Established in 2006 as a Community of Reality

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


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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

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Established in 2006 as a Community of Reality

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


    Progress has slowed this year due to problems related to infrastructure and security as well as the

    Rocky
    Rocky
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    Posts : 270948
    Join date : 2012-12-21

    Progress has slowed this year due to problems related to infrastructure and security as well as the  Empty Progress has slowed this year due to problems related to infrastructure and security as well as the

    Post by Rocky Wed 20 Nov 2013, 11:47 am

    Progress has slowed this year due to problems related to infrastructure and security as well as the dispute between Baghdad and the Kurdistan region.



    BAGHDAD / obelisk: expected to check the oil industry in Iraq modest growth in 2014 and for the second year in a row at a time, which restricts work in the major ports while exports pay routine procedures and acts of violence, some oil companies to defer projects.

    After decades of war and sanctions began producing oil in Iraq's second-largest crude producer in the Organization of Petroleum Exporting recover quickly in 2010 after the country entered into deals with major international oil companies to exploit oil fields in the south.

    And pushed the major companies such as BP. BP and Exxon Mobil Iraq's production to rise by 600 thousand barrels per day to more than three million barrels per day in 2012.

    But progress has slowed down this year due to problems related to infrastructure and security as well as the dispute between Baghdad and the Kurdistan region. The production is facing difficulties to more than three million barrels per day on a sustainable basis, compared with a target level at the end of 2013 of 3.5 million barrels per day.

    And Russia's Gazprom Neft delayed the start of production from the Badra field in Iraq until next year, citing, inter alia, the Iraqi authorities delay in approval of the bids and the failure of some contractors obligations and issues related to the security and safety of personnel and property.

    Iraq has exported so far in November 2.1 million barrels per day from South مرافئه and about 300 thousand barrels per day of Kirkuk crude from the north, according to the navigational data and sources in the oil industry. This comes up from 150 thousand barrels per day in October.

    However, this growth is likely to slow during the first quarter of 2014 which put business that is implemented in the ports limit to the number of exports from the southern fields at 2.3 million barrels per day, and exports reached in August / registered their highest levels in decades.

    Said a senior Western executive in the oil industry who asked not to be named "because of those long-term restrictions on exports will be production growth (short-term) is almost impossible."

    And another senior official said, "there will be no improvement in the machining of infrastructure for export in the short term."

    It was not possible to get immediate comment from Iraqi officials on the outlook for production and exports.

    Officials said they expect a return to growth in 2014, with an increase of 500 thousand barrels per day paid to the average production of 3.5 million barrels per day, which provides 2.9 million barrels per day for export.

    Dealers do not see Iraqi crude also remember connotations to a significant growth in exports in the next few months.

    The trader said, "They always expect a huge increase., But I think that 2014 will be like 2013 and maybe a little better."

    When completed expansions ports in southern Iraq in mid-2014 will allow a freely export capacity of four million barrels per day. And completed a large part of the work last month.

    And oil sources said that one of the four floating oil platforms in the oil port of Basra, are expected to remain permanently out of service until the end of 2013. May extend the final phase of work, which includes linking two Aaúmtin platforms port of loading until March.

    And prompted delays in ports south exports to decline to 1.8 million barrels per day in September / registered its lowest level in 19 months, but shipments rose in October / October is still on its way to rise in November.

    Besides the maintenance work, the problem of storage continues to be a bottleneck in the south. The increased storage capacity to about seven million barrels but they are still very low, according to industry sources.

    When you stop exports of Basra Light crude or less also will have to sharply cut production. This happened earlier this month when bad weather led to the closure of the Rumaila field operated by me. Me and other fields for a brief period.

    The Rumaila pumps about 1.4 million barrels per day, more than a third of Iraq's total production.

    For the next year, officials expect a significant increase in production from the southern fields, including the Majnoon field, which is operated by Royal Dutch Shell.

    Sources in the oil industry that the Majnoon field now produces more than 200 thousand barrels per day, although it was not immediately clear the size of the increase will be able to achieve in light of the maintenance work and the small storage capacity. 

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