Feb 12 2012 |
more articles from
|
Iraq Begins Pumping Oil To New Gulf Terminal
Sunday, Feb 12, 2012
FAW, Iraq (AFP)--Iraq began pumping oil Sunday to the first of five floating terminals in the Gulf in a move that will increase its export capacity by 850,000 barrels a day.
Prime Minister Nouri al-Maliki symbolically opened the valve of a pipeline that runs from Iraq's southern oil fields to the port of Faw, 535 kilometers south of Baghdad, and then on to the terminal.
Iraq launched a program in 2007 to increase its oil export output. It envisages the construction of five floating offshore terminals in the Gulf.
Iraq seeks to export 5 million barrels of oil per day in 2014, according to Iraq Oil Forum expert Ruba Husari.
Oil sales account for the vast majority of Iraqi government income and around two thirds of gross domestic product. The country exported an average of 2.1 million barrels per day in 2011, according to Oil Minister Abdul Kareem Luaybi.
Iraq plans on increasing production and exports this year to 3.4 million barrels per day and 2.6 million barrels per day respectively, Luaybi, who was present at Sunday's ceremony, said recently.
Currently about a quarter of Iraqi oil exports come from northern fields and are routed by pipeline to the Turkish Mediterranean port of Ceyhan.
(END) Dow Jones Newswires
12-02-12 1113GMT
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment