View Full Version : Iraqi oil refutes report of the International Monetary Fund and confirm to raise prod

03-30-2011, 09:27 AM
Iraqi oil refutes report of the International Monetary Fund and confirm to raise production in the coming years

30/03/2011 16:42

Erbil, 30 March (Rn) - refuted and the Iraqi Oil Ministry on Wednesday, the IMF report, which reported the figures on the rates of production of Iraqi oil, indicating that the fund was based in his report to the news propagated by some of the media without reference to the oil ministry, depending upon information and news is not accurate, according to a statement issued by the ministry.

http://www.aknews.com/images/cms-image-000061999.jpg A statement by the Ministry of Oil which was obtained by the Kurdish news agency (Rn) a copy of it today, that the ministry's plan for the next four years are concentrated in the access rates of crude oil production to 6.5 million barrels per day in 2014 ".

The statement said, quoting Ministry spokesman Assem Jihad, Oil as saying that "the oil minister had reviewed earlier in the ministry's plan for the next four years to reach production in 2012 to 3.3 million barrels per day, up 2013 to 4.5 million barrels per day , while it is planned to reach production in 2014 to 6.5 million barrels of oil a day. "

He said the ministry's spokesman said, "This increase comes as the plan developed by the ministry, in coordination with national and foreign companies to reach the stated goal."

He added: "The minister does not mention the figures contained in the report of the International Monetary Fund, promoted by some of the media without reference to the oil ministry, and it seems it was based on information and news is not accurate."

With regard to export outlets, Jihad said, "The ministry announced a proactive plan to keep pace with expected increases in the rates of future production in the coming years, through the implementation of the biggest and largest project to increase energy Alkhoznip and export ports of the South in the history of Iraq's oil industry to reach out to commensurate with the rates of future production" .

"The power project includes the establishment of 24 Alkhoznip giant reservoir capacity exceeding 300 thousand barrels per day, and set up five floating platforms with a capacity of up to 900 thousand barrels per day for each platform."

"The project includes the extension tubes of marine reservoirs to ports of export, and this will flow high in Iraqi oil exports."

He pointed out that "The ministry made great strides in the implementation of this mega project, it is hoped the completion of the first phase of the project end of this year, stressing that" the reduction of the construction of the project, which usually takes 4-5 years to one year. "

He pointed out that "the project will double capacity to export this year up to 1.8 million barrels a day, and will be completed the second phase of the project next year," noting that "the increase in energy Alkhoznip will reflect positively on energy production, as well as storage and export, as well as the face of circumstances bad weather. "

He added by saying that "The oil ministry is keen on infrastructure development through the modernization of oil installations, both national effort or with the help of international companies specialized.

It is said that the International Monetary Fund questioned in a report published on Tuesday, in the capacity of Iraq's oil production of 13 million barrels of oil per day, citing Pthalk infrastructure and the inability to produce these levels of oil.

Wafa Zangana

03-30-2011, 09:28 AM
Here is the link


03-30-2011, 09:36 AM
The minister of OIl has to turn in his reports to the imf so they don't have to use old material to do the reports. This is a new concept to Iraq! Accurate Audits, and monthy updates to the IMF and WTO are important if they want to become international players. Another great find Winston!!!!

03-30-2011, 09:50 AM
i dont think these production levels are attainable without foreign companies assisting and building, and this wont happen without RV, time for Shabs to prove he is as smart as everyone claims he is

03-30-2011, 12:11 PM
I honestly dont see the IMF using a media artical for facts. The artical I read had no problem with Iraqs capabilty of producing 12MBD, but rather with their ability to ship the oil. Ports, pipelines and storage facilities will take huge investments and considerable time to upgrade... The ministers ego is a little bit bruised...thanx Winston

03-30-2011, 05:55 PM
moonbeam; his ego should be bruised, they have a hard time telling the truth. seems like most all of the iraqi politicians do.

03-30-2011, 07:23 PM
What a rediculous comment....like the IMF would just take info from media articles to do a report on Iraqs Oil.....Iraqs Oil projections have been awful at best....with all the oil in the ground if this was the U.S. and Texas Oilman were in charge.....they would be pumping out enough oil that we would be about .30 cents a gallon.....