| |
|
|
 | IEA expects Iraq's crude output to hit 6m bpd by 2020  | |
MENAFN -
- 09/10/2012
|
|
|
(MENAFN) The International Energy Agency (IEA) expected Iraq's oil output to more than double by 2020, Reuters reported.
According to its 'Iraq Energy Outlook', Iraq's oil production would reach 6.1 million barrels per day (bpd) by the end of this decade under its central scenario.
The figure represents only the half of what Iraq targeted when it signed deals with foreign oil companies, and the IEA highlighted the risk of production rising more slowly than expected.
Output has passed 3 million bpd for the first time in three decades. Iraq earlier this year overtook Iran to become the second biggest producer in Opec, after Saudi Arabia.
Oil industry experts see Iraq's ambitious 12 million bpd output target by 2017 unlikely, as the sector faces many challenges including infrastructure bottlenecks, red tape and bureaucracy.
The IEA's report also presented a delayed scenario, in which energy investment in Iraq rises only slowly from 2011 levels, leading to oil production of 4 million bpd in 2020 and 5.3 million bpd in 2035.
|
| |
|
|
MENA News Headlines
|
 | May 23 2013 | Bahrain's LIC posts 16.43% climb in 2012's investments to USD760.21m ,MENAFN | | (MENAFN) Bahrain's LIC (International) CEO and managing director, R Thamodharan, announced that the insurer's total investments jumped by 16.43 percent in 2012 to USD760.21 million, reported Gulf ... |
| | May 23 2013 | Bahrain's Asry to execute up to 240 projects in 2013 ,MENAFN | | (MENAFN) Arab Shipbuilding and Repair Yard (Asry) CEO, Chris Potter, announced that the Bahraini company will carry out between 220-240 projects during the current year, reported Gulf Daily ... |
| | May 23 2013 | BP allocates USD2.9b to Rumaila oilfield in 2013 ,MENAFN | | (MENAFN) BP assigned USD2.85 billion to improve Rumaila oilfield located in Iraq during 2013, reported Gulf Daily News citing the head of the joint management committee for the field.
Raising the ... |
| | May 23 2013 | Abu Dhabi's Etihad to hire 50 airberlin pilots ,MENAFN | | (MENAFN) Etihad Airways will hire over 50 pilots from airberlin, which is going through a restructuring plan, reported Arabian Business.
6 Boeing 737-rated First Officers started the moving ... |
| | May 23 2013 | Hairdos deployed in Brazil's fight against racism ,AFP | |
(MENAFN - AFP) Nothing like a good hairdo to fight deeply entrenched racism in one of the world's emerging economic giants.
The tools of battle, such as scissors and conditioners, are being ... |
| | May 23 2013 | Outrage grows over scandal-tainted Malaysia state boss ,AFP | |
(MENAFN - AFP) Despite earning a civil servant's salary for three decades, Taib Mahmud, the powerful chief minister of Malaysia's Sarawak state, is reputed by critics to be one of Asia's richest ... |
| | May 23 2013 | Dubai's Damac starts sales of Bay's Edge units ,MENAFN | | (MENAFN) Damac Properties stated that it will soon start sales of units at its Burj area project, reported Arabian Business.
The Dubai-based company's 22-storey Bay's Edge tower consists of 220 ... |
| | May 23 2013 | Islamic Development Bank Agrees to Increase Its Capital to $ 150 Billion ,Qatar News Agency | | (MENAFN - Qatar News Agency) The Board of Governors of Islamic Development Bank Group approved at the conclusion of its annual meetings in the Tajik capital of Dushanbe today the increase of the ... |
| | May 23 2013 | China's Manufacturing Slows to 7-Month Low ,Qatar News Agency | | (MENAFN - Qatar News Agency) China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed Thursday.
Figures released by HSBC ... |
| | May 23 2013 | Flydubai begins Salalah flights ,Khaleej Times | | (MENAFN - Khaleej Times) Flydubai on Wednesday began flights to Salalah, in the Sultanate of Oman, bringing its operational network to 60 destinations.
The airline also launched flights to the Sri ... |
|  more... |
|
|
|
|
 |
|
|
|
|
