Energy News  





. Iraq Needs 75 Billion Dollars To Develop Oil Industry

Iraq has the world's largest proven oil reserves after Saudi Arabia - 112 billion barrels.
by Staff Writers
Beirut (RIA Novosti) Jun 29, 2007
Iraq will need $75 billion to develop its oil sector, three times more than was originally thought, a government expert said Thursday. Iraq intends to boost oil production to 6 million barrels per day, but is currently producing only 2 million barrels per day due to ongoing terrorist attacks.

Tamer Gazban, former oil minister and now energy adviser to the Iraqi government, said that if the number of attacks against oil infrastructure installations declines, production could rise to 2.8 million barrels per day by the end of 2007.

The years of wars, economic blockades and violence that swept Iraq since the U.S. invasion in March 2003 have brought the country's oil industry to a virtual standstill. Despite government efforts, it has not yet reached its prewar level of 2.2 million barrels per day.

Iraq has the world's largest proven oil reserves after Saudi Arabia - 112 billion barrels.

Source: RIA Novosti

Community
Email This Article
Comment On This Article

Related Links
Powering The World in the 21st Century at Energy-Daily.com




Tempur-Pedic Mattress Comparison

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News
Russia-Georgia Gas Pipeline In Mountains To Be Highest In World
Vladikavkaz, Russia (RIA Novosti) Jun 29, 2007
A natural gas pipeline being built in the Caucasus mountains linking Russia and Georgia will gain the honor of being the world's highest pipeline, the project chief said Thursday. The high-altitude pipeline will link Russia and South Ossetia, a secessionist republic in Georgia, and is expected to end the region's gas dependence on Tbilisi.

.
Get Our Free Newsletters Via Email
  



  • Russia-Georgia Gas Pipeline In Mountains To Be Highest In World
  • US Finds Venezuela CITGO Oil Company Guilty Of Pollution
  • Gazprom Neft Says Pipeline Bypassing Bosporus Will Cost A Billion More
  • Iraq Needs 75 Billion Dollars To Develop Oil Industry

  • Fire At German Nuclear Plant But No Radiation Leak
  • Lithuanian Lawmaker Approve New Nuclear Power Plant
  • Toshiba Eyes Big US Nuclear Power Plant Deal
  • Russia Ratifies Deals On ITER Research Reactor

  • Main Component For World Latest Satellite To Measure Greenhouse Gases Delivered
  • AIRS Global Map Of Carbon Dioxide From Space
  • Widespread Twilight Zone Detected Around Clouds
  • Rand Says Further Study Warranted On Save The World Air Technology

  • Scientists Close In On Missing Carbon Sink
  • Indonesia Aims To Halve Haze-Causing Fires
  • Researchers Demonstrate Way To Control Tree Height
  • Human Activities Increasing Carbon Sequestration In Forests

  • Organic Farms Provide A Clue For India's Struggling Farms
  • Banned Chinese GM Rice Protein Found In Dutch Shipment To Cyprus
  • Wines Knocked Into Carbon Reduction
  • Down On The Virtual Farm With GrassGro 3

  • QinetiQ And NexxtDrive To Develop Hybrid Electric Drive Six Wheelers
  • Lawmakers Urge US Recall Of Chinese-Made Tires
  • Billionaire Hopes To Move Entire Plant From Brazil To China
  • US Senate Clinches Fuel Economy Deal

  • Europe Bans All Indonesian Airlines From EU Airspace
  • France Supports Cap On Airline Carbon Emissions
  • Too Little Scope For Development Of Current Aircraft Technology
  • F-35 Lightning 2 Pushing Ahead On All Fronts

  • Could NASA Get To Pluto Faster? Space Expert Says Yes - By Thinking Nuclear
  • NASA plans to send new robot to Jupiter
  • Los Alamos Hopes To Lead New Era Of Nuclear Space Tranportion With Jovian Mission
  • Boeing Selects Leader for Nuclear Space Systems Program

  • The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement