Tags: ML | Iraq | Oil

Minister: Iraq to Boost Crude Oil Production by Year's End

Sunday, 02 April 2017 04:38 AM

BAGHDAD (AP) — Iraq's oil minister says the country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day.

Addressing an energy conference in Baghdad on Sunday, Oil Minister Jabar Ali Al-Luaibi didn't give details on which of the country's oil fields would supply the increased output.

Iraq holds the world's fourth largest oil reserves. This year, it added 10 billion barrels, bringing its total reserves up to 153.1 billion barrels.

Al-Luaibi also said that more 15 billion barrels are planned to be added by 2018.

Oil revenues make up nearly 95 percent of Iraq's budget.

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
MiddleEast
Iraq's oil minister says the country plans to increase daily crude oil production to 5 million barrels by the end of this year, up from the current rate of about 4.4 million barrels per day.Addressing an energy conference in Baghdad on Sunday, Oil Minister Jabar Ali...
ML,Iraq,Oil
114
2017-38-02
Sunday, 02 April 2017 04:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved