Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq hopes to produce 7 million barrels per day

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 281148
    Join date : 2012-12-21
    • Post n°1

    Iraq hopes to produce 7 million barrels per day Empty Iraq hopes to produce 7 million barrels per day

    Post by Rocky Wed 14 Feb 2018, 1:31 am

    [You must be registered and logged in to see this image.]
    Iraq hopes to produce 7 million barrels per day


     Kuwait / Range - AFP 

    تجارة Kuwait Trade: Conference «Iraq reconstruction» the beginning of the stage of security and development in the region
     
    Iraq's oil minister, Jabbar al-Allaibi, said during his remarks yesterday from Kuwait that Iraq seeks to achieve a significant increase in production capacity to reach 7 million barrels per day by 2022. 
    Iraq now has a production capacity of up to five million barrels per day, but pumps 4.7 million barrels only In accordance with OPEC's cut-off agreement. 
    "Our goal is to reach 7 million barrels per day by 2022," Al-Luaibi said during his presentation of oil and gas projects available to foreign investors from the private sector. 
    Al-Allaibi pointed out that Iraq sits on a lake of proven oil reserves of 145 billion barrels, but he is confident that this figure will jump to 250 billion barrels with the existence of sufficient investments. 
    He said Iraq plans to boost natural gas production capacity to 7 billion cubic feet per day by 2021, up from current 2.7 billion cubic feet.
    The oil minister called on foreign investors to take advantage of huge investment opportunities in the oil and gas sector. The Iraq reconstruction plan requires spending billions of dollars. 
    Al-Luaibi made the remarks during the second day of the Iraq Reconstruction Conference held in Kuwait, where Baghdad hopes to raise $ 88.2 billion in financial pledges. 
    The Oil Minister said that the attacks of an organization in Iraq has led to reducing the production capacity of refineries in the country from 930 thousand barrels per day to 450 thousand barrels only. He pointed out that the reconstruction efforts succeeded in restoring the production capacity to 70 thousand barrels per day. Al-Allaibi revealed plans to build seven new refineries by 2021 with a capacity of 700,000 barrels per day. As well as plans to build new pipelines and export facilities in the south of the country.
    The conference "Invest in Iraq", organized by the Kuwait Chamber of Commerce and Industry (KCCI), was launched on Tuesday at the Kuwait International Conference for the Reconstruction of Iraq. 
    Kuwait Chamber of Commerce and Industry (KCCI) Chairman Ali Al-Ghanim said that the Kuwait International Conference on Iraq Reconstruction is the beginning of the security and development phase in the region. 
    Al-Ghanim said during the opening session of the conference "Invest in Iraq" within the framework of the Kuwait International Conference for the Reconstruction of Iraq, which started in Kuwait yesterday and will continue till tomorrow. Kuwait is not just a new experience that devotes its regional, Arab and international role, But a pioneering and important experience in restoring Arab-Arab relations from the perspective of the future, reconciliation and progress and its requirements.
    Al-Ghanim said that the conference is an investment event, which includes about 1500 companies from 50 countries to see the importance of projects and signs of the reconstruction of a country of the size, status, potential and suffering of Iraq. 
    He pointed out that the companies have been optimistic and enthusiastic to participate in this economic, political and humanitarian opportunity at the same time, recalling the seriousness, efficiency and success of previous experiences of the State of Kuwait in this field. 
    He said that all national, regional and international parties cooperating in organizing this conference know that the second day represents the real economic pulse, especially as it is related to the participation of the international private sector in the ownership and financing of development projects posed by Iraq. He stressed that the participation of the private sector must be larger and far impact And the deeper significance, pointing out that the program today is full of clarification of the nature of the unprecedented guarantees enjoyed by these projects as well as the form of support received by investors.
    The program will also be attended by the Iraqi Prime Minister, the United States Secretary of State, the Iraqi Planning Minister and the Chairman of the Economy and Investment Committee of the Iraqi Parliament. 
    He stressed that the State of Kuwait does not view the Conference as a global development mobilization, but sees it as an Iraqi and regional declaration that the stage of instability and the beginning of the security and development phase in the region have ended. 
    He expressed his hope that Kuwait would host or perhaps host Iraq soon, the Conference on the reconstruction of Syria and the Yemen reconstruction conference.
    Kuwait is qualified to be the main gate for the reconstruction of Iraq due to Kuwait's geographic proximity and social and economic integration, and the use of its infrastructure, the efficiency of the institutional structure, democracy, the judiciary and the banking system. 
    For his part, called the Minister of Planning, Dr. Salman Jumaili in his speech investors to enter the Iraqi market and see the investment opportunities provided by the Iraqi government, which provided guarantees to investors. 
    He said that the Iraqi government has enacted laws that provide guarantees for investment and facilitate their procedures. He stressed that contributing to the reconstruction process through entering Iraqi investments represents a message of love, peace and stability especially that stability of Iraq represents stability for the whole region.
    The conference will discuss the investment environment in Iraq, the reform program and the means of reconstruction, as well as reviewing the opportunities of the private sector through presenting successful investment experiences, the main investment opportunities in Iraq and the role of the International Finance Corporation in this regard. 
    The conference will also look at key investment sectors in Iraq in the fields of oil and gas, transport, industries, real estate, economic zones, energy, agriculture, health and others.





    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat 23 Nov 2024, 7:45 pm