Middle East > Iraq > Iraq to boost oil output

Iraq: Iraq to boost oil output

2015/07/02

Iraq on Sunday began pumping oil to five floating terminals in the Gulf in an attempt to increase its export capacity to 850,000 barrels per day. Iraqi Prime Minister Nuri al-Maliki opened the valve of an oil pipeline from Iraq’s southern oilfields to the port of Faw. Ministry spokesman Assem Jihad told AFP that the inauguration of the initial terminal is part of a plan to increase production and export capacity of Iraq. According to him, the second terminal will be completed this year.

The ultimate goal for Iraqis to be able to export five million barrels a day, he said. Naima Hassan Fayyad, the Director General of the Southern Oil Company, told AFP that “the terminal will be ready for exports in a few days.” The other four floating terminals will be operational by the end of 2013. So far, the project has cost $ 1.5 billion.

Related Articles
  • UNWTO: International tourism – strongest half-year results since 2010

    2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
  • Illicit antiquities trade threatening cultural heritage

    2017/09/03 Besides the illicit trade of weapons and drugs, smugglers in the Mid­dle East and North Africa have found a lucrative business in trafficking antiquities.Lost treasures. A fragment of an Assyrian-era relief is seen at the ancient site of Nimrud that was destroyed by the Islamic National fighters near Mosul. The smuggling of ancient arte­facts to wealthy clients around the world has spiked in the last decade, with experts warning that the re­gion’s archaeological heritage is in peril.
  • OPEC raises forecasts for global oil demand

    2017/08/21 OPEC boosted estimates of request for its crude this year and next amid stronger-than-expected fuel consumption and a weaker outlook for rival supply. The Organization of Petroleum Exporting Nations raised forecasts for the all it needs to supply in 2017 and 2018 by about 200,000 barrels a day for each year, according to a statement from its secretariat in Vienna. Still, a rebound in Libyan production pushed the group’s output last month to the highest this year, undermining its plan to rebalance oversupplied world markets.
  • ‘I was sold seven times': the Yazidi women welcomed back into the faith

    2017/07/02 No one wears shoes in Lalish. The village is so sacred that all visitors must walk its paths barefoot. Perched at the top of a narrow valley, in the parched, scrubby hills of northern Iraq, close to the Kurdish border, its cluster of shrines are a revered site for followers of the Yazidi faith. At the heart of Lalish is a pool of water sheltered by a small cave, its entrance shaded by mulberry trees and watched by a guardian in a red turban. This is the “holy white spring”, where newborns must be brought for baptism, the waters mixed with the Lalish soil for the rites of marriage, birth and death. For generations, the rituals carried out at the spring had been unchanged. But two years ago, groups of women, usually silent, often with young children, began joining the families filtering in and out of the cave.
  • Policy Differences Emerge Among Gulf States Days After Wooing President Trump

    2017/05/29 Cracks have appeared in a Saudi-led, US-backed anti-terrorist political and military alliance days next US President Donald J. Trump ended a historic visit to Saudi Arabia. The cracks stem from Qatar’s long-standing fundamental policy differences with Saudi Arabia and the United Arab Emirates about Iran and the role of political Islam. The cracks emerged as the result of an anti-Qatar media and cyber campaign involving a spate of anti-Qatar articles in US and Gulf media; the blocking of Qatar-backed media websites and broadcasts in Saudi Arabia, the United Arab Emirates and Egypt; statements by prominent former US government officials; and a recent seminar by the Washington-based Foundation for the Defense of Democracies that has long asserted that Qatar supports militant groups.