Jeweler: Iraq needs to increase its oil production

by **Rocky** Fri 14 Dec 2018, 6:31 am

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Post n°1

Jeweler: Iraq needs to increase its oil production

by Rocky Fri 14 Dec 2018, 6:31 am

Jeweler: Iraq needs to increase its oil production

11:44 - 14/12/2018

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Information / Baghdad ..

Oil expert Hamza al-Jawahri said on Friday that Iraq has achieved internal self-sufficiency of oil and its derivatives, noting that the increase of the oil produced is not sufficient to reach the specified figure of OPEC oil, where Iraq needs 700 thousand barrels to reach 4 million and 600 thousand barrels.

"Iraq should produce 4 million and 600 thousand barrels of oil, and the increase in one of the oil fields does not link Iraq to the figure mentioned, as the oil produced is still less than planned," Jawahri said in a statement.

He added that "Iraq is exporting daily about 3 million and 400 thousand barrels of oil through Basra, and 500 thousand barrels through Kurdistan, and therefore Iraq still needs 700 thousand barrels to reach the planned figure in OPEC."

He pointed out that "the remaining source of oil, which is used in domestic consumption, through the introduction of refineries deployed in the country, especially Baiji, which produces 70 thousand barrels, and more than seven refineries are working on refining oil, where Iraq achieved internal sufficiency of oil.

"Iraq can open new ports for the export of oil other than Basra and Kurdistan, where there is a project underway to export oil through Jordan. However, all export oil projects need time of up to five years," he said. End 25 n

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by **Proven** Fri 14 Dec 2018, 6:41 am

Proven

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Post n°2

Re: Jeweler: Iraq needs to increase its oil production

by Proven Fri 14 Dec 2018, 6:41 am

Thanks Rocky.

Becoming a net export country. Here is an important statement:

He pointed out that "the remaining source of oil, which is used in domestic consumption, through the introduction of refineries deployed in the country, especially Baiji, which produces 70 thousand barrels, and more than seven refineries are working on refining oil, where Iraq achieved internal sufficiency of oil.