Iraq to Triple Oil Exports to 6MM B/D in 10 Years

BAGHDAD (Dow Jones Newswires), November 13, 2008

Iraq aims to triple oil exports to 6 million barrels a day in 10 years, earmarking $2 billion to start increasing capacity, Finance Minister Baqer Jabr Solagh told AFP.

"We are allocating about $2 billion to the oil ministry in the 2009 budget in order to start increasing capacity in this sector," Solagh said in an interview on Wednesday.

"From my view, we need to increase our exports at least to what what they were in the 1980s, when we exported 3.4 million barrels a day," he said.

"Iraq can export maybe after 10 years, 6 million barrels a day."

Current output stands at some 2.4 million barrels a day, of which 2 million barrels a day are exported. 

 Copyright (c) 2008 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Intelligence & Risk Assessment Analyst
Expertise: Legal|Risk Management
Location: San Ramon, CA
Substation Compliance (PRC) Analyst Job
Expertise: Business Analyst|Regulatory Compliance
Location: Denver, CO
Land GIS Spatial Analyst - Mineral Land
Expertise: Contracts Engineer|Geologist|Lease Analyst
Location: Denver, CO
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours