a daily basis," noting that "the licensing round companies have the ability to produce this quantity, but this matter will be somewhat expensive, and therefore there is a need to develop the fields oil.”
He explained that "the licensing round companies were supposed to reach production to 14 million barrels per day, but there are some obstacles that prevent this, and therefore Iraq currently needs to reach a production capacity of 10 million barrels per day." finished 25
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