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IEA says Iraq oil output could more than double by 2020  LONDON: Iraq could more than double its current daily oil production by 2020, vastly boosting its economy and helping to bring stability to global energy markets, the International Energy Agency forecast on Tuesday.   The country's crude oil output could grow to 6.1 million barrels per day (mbpd) in eight years' time from about 3.0 mbpd currently, the IEA said as it unveiled its Iraq Energy Outlook report in London. Copyright AFP (Agence France-Presse), 2012 ...

Saudi oil minister pledges to satisfy market needs  RIYADH: Saudi Oil Minister Ali al-Naimi said on Tuesday that the oil-rich Gulf kingdom will work to satisfy global energy markets and to "moderate" prices.   "We will provide the markets with what they need," Naimi told reporters on the sidelines of a ministerial meeting in Riyadh. "We will work to moderate prices."   World oil prices are already facing pressure as the IMF cut its forecast for Chinese economic growth this year to 7.8 percent, while the World ...
Saudi Arabia says will work to moderate oil prices RIYADH: Saudi Arabia would like oil prices to fall and will take steps to moderate them, Saudi Oil Minister Ali Al-Naimi said on Tuesday.   "We hope the price will moderate and we will work towards moderating the price," Naimi told reporters when asked whether he would like to see oil prices fall to $100.   He said Saudi Arabia would pump as much oil as needed by its customers.   Brent crude oil was trading around $112 a barrel on ...
Shell declares force majeure on fuel in South Africa  JOHANNESBURG: Shell has declared force majeure on fuel deliveries in South Africa's economic hub of Gauteng province, which includes Johannesburg and Pretoria, due to a two-week strike by more than 20,000 truck drivers, the company said on Friday.   "There is fuel available across the country so the issue is not fuel supply but the challenge is delivering it safely to our retail sites," the company said in an emailed response to questions.   Force majeure refers to a ...
Iraq oil output likely to hit 3.4mn bpd by year end  DUBAI: Iraqi oil production is likely to hit 3.4 million barrels per day (bpd) while exports are expected to average 2.9 million bpd by next year, the top energy advisor to the Iraqi prime minister said on Tuesday.   "Next year, the plan is for 2.9 million barrels per day of export," Thamir Ghadhban told reporters on the sidelines of an industry event in Dubai.   Iraqi Oil Minister Abdul-Kareem Luaibi said earlier this week that Iraqi crude exports ...
Iraq oil output likely to hit 3.4mn bpd by year end  DUBAI: Iraqi oil production is likely to hit 3.4 million barrels per day (bpd) while exports are expected to average 2.9 million bpd by next year, the top energy advisor to the Iraqi prime minister said on Tuesday.   "Next year, the plan is for 2.9 million barrels per day of export," Thamir Ghadhban told reporters on the sidelines of an industry event in Dubai.   Iraqi Oil Minister Abdul-Kareem Luaibi said earlier this week that Iraqi crude exports ...
Iraq oil exports rise to 2.6mn bpd in Sept  BAGHDAD: Iraq oil exports rose to 2.6 million barrels per day (bpd) on average in September compared to 2.565 million bpd in August, an Iraqi oil ministry spokesman said on Monday. Exports from Basra in the south were 2.18 million bpd in August while shipments from northern Kirkuk were 420,000 bpd, including around 10,000 bpd taken by truck through Jordan, Asim Jihad said. Copyright Reuters, 2012 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln