Iraq plans to increase its exports to 3.5 million barrels per day
/Reuters Baghdad-run press
The oil Ministry announced Wednesday, rising production of dry gas and liquid to more than 6000 mkomk daily, stressing that security and economic challenges won't stand in the way of achieving the goals that serve the oil and gas industry, with preliminary information showed oil download Iraq's determination to promote exports South fields during June to three million and 470 million barrels.
He said the oil Ministry Undersecretary Hamid Yunis gas industry affairs in a statement "term, received a copy of it, that" the national production of gas has risen thanks to the optimization of gas ", noting that" dry gas production rose to mkomk at 1100 today and high liquid gas to 5000 mkomk.
Yunus said that "what has been achieved in this sector comes thanks to the ambitious plans for the Ministry in optimization of associated gas to oil operations of oil fields."
Yunus noted that "increasing production will be reflected positively on the economic and industrial realities and provides significant revenue to the federal Treasury by employing scorched energy conversion to useful energy and export the surplus abroad", adding that "security and economic challenges won't turn on or impediment to achieve goals that serve the oil and gas industry."
The oil Ministry announced Wednesday (10 February 2016), opening the first phase of investment associated gas from oil 70 card insane field million cubic meters per day, indicating low burn associated gas to 45%.
Oil Minister Adel Abdul Mahdi, has announced that the Basra gas company founded 2012 these days preparing for exporting in excess of domestic consumption of natural gas, liquid gas, thus entering Iraq for first time incrementally and sustainable gas exporting countries Club.
According to initial estimates that Iraq possessed stockpiles estimated 112 trillion cubic feet of gas, but 700 million cubic feet of it was burning day and wasted because of lack of infrastructure. Iraq and the eleventh ranked among the world's rich countries with natural gas after Russia and Iran, both Qatar and Saudi Arabia, UAE, Venezuela, Nigeria and America and Algeria, with proven reserves some 112 trillion cubic feet.
With preliminary information showed a loader oil Wednesday, Iraq's intention to promote exports South fields, during June, three million and 470 million barrels, more than a hundred thousand barrels, the standard rate during November 2015, from Basra crude, indicating that it might jeopardize the disparate divisions so raw for Asian market price pressures.
Reuters said the report followed (range) that "Iraq's oil exports in June, will see noticeable increase on average in may, Iraq will present about 3 million and 470 million barrels," normally "on those disparate groupings: overexposed increase ore price pressures in Basra to the Asian market.
The Agency said that "raw Basra light and heavy selling in most current 2016, competitive bids at a rate of one dollar less than the official price in the Asian market, boosted by growing demand from Asian countries and the United States."
Reuters said that "most of the increase will be heavy Basra crude expected during June, 900, 000 barrels per day rate," saying that "higher than current production rate, the Decree may 645 thousand barrels."
The Agency predicted that crude production stands "Basra lightweight next June, when two million and 570 million barrels," she continued, "that would be a bit more than the current production rate may, aged 2 to 440, 000 barrels.
And the oil Ministry spokesman, Asim Jihad, confirmed in a statement, (2 may 2016), (long press) a copy, that exports last April, unprecedented record export rise in daily rates from southern ports with three million and 364 thousand barrels per day.
Reuters revealed, identifying the Iranian oil Ministry official sale price discount percentage of heavy crude oil source to the Asian market worth $ 1.60 a barrel, as she had the largest discount rate by Tehran against Saudi oil since 2007, stressed that the measure would raise competition in the possession of the largest export to Asian markets. Roters said that "Iran has introduced a discount rate on the official selling prices for heavy oil for export to the Asian market, for next June", stating that "the largest percentage deduction Iraqi crude prices and Saudi Arabia since 2007.
The Reuters report said that "Iranian crude for June will discount rate 1.60 dollars per barrel, lower than the average price of Oman ore/Dubai", noting that "this price is less than the price of Saudi crude at 30 cents, and crude oil from Basra lightweight before 20 cents which will raise the rate of competition for the largest share of export in the market."
Mentions that Iran conducts its rough prices shuffled the official Asian market with the beginning of each chapter after negotiating with clients, this year three changes to its rough prices for both March and April and June.
Oil prices fell on Wednesday amid expectations of a gradual increase in oil production in Canada after Sandy some production because of forest fires there while the markets under pressure due to crude stocks standard particularly in the United States.
Prices were also affected by the battle between Middle East crude producers market share in Asia, which overwhelmed the effect of lower production and some crashes around the world.
Global measurement was traded Brent crude futures priced at $ 45.44 a barrel by 0702 GMT, down eight cents from its price when the former settlement while the futures fell to us WTI 16 cents to 44.51 dollars a barrel.
No Bank said. "the increase recorded by z prices recently" curb ebbing fears of further disruption of production in Canada at the time the producers to return to operations. "
Oil companies began sanding in Fort McMurray Energy Center in Canada to resume operations on Tuesday after he was forced to stop production for a week because of a forest fire out of control.
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