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FINANCIAL NEWS
Iraq’s oil exports to exceed 2.6m bpd in September
01 Oct 2012
(MENAFN) Iraq’s September crude oil exports may surpass 2.6 million barrels per day (bpd), Reuters reported, citing Oil Minister Abdul-Kareem Luaibi.
The minister also said production is expected to exceed 3.3 million bpd in October.
Luaibi, who was attending the meeting in Baghdad of a special committee formed earlier this month to try to resolve differences over the country’s long-awaited oil and gas law, said the talks as “very positive”.
More than nine years after the toppling of Saddam Hussein, Iraq still has no binding hydrocarbon law. A 2007 draft national oil law that aims to resolve the disputes over crude has been caught up in political infighting.
Iraq has signed major oil contracts with some of the biggest oil and gas firms, as it seeks to boost production capacity beyond 12 million bpd by 2017.
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