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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

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    Iraq "fails" to adhere to its word and raise its oil production for the second month in a row.. What

    Rocky
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    Iraq "fails" to adhere to its word and raise its oil production for the second month in a row.. What Empty Iraq "fails" to adhere to its word and raise its oil production for the second month in a row.. What

    Post by Rocky Sat 09 Mar 2024, 4:20 am

    [size=35][size=35]Iraq "fails" to adhere to its word and raise its oil production for the second month in a row.. What is the relationship with Kurdistan?[/size]
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    Economy

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    03-09-2024 | 03:02
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    Al-Sumaria News - Economy

    For the second month in a row during the current year, Iraq produced more than the ceiling it set for itself within the voluntary reduction for the current year, which is supposed to not exceed 4 million per day.


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    Last January, Iraq produced more than its production ceiling that it set for itself by about 200 thousand barrels per day, as in January it produced 4 million 194 thousand barrels per day.

    After that, Iraqi Oil Minister Hayan Abdul Ghani said that Iraq is committed to its voluntary reduction in the OPEC+ agreement and will not produce more than 4 million barrels per day of crude oil.



    Abdul Ghani said that Baghdad will review its oil production and will address any increases that exceed its commitment to the production adjustments agreed upon with OPEC Plus in the next four months.

    But what happened in February was that production was increased more than the January rate, as production rose from 4 million and 194 thousand barrels per day in January, to 4 million and 270 thousand barrels per day, that is, an increase of an additional 76 thousand barrels per day, contrary to the words of the minister who promised. Reviewing production and processing increases.


    It appears that the problem of Iraq's non-commitment to reducing production is caused by oil production in Kurdistan without a clear ceiling for Baghdad, while earlier reports indicated that Baghdad called on the Kurdistan Regional Government to curb oil production to help Baghdad adhere to its production quota within the framework of the "OPEC+" agreement. .

    In December, Iraq produced 100,000 barrels more than its production share, and now during the current year Iraq has begun producing 250,000 barrels more than its share, amid expectations that these increases will come from the Kurdistan region.

    The Norwegian company DNO previously announced that its production in the Tawke field rose to more than 80,000 barrels per day, recovering from the significant decline that struck Kurdistan’s production after exports from the Turkish port of Ceyhan stopped.


    Of the 450,000 barrels per day that Kurdistan produced, its production decreased significantly after stopping the export of oil through the Turkish port of Ceyhan a year ago, specifically in March 2023, until it reached only 50,000 barrels per day, and production began to rise, and it is not known whether it has reached total. To more than 150 thousand barrels per day now, amid the absence of data and secrecy of information by foreign oil companies operating in Kurdistan.
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