Iraqi Oil: the proceeds of licensing rounds for the current year amounted to $ 10 billion
09/11/2011 09:28

Baghdad, November 9 (Rn) - The Iraqi Oil Ministry, said the financial returns to Iraq from behind the licensing rounds for 2011 amounted to $ 10 billion.

The general director of the Oil Marketing Company (SOMO), Falah al-Amiri told the Kurdish news agency (Rn) that "Iraq's financial revenues due to high export thanks to the first licensing round and the second $10 billion in 2011."

He added that "Iraq is entering the quota in OPEC when it reaches production in the next two years to 4 and a half million barrels per day, so does not affect world prices for oil," noting that "Iraq is seeking to raise the export during the next year to 3.2 million barrels per day, an appropriate and consistent controls with OPEC. "

The oil ministry has declared the month of September / September last year that crude oil inventories in the country has 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil.

Plans to increase Iraq's oil exports during the next six years to 12 million barrels per day after obtaining the approval of the world's oil (OPEC).

The OPEC basket includes 12 types of crude oil is a mixture Algerian Sahara and Girassol Alanjuliu Iranian Heavy, Basra Light Iraqi and Kuwaiti crude export lotus Allibaopponi light Nigerian crude Qatar Marine, Arab Light Saudi Arabia and the UAE Murban and Mary and the Venezuelan Orient of Ecuador.