Iraq calls for agencies evaluate its oil production by the OPEC meeting next month

2016/10/5 20:00

[Oan- follow-up]

Iraq is hosting later this month with the entities sold in the evaluation of oil production levels ahead of a meeting of OPEC will increase the hottest issue with members of the organization to compete on production allocations.

He called on Iraq's second-largest oil producer in OPEC, international organizations and media groups assesses its oil production to visit the Iraqi Oil Ministry in Baghdad and possibly the city of Basra, located south of the country.

The Iraqi oil marketing company SOMO] in the invitation letter that the meetings scheduled to be held on 24 and 25 October come "for the purpose of detailed participate in more accurate to Iraq's oil production numbers."

The company added, "During the mentioned meetings will have the opportunity to record the agency you represent in order to obtain circular is expected to meet the needs in the estimation of Iraq's oil production."

The Iraqi oil minister Jabbar Ali Allaibi questioned in one of two ways Taatbahma OPEC to estimate oil production to its members, pointing out that this issue may be a source of trouble for the country to participate in a possible agreement to limit production reached by the organization in Algeria last week.

Detection and Oil Minister Jabbar Ali Allaibi, last Thursday, that Iraq informed Saudi Arabia and Iran rejected the agreement between the oil exporting countries members of the UPC at the level of production of 32.5 million barrels per day, which took place on the sidelines of the meeting of the Global Forum held on 27-28 of last September in Algeria with the participation of Iraq.

And used Organization of Petroleum Exporting Countries [OPEC], which meets on 30 November two sets of figures are estimates of production figures provided by the Member States themselves and the estimated secondary sources, which are usually less.

He said Iraq's oil minister, told reporters that those figures do not reflect the actual production of the country and if not changed by November will not accept Iraq and so will demand alternative solutions.

The estimated secondary sources of Iraq's oil production in August at 4.343 million barrels per day.

But according to figures from OPEC, Iraq's production totaled 4.638 million bpd in August.

The six sources currently used by the Organization of Petroleum Exporting is Kalta Platts and Argus for pricing oil, the International Energy Agency, which is based in Paris and the US Energy Information Administration and the Foundation Advisory Cambridge Energy Research [walk] and newsletter Petroleum Intelligence Weekly.

The spokesman for the Oil Ministry, Assem Jihad told all of Iraq [where], on the fifth of September that "Iraq agreed to freeze its production in any agreement that OPEC amount of 4.775 million barrels," noting that "this figure includes all of Iraq's production, including the Kurdistan region, and if he got a freeze on the basis of this amount. "

Jihad and stressed "We must differentiate between the production, export and production Sndjemd to 4.075 million barrels per day, and if he got an agreement and be exporting 3.6 million barrels, or perhaps a little more."