United Nations: Iraq will top oil powers; Greatly affecting

[Stillw8n]

United Nations: Iraq will top oil powers; Greatly affecting the world

A report prepared by the United Nations that Iraq has oil reserves exceeding 143 billion barrels, and reserve potential exceeding 200 billion barrels, and that will lead the forces of oil Great position to influence the global markets, while Iraq denied officially be granted Company (Exxon Mobil) oil, U.S. approval to work in prospecting for crude oil in the Kurdistan region.

According to a UN report released yesterday that Iraq has oil reserves exceeding 143 billion barrels and potential reserves exceeding 200 billion barrels. The report, prepared by the Information and Analysis Unit and the Joint United Nations agencies, UNDP and the Organization for the reality of the oil and gas in Iraq, Iraq in the event of continuation of the current production of oil Vsikva reserves for 90 years.
And that “this reserve puts the country among a small group of countries that have a high potential for oil production and influence the world oil markets.” He added that “Iraq will lead the forces of the vast oil can influence the global market, taking into account the sheer volume of proven reserves and potential and build on the current plans for oil development.”

He explained that “two thirds of oil and gas reserves are found in southern Iraq, and one third in the north.”

The report also pointed out that “the oil sector dominated the economy of the country fully contributes to the estimated 60% of GDP, and 99% of exports, and 90% of government income,” and added that “the higher the rates of production and export of oil has expanded its control of the economy, and therefore grew government revenue from it. “

The report emphasized that “in the event of continuing oil production in this way Vsikva reserves proven oil for 70 to 90 years,” pointing out that “the average price of a barrel of oil in the event continued at a level of $ 100 will reach the proceeds of the Iraqi government this year to $ 80 billion and will double to 160 billion by 2016. “

The report noted that “contracts for technical services in the federal government granted the oil-producing companies really share it, but the extent of this constitutional right is the subject of dispute at the present time.”

He added that “these contracts may be held accountable if not approved by the Iraqi Council of Representatives to prevent ambiguity in constitutional provisions relating to oil and the differences between the federal government and regional governments on the translation of these items, the Iraq version of the required legislation.”

He stressed that “oil export revenues led to high real exchange rate of the Iraqi dinar, which would hamper the export process in other sectors of non-oil imports and increase competition and raise costs in the non-traded sectors.”

The report shows that “23% of Iraqis live below the poverty line, with an estimated expense of the individual 2.2 dollars a day, and this means that Iraq needs to create more jobs,” adding that “the abuse of Iraqi gas as it produces between 16 and 17 billion standard cubic meters of gas annually, and is marketed locally billion cubic meters, and pumps billion cubic meters in the tanks to help in the production of oil and the rest is either burned or lost in the air. “

According to the UN report, the “reserve ratio reliable gas of 3100 billion standard cubic meters, equivalent to 15 billion barrels of oil, but gas reserves is still not used optimally,” adding that “Iraq’s oil production is distributed over 12 fields president is Tawke , Taq Taq, Khrmalh, Star, Pope Karkar, Badra, cilia, Halfaya, crazy, West Qurna, Rumaila North and South America, and Zubair. “

In regard to the Post, said a press release from the Media Office of the Deputy Prime Minister for Energy, Hussein al-Shahristani, “picked up some of the media news that al-Shahristani agreed that Exxon Mobil, which operates in southern Iraq, for oil exploration in the Kurdistan region, and we stress that the news untrue out of hand. “

The statement added that “the Iraqi government will deal with any company violate the laws the same way that dealt with similar companies before.” The statement said that “the Ministry informed the oil company Exxon Mobil this position.”

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