Iraq Oil Reserves Increase
Iraq Oil Reserves Increase

Iraq Oil Reserves Increase

Iraq Oil Reserves Increase

Iraq's oil reserves have increased to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabal al-Luaibi said on Sunday. Iraq will ask the Organization of Petroleum Exporting Countries to adopt the new figure as the official estimate for its reserves, he also said in a statement, Reuters reported. The increased estimate is the result of appraisals and exploration carried out at seven oil fields in central and southern Iraq, he said. The minister has urged oil and natural gas producers operating in the country to continue increasing output. Foreign companies' oil output targets "should be reached within the assigned periods," the ministry quoted Luaibi as saying. The ministry also aims to increase gas output by adding 350 to 450 million cubic feet a day to the nation's production in 2017, Luaibi said. Natural gas output levels in Iraq's southern region are tied to crude production levels as the two are produced from the same reservoirs.


Short URL : https://goo.gl/yWHX5p
  1. https://goo.gl/kbW8qF
  • https://goo.gl/sH7sYk
  • https://goo.gl/DUSM8C
  • https://goo.gl/1rGBB1
  • https://goo.gl/iJQIlc

You can also read ...

Oil loading capacity at Kharg has increased to 8 million bpd, nearly three times over and above the current level of oil and condensates exports.
Close to 780 million barrels of oil were exported from Iran’s...
South Azadegan field in Khuzestan Province will be the first oilfield to be tendered under the IPC model.
Oil Minister Bijan Namdar Zanganeh said on Tuesday Iran's...
South Pars Refinery to Process Gas Condensates
Iran is making efforts to increase its gas condensates...
In terms of output, nuclear power will continue to dominate.
Even a downtick in photovoltaic solar investment this year...
Europeans Abandoning Large Utility Companies
Home energy use is finally exciting to people. Unfortunately...
China Gasoline Exports to  N. Korea Dwindle
China's gasoline exports to North Korea reduced to a dribble...
US inventories fell 3.6m barrels in the week to Aug. 18.
Oil prices fell on Wednesday, weighed down by concerns of...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.