August 13, 2012

Iraq Daily Oil Output Reaches 3.2 Million Barrels and will be 3.4 million barrels by the end of 2012

Bloomberg - Iraq’s crude-oil production has risen to 3.2 million barrels a day and will increase as planned to 3.4 million barrels a day by year’s end Deputy Prime Minister for Energy Affairs Hussain al-Shahristani said.

The country’s output has now surpassed that of Iran and Kuwait, al-Shahristani told reporters today in Baghdad. The figure would be the highest level in more than 20 years.

Crude oil pumped from fields in the northern Kurdish region “remains less than required, at a total of 116,000 barrels since Aug. 8,” when pumping from the area resumed, he said. The semi-autonomous area halted pumping for export April 1 following a dispute with the central government over payments to foreign companies. The requirement for the region is 175,000 barrels a day, al-Shahristani said.




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