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’s Oil Reserves May Be Much Higher Than Thought

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277102
    Join date : 2012-12-21
    • Post n°1

    Iraq’s Oil Reserves May Be Much Higher Than Thought Empty Iraq’s Oil Reserves May Be Much Higher Than Thought

    Post by Rocky Fri 30 Mar 2018, 2:22 am

    [size=56]Iraq’s Oil Reserves May Be Much Higher Than Thought[/size]
    By [You must be registered and logged in to see this link.] - Mar 29, 2018, 6:00 PM CDT[You must be registered and logged in to see this image.]
    Iraq’s crude oil reserves may turn out to be much higher than believed, the country’s oil minister Jabar al-Luaibi [You must be registered and logged in to see this link.] at a recent industry event, timing the statement with news that it will pay foreign companies less in new contracts.
    Last year, Iraq updated the estimate for its proven reserves to 153 billion barrels from 143 billion barrels, but if Luaibi is right, the figure could actually be double the 2017 estimate.
    If the higher estimate proves true, it would make Iraq the largest oil-rich country in the world, ahead of Venezuela, which claims its reserves are just above 300 billion barrels, and also ahead of Saudi Arabia, with [You must be registered and logged in to see this link.].

    Al-Luaibi’s remarks on the reserve estimates come amid preparations for the next oil [You must be registered and logged in to see this link.] in the country, which is to take place next week and offer 11 exploration blocks to foreign companies.
    A total 15 companies have expressed interest in bidding for the blocks in eastern and southern Iraq as the country seeks to increase its production capacity to over 5 million bpd from the current 4.35 million bpd.
    But it also comes as Baghdad says it will [You must be registered and logged in to see this link.] from the revenue of foreign oil companies in new contracts that should be awarded in June. The end result will be reduced productive fees for foreign companies.

    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat 07 Sep 2024, 6:54 pm