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FINANCIAL NEWS
Iraq crude production to reach 3.4m bpd by 2013: Official
03 Oct 2012
(MENAFN) Thamir Ghadhban, the top energy advisor to the Iraqi Prime Minister, expected oil output to reach 3.4 million barrels per day (bpd), and exports to average 2.9 million bpd in 2013, Reters reported.
Iraqi Oil Minister Abdul-Kareem Luaibi has recently estimated Iraq’s oil output to have surpassed 3.3 million bpd in September, and exports to have topped 2.6 million barrels bpd.
Iraq has an ambitious plan to boost oil production to 12 million bpd by 2017. However this target stumbled with the fact that Iraq’s is suffering from inadequate infrastructure and logistical shortcomings.
It is expected to target 8-8.5 million bpd, but some oil analysts and executives see even 6 million bpd by 2017 as a stretch for the war-torn country.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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