UN Report: Iraq is becoming a new superpower of the oil
Thursday, 10 October / 2 November 2011 23:06

[Baghdad - where]
A report prepared by an important and specialized agencies of the United Nations: "Iraq is on its way to becoming a great power of the new oil."

Has prepared this report, obtained a copy of each agency and Iraq [where] a unit of information and analysis of inter-agency (IAU) and the United Nations Development Programme (UNDP) which analyzes oil and gas sector in Iraq.

The report confirmed that the oil reserves in Iraq, which number up to 143 billion barrels in addition to the possible existence of 200 billion barrels puts Iraq among a small group of countries that have a high potential for oil production and to influence global oil markets.

The report said "will remain the possibility of growth and prosperity and create jobs in other non-oil sectors is limited to be no real effort to diversify the economy and the transfer of oil export revenues to the private sector."

The report noted that Iraq's vast reserves of gas and is currently utilized as necessary will be harnessed to support the production of local power.

The report said the oil industry controls the Iraqi economy as it contributed to the estimated 60% of GDP and in the amount of 99% of exports and more than 90% of government income. The higher rates of production and export of oil has increased its control over the economy, and thus increased government revenue from it.

The report noted that Iraq has 143 billion barrels of proven oil reserves have been identified as 200 billion barrels could be extracted from the other. Based on current plans for oil development, will lead the forces of Iraq's vast oil can influence the global markets, noting that two-thirds oil and gas reserves located in the south and the other third in the north.

The report statistical says that Iraq is producing 2.6 million barrels of crude oil per day are exported 2 million barrels per day refinery and 400 thousand barrels and the use of 70 thousand barrels of fuel to generate electricity is also imported and Iraq 200-150 thousand barrels per day of refined fuel, used in electricity generation and transport land.

The report predicted that the rising level of oil production to approximately 4 to 5 million barrels per day by 2016 to 2017. If oil production continues in this way, the proven oil reserves would be sufficient for 70-90 years.

In terms of prices, said Altgarirama barrel of oil price remains $ 100, the government revenue for 2011, estimated at about 75-80 billion U.S. dollars will double to around 150-160 billion U.S. dollars by 2016

And around the reserve Algaszew Iraq report said the rate of reliable reserve of gas of about 3100 equivalent to about 15 billion barrels, standard cubic meters of oil, but it is still a reserve of this gas is not used properly.

The report noted the impact of increased production Altaft and gas on the lives of the Iraqi individual and said that 23% of Iraqis live below the poverty line, where the expense of the individual 2.2 U.S. dollars a day, so there is a need for more employment opportunities for poverty alleviation. The conversion of the stellar returns of the oil exports to the Government of Iraq, accounting for 90% of government revenue, so the government does not rely heavily on revenue from taxes, thus easing the citizens.

The report finds that the expansion in the refining of oil will create new jobs. He can not Aattabaraa˙dat oil Musdrdechl they are just normal, as realized through the exploitation of natural resources subject to access must be maintained on the part of it for future generations,

In the part of the report, he could allocate a portion of Aloaradt to be distributed directly to the population, it was possible to control the management of such a system well, it will be possible to control the negative aspects of other Kaltdkhm.

The report said that the government can offer higher wages and salaries from the private sector, which makes the desire to work in the private sector are lower than those in the public sector. And increases the rate of family income, which operates one of its members in the public sector by 14% for the family that does not work any of their members in the public sector.

The report spoke of the gas and the promise of a better choice for the production of electricity because it is cheaper than the others, as he is a friend of the environment, plus it can export the gas in the future.