10 facts about Iraqi oil


22/04/2017-14:12


Economy news Baghdad:


Oil is the economic mainstay in Iraq. Is the primary source of financial returns. Running thousands of Iraqis, and contributes a third of GDP. Since the start of production in 1934, Iraq relies on oil. Following are the most important facts and statistics about this vital sector in Iraq.

ProductionIraq is the second biggest oil producer within the Organization of petroleum exporting countries (OPEC) after Saudi Arabia.

By 2015 the production rate of 4.1 million barrels per day. In the year 2016 exceeded 4.6 million barrels in some months.

The Iraqi oil Ministry expects to keep this sector rise, to pierce the ceiling of five million bpd by the second half of the year 2017.


Reserve
Iraq his fifth largest oil reserves in the world after Canada, Saudi Arabia, Venezuela and Iran. An Arab, is the second after Saudi Arabia. Iraq reserves b 143 billion barrels, representing about 11 percent of world reserves.Financial returnsIraq depends on oil revenues.

In 2014, oil export revenues accounted for 93 percent of the total resources of the Iraqi Government.

The oil also contributes to 33.1 percent of GDP.
ConsumptionConsumes Iraq, according to the year 2015, about 770, 000 barrels (internal consumption).

ExportIraqi exports combined 2015 to 54.667 billion dollars, including 54.394 billion dollars for the oil exports only, equivalent to 99.5 percent.Oil refineries


There are three major companies to filter oil in Iraq:

The South refineries company (provinces of Basra, Misan.), Indochine (Mosul, Salahuddin..) , Midfielders refineries company (Baghdad, Hilla.).
Oil fields.

Iraqi oil fields are concentrated in the South, like Rumaila and Zubair, Qurna and crazy all in Basra.

The South's share is estimated at 95 percent of Iraqi oil exported out 2014.

Foreign companiesWorking in Iraq more than 20 foreign company under license from the Iraqi oil Ministry.



Most of these companies:

ExxonMobil, gas Russian Brougham, Qapco, Korean koghaz. Etc.
Oil workersWork in Iraqi oil fields approximately 24 000 people, 71 percent of them Iraqis.

The importing States
India is the first importer of Iraqi oil by about 19 percent.

Followed by China with nuance, and South Korea. These three States imports half of Iraqi oil exports. In contrast, only 26 percent, Europe and the United States of America 7 percent.

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