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Welcome to the Neno's Place!

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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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Iraq is the focus of the next OPEC meeting competition on the WIPO Secretariat to increase its produ

Hkp1
Hkp1
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Posts : 3118
Join date : 2012-12-19

Iraq is the focus of the next OPEC meeting competition on the WIPO Secretariat to increase its produ Empty Iraq is the focus of the next OPEC meeting competition on the WIPO Secretariat to increase its produ

Post by Hkp1 Sun 02 Jun 2013, 4:59 pm

Iraq is the focus of the next OPEC meeting competition on the WIPO Secretariat to increase its production



Author: HAA
Editor: BK, NK
2013/06/30 17: 19


Range/Baghdad

Expect
a British newspaper specializing in Economic Affairs, said Thursday
that the Iraq focus of the next meeting of the Organization of petroleum
exporting countries OPEC, his be or become poor to a number of reasons,
including the competition for the position of the Secretariat of the
Organization, being the second largest oil producer in OPEC and "direct
competitor" in market share with Saudi Arabia.

She said the
British Financial Times newspaper The Financial Times in an article
published today, and seen (range), that "observers expect that the
ministerial meeting quarterly 136 to OPEC, which is to be held in
Vienna, Austria, on Friday (31 May 2013), to keep official production
ceilings rates as it is when the 30 million barrels a day more than is
meet for speeches", however in the absence of the words "competitive but
OPEC mask controversy domestically bubbling for two that will formulate
The nature of the Organization for years. "

It added, "the first
issue on the response to rising oil production capacity within the
cartel agreed production ceiling, and the second concerning the election
of the new Secretary-General of the Organization," adding that "these
two Center alahatdamine one is Iraq."

Alvainnanshial times quoted
an ancient observers of OPEC expected that this meeting will lead to a
formal decision is final but Iraq behind the scenes is the only issue
that attracts attention, "adding that" Iraq had formally excluded from
the OPEC production ceiling since the outbreak of the first Gulf war
(1990-1991) but with higher rates of oil production became difficult to
ignore ".

The British newspaper said that "Iraq produced rates
that exceed three million barrels a day, is currently the second largest
OPEC oil producer and is also in direct competition with Saudi Arabic
market share amid the rapid growth of the Asian market", noting that
"Baghdad Basra light crude oil has offered discount prices of up to $ 1
for Saudi oil average in recent months."

The paper said that
"Iraq is forced to make a discount in the price of primary products to
compete with other types of oil as a result of the rapid expansion of
production", the "Riyadh expressed concern the pricing strategy of its
neighbour, in addition to competing on the Asian oil market, there is a
long-standing political rivalries between the two countries."

And
thousands of times, saying that "on the other hand, the urgent need to
return to the production quotas has declined somewhat because the
President is not Iraq could rapidly increase production as had been
hoped, which will enable the market to absorb the increased OPEC without
sharp fall in prices."

The paper quoted one OPEC delegations as
saying that Riyadh and Baghdad "not to hurry to settle their positions,"
adding that "growing demand consumes all the production of heavy oil
and light oil.

British alhaifa, asserts that with the
"International Energy Agency forecast to double oil production to six
million bpd by 2020, OPEC watchers say that any deal between Saudi
Arabia and Iraq are just a matter of time."

Although the British
Financial Times newspaper, that "the other outstanding issue with the
meeting was the successor Abdullah Al Badri as Secretary General of the
Organization, stating that" the Libyan man sabeini, extended the period
of unusually post at the end of its three years in Office last year,
after the Member has failed to agree on the election of his successor.

The
newspaper noted that "Saudi Arabia and Iran may forward their
candidates who did not receive the consent of each other, the third
candidate, is an Iraqi, he also seems to be unacceptable to Saudi Arabia
due to the existing differences between Riyadh and Baghdad", likely to
lead to a decision to extend the lifetime of Badri in Office. "

Iraqi
Cabinet announced in (6th of March past 2012), on the nomination of the
Chief Advisor of the General Secretariat of the Council, thamir,
officially for the post of Secretary General of the Organization of
petroleum exporting countries OPEC.

He was a member of the
Advisory Committee to the Prime Minister for Economic Affairs, mashat,
said in his speech during the Iraqi Energy Conference, held in the UAE
capital Abu Dhabi, (23 May 2013), that Iraq seeks to achieve a target
production of 10 million barrels per day by 2017.

And Iraqi
Deputy Prime Minister for Energy Affairs Hussein Al-Shahristani, in (18
December past 2012), that Iraq looks forward to 2017 to reach production
capacity of College at a rate of 9-10 million barrels of oil a day,
while according to the International Energy Agency that Iraq will
produce six million barrels of oil a day by 2020, it will not reach the
level of production of eight million barrels per day by the year 2035.

And
the Organization of the petroleum exporting countries Organization of
the Petroleum Exporting Countries known by OPEC, the 12-nation world
Organization depend on oil exports heavily to her. And abbreviated its
name to OPEC and OPEC members to increase revenues from selling oil on
the world market, and the Member States of this organization, 40 percent
of global output and 70 percent of the world's oil. Founded in Baghdad
in 1960, by Saudi Arabia, Iran, Iraq, Kuwait and Venezuela, based in
Vienna.

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