An international expert is likely to return Iran to the role of pivotal competitor

7/28/2015 0:00

Holds 158 billion barrels of reserve oil

BAGHDAD - Hussein al-Tamimi Tgb
expect the international energy expert Mustafa Abdul-Hussein reshape the world oil market after the nuclear deal between the countries 5 +1 and Iran, where it has the fourth reserve globally than conventional oil conventional (about 158 billion barrels), including enough to supply China with crude oil for more than 40 years, according to expert opinion, which will allow it to remove restrictions on the export back during the next six months when preparing the technical and legal conditions for it.

He said in an interview for the "morning" that many countries such as India and China are looking Iranian crude a good Specifications as well as South Africa to import quotas, and the companies Khlmbd, Total and Eni announced its desire to invest.

Abdul-Hussein said that Iran is currently producing 2.8 million barrels / day and can be issued would amount to 1.1 million barrels of them, and speak the official authorities of Iran about the possibility of an increase of $ 500 thousand barrel, and this requires large IT technical operations of the latest to revive the fields and wells, which stopped because of the productive health, and the need for 50-100 billion dollars to invest in the sector through Ready to enter international companies.

He pointed to the predictability positively that Iran succeeded in obtaining Energy Organization approval International Atomic in the month of December of this year, as ordinary conference of the OPEC to be held in the same month, reflecting the importance of this month in the fate of the Iranian oil industry report, in light of the competition between the rivals traditional two Saudi and Iranian and so if returned to Iran the ability to impose a degree of role the pivotal rival traditional deductible, which is still controlled by mechanisms balance between supply and demand to leave the price at face value despite the glut overlying the market these days.

And Abdel-Hussein said Iran currently has 30-40 million barrels loaded in tankers ready for export, most of Iranian crude and flows towards the Asia-class first and then Europe, and is trying to return to normal when the Producers others such as Saudi Arabia, Kuwait and even Iraq to compensate the lost share because of the sanctions. Note that Iran's share of OPEC basket was 4 million barrels a day, and then I went back the second product after Saudi Arabia in the 12 countries comprising the Anizh.utaba saying to reconsider Iran life to the oil industry needs to overcome some internal bureaucratic obstacles and not only obtaining regulatory approvals to it, and which can be referred to the existence of a strong federal political interests linking Russia which is one of the countries competition for the members of OPEC, but this does not negate the convergence on the subject of removal of sanctions as well as there is a meeting may be held soon between the Organization and Russia to study the reality of the market and understand the variables.

The remaining competition for the most among Type conventional crude and oil shale American who passes is the other conditions unenviable with further deterioration in prices, which reduces the US supply and reduces the chances of return numbers drilling to increase the platforms, this is being done and continues to price instability leads the interface market which is almost a gradual reduction to be a feature of him and on the basis of the growing glut expectations, where Pat predict bypass edge of $ 60 per barrel (as it was the International Energy Agency forecast) is difficult in light of strengthening the principle of uncertainty for institutions, research centers and expectation in energy affairs.

Talking about the return of Iran to produce up to 6 million barrels per day as it was on the eve of the pre-Islamic revolution and during the year 2020 the same year the figure set by the International Energy Agency to Iraq for the development of power plants which is shrouded in much uncertainty for several reasons, the most important of the nature of the contracts entered into by the international companies that were the nature of the partnership or service ( As is prevalent in Iraq), as well as the emphasis on old fields unexplored developed, called Brown Fields or explored undeveloped Green Fields or new projects, and the extent of dumping, which will be the market presence of competitors dream of covering the deficit in their budgets, as is the case with Iraq and Libya (if hit a measure of stability), as well as the continuing threat of re-imposition of sanctions by the United States and its allies such as Israel of pay and Saudi Arabia, if not (comply)! Materials nuclear deal as they used to say, as well as the expected low volume of investments, which definitely will not carry out the aspirations of the Iranian state to reach more than 4.5 million barrels per day during that year (the same as the number that monitored by the agency mentioned previously for the case of the lag in achievement that may infect Iraq if youve its obligations artistic strict as stated in its forthcoming which was released in 2012).

He concluded by saying in all Sagnah seems to be the global market image does not have the clarity that makes us grew detail to the presence of more than one player head aspires to dominate, but the degree of awareness of international balance between producers and consumers could create the appropriate atmosphere for stability benefit everyone away from the subtle policy and plans that may not bring some good for the Nations of the globe.