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September 15, 2012

Iraq sees oil exports reaching 6 million barrels per day by 2017

Iraq laid out more milestones on its path back to oil producing power, targeting 6 million barrels per day exports by 2017, and confirming it was currently pumping more than neighbor and fellow OPEC member Iran.

Iraq milestone targets for oil exports
Year  Exports          Total Production
2012  2.6 million bpd  3.2 million bpd
2013  2.9 million bpd
2014  3.5 million bpd
2015  3.75 million bpd
2016  4.5 million bpd (NBF interpolation)
2017  6.0 million bpd  

Iraq with the help of foreign firms has ambitious plans to boost production capacity beyond 12 million bpd by 2017, but this target has proved unrealistic due to infrastructure bottlenecks 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-damaged country.






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