Escalation of oil export capacity is a positive step
Escalation of oil export capacity is a positive step On: Tuesday 02/14/2012 23:18
The opening of the floating harbor for the export of Iraqi crude oil in the waters of the Gulf on Tuesday as an important positive step in terms of the oil industry in Iraq, and was able to lead the oil sector to remedy negative implications due to weak export capacity, which led to foot-dragging productivity plans in recent months. Since October of last year Iraq has become a production capacity of close to three million barrels per day due to improved production in the fields of Rumaila and West Qurna, in addition to the increased production of the field of 200-300 thousand barrels per day of additional fields in the south during the past months, estimated revenues of about $ 3 billion. Operation of the harbor Floating card 800-900 thousand barrels in the coming days, will open the way for foreign companies to move ahead with production plans to increase production and will be able to Iraq to increase its oil exports,which pledged the Ministry of Oil to bring it to rates of approximately 2.6 million barrels per day this year to achieve the revenue planned and required in the budget of 2012 was running the port floating matter to refute media reports that have been circulating in recent days by some experts that indicated the presence of pressures of Iranian political leadership of oil to delay its opening, it is clear that the delay that has occurred on the dates of operation thereof was the rationale for the art not only .
And moving plans and the Oil Ministry to increase the export capacity in the south to the bites of about 5 million barrels per day to accommodate the projected increases over the next three years, and perhaps today more aware of the risks of this strategy based on expanding exports through the Gulf as a gateway essential for the production of the southern fields.
Political tensions in the Gulf region between Onah and called some of the other Gulf states to plan in earnest to look for other alternatives to export.
And Iraq for political and economic reasons are supposed to take into account the strategy of multiple outlets, especially towards the Mediterranean.
Therefore, establishment of a new strategic tube has the flexibility to transport crude oil from fields in the south to the Mediterranean has become a necessity.
The preferred option is that the proposed oil pipeline through Syria, regardless of whether the Syrian arena of political repercussions.
And that the proposed pipeline has the flexibility to move production of the northern fields.
This option does not exempt us from the rehabilitation of the carrier tube to produce fields of Kirkuk and the Kurdistan region through the Turkish port of Ceyhan.
In the face of the Oil Ministry the task of continuing the negotiations with the Kingdom of Saudi Arabia to restore the pipe work that has been established at the end of eighties and the efforts of the Iraqi funds and export capacity of up to one million barrels a day and a half through the port of Yanbu on the Red Sea.
Iraq's strength lies in having multiple options for export through the neighboring countries and not to be Iraq's oil production fields, especially Basra, a prisoner of political tensions in a specific region.
To accelerate the implementation of these projects through the investment of the ruling within specific timelines will have Mrdodadtha will contribute to the economic and consolidate common interests with neighboring countries.