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Iraq oil minister: We're going to pump 6 million barrels per day
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Monday, November 09, 2009
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By Daily Crux Editor Justin Brill:

Iraq is getting serious about pumping oil. The country's oil minister recently told interviewers he expects Iraq to produce 6 million barrels of oil per day once oil companies complete development work.

Iraq pumps just 2.45 million barrels per day now, and it's slowly awarding development contracts to giant oil firms like Chinas National Petroleum Corp, Italys Eni, and U.S.-based ExxonMobil. Iraq has never been fully explored with modern technology, but once it is, the country could contain more oil than Saudi Arabia.

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Topics: Energy | Iraq | Commodities
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