Iraq Could Become World's Second Biggest Oil Exporter -- The Guardian
IEA report says Iraq could soon be responsible for nearly half of all anticipated growth in global oil output.
Iraq could become the world's second-largest oil exporter within two decades and double its output by 2020, a major study has found.
The International Energy Agency said Iraq can overtake Russia for exports and be responsible for nearly half of all anticipated growth in global output.
But the country's government must overcome internal disputes over oil rights with the autonomous Kurdish region in the north and increase current investment from $9bn (£5.6bn) in 2011 to $25bn a year on average for the rest of the decade, the authors warned.
Read more ....
My Comment:I guess this explains why Iraq made this purchase today. Iraq has the reserves and willing partners to participate in developing it oilfields .... but .... as the Guardian points out it also has a history of political instability and violence ... a history that is continuing even today.
No comments:
Post a Comment