Iraq says oil production can be doubled by 2015

Wednesday, October 10, 2012

BAGHDAD (AP) — Iraq's top energy official is predicting that the country's current oil production of 3.4 million barrels per day will double by 2015.

Deputy Prime Minister Hussein al-Shahristani on Wednesday also said Iraq's long term target is to produce up to 10 million barrels of oil daily by 2020.

Al-Shahristani's comments came at a ceremony marking the release of the International Energy Agency's outlook for Iraq's energy sector.

The Paris-based agency's predictions for Iraq, released Tuesday, were far less rosy than al-Shahristani's. It forecast oil production of 6.1 million barrels a day by 2020 and 8.3 million barrels a day by 2035.

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JCLifer 7 months, 1 week ago

At $100 a barrel, that will amount to $3,650,000,000.00 a year. (Yes, that is THREE TRILLION DOLLARS A YEAR!) Seems like Iraq could afford to reimburse the United States for the cost of the war and for all the infrastructure improvements we made to their country... No doubt Obama will continue giving Iraq millions of dollars of our tax money as aid, though.

pedro 7 months, 1 week ago

You've missed 3 zero's there for trillion, it should be $3,650,000,000,000.00 !!! easily done!!

pedro 7 months, 1 week ago

eileen10 7 months, 1 week ago

If I had 3 trillion dollars I could afford a vacation!! And my own home instead of an apartment!!And of course relatives I've never heard of.

spelchek 7 months, 1 week ago

And there was much rejoicing.

asb 7 months, 1 week ago

The price of crude doesn't tell you who gets it. Yes, a lot stays in Iraq, which is why our oil companies want to stay there to get some of that foriegn money back. A lot of it comes to the US for processing into car food, where that $100 multiplies manyfold. This is one reason we were willing to kill scores of thousands of Iraqies and sacrifice thousands of Americans and allies. Where does most of that $100 come from? You.

JCLifer 7 months, 1 week ago

Yeah, it really did a lot of good to do all that war stuff to keep gas prices down.

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