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


    Oil plans to raise storage capacity instead of exporting... 10% of Iraq's production is "neglected"

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 272603
    Join date : 2012-12-21
    • Post n°1

    Oil plans to raise storage capacity instead of exporting... 10% of Iraq's production is "neglected" Empty Oil plans to raise storage capacity instead of exporting... 10% of Iraq's production is "neglected"

    Post by Rocky Sun 04 Sep 2022, 7:25 am


    [size=30]Oil plans to raise storage capacity instead of exporting... 10% of Iraq's production is "neglected" because it cannot be exported, consumed or stored!

    2022-09-04
    [/size]
    [You must be registered and logged in to see this link.]
    Yes Iraq: Baghdad

    The Ministry of Oil is moving to raise the storage capacity of crude oil in Iraq, in a “secondary” solution to the issue of the deficit difference between the volume of production and export capacity, which amounts to about 30%.
    The Undersecretary of the Ministry of Oil for Liquidation and Distribution Affairs, Hamid Younis, stressed during the meeting, “the ministry’s keenness to develop and modernize the national pipeline network and infrastructure for the oil sector.”
    For his part, the Deputy Director-General in charge of managing the company, Majed Abdel Reda, said that the national staff is working according to pre-prepared plans to develop pipeline networks, rehabilitate those affected by them, lay new pipes and increase storage capacities in their warehouses spread throughout the country to secure fuel for consumers, electric power production stations and vital sectors in service. for the public good.
    Despite the mentioned goals to increase storage capacity in warehouses, the main goal, according to observers, is to find new areas in which to store the extracted oil, which Iraq is unable to export due to its weak export and loading capacity in export outlets.
    Iraq's production share of oil has exceeded 4.6 million barrels per day, while the production of Kurdistan, with Iraq's internal consumption, is estimated to be nearly 900,000 barrels per day, which means that here 3.7 million barrels per day must be exported by Iraq.
    However, Iraq cannot export more than 3.3 million barrels per day due to the limited export and loading capacity in the export outlets, which makes about 400,000 barrels per day a “surplus” that Iraq does not know where to go with, and it has no choice but to build more storage warehouses to store these quantities, which are equivalent to approximately 10% of Iraq's oil production.
    Instead of the Ministry of Oil working on developing export outlets, to raise the oil export capacity and bring in about 40 million additional dollars per day, the ministry chooses to develop the storage capacity to store the 400,000 barrels per day.
    Or the ministry “reduces production” because it does not have sufficient storage areas and cannot export these quantities. Therefore, the ministry sometimes intends not to achieve full production, according to experts, and keeps 10% of the production capacity without exploitation.
    While the storage capacity in Iraq is 9.5 million barrels per day, while it is currently filled with 6.8 million barrels per day, which means that there is only a void for Iraq for only 2.7 million barrels, which will lead to the full filling of the tanks within only 6 days, so it deliberately Oil will not be able to extract the full production capacity and will keep 400,000 barrels per day underground instead of extracting it.
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Wed 26 Jun 2024, 7:31 am