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Message Subject Iraq an economic Study
Poster Handle calin
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HMMM... interesting!


Posted Today, 08:49 AM
Opec declared its intention to implement the quota system on Iraq

Posted Image
Opec headquarters in Vienna
17.12.2011

Hassan Rashid

After more than twenty years out of Iraq from the regime production quotas which are the Organization of Petroleum Exporting Countries (OPEC) members, the organization announced recently that it will return Iraq to this system again when with its passed three million barrels a day.

Iraqi oil ministry spokesman Assem Jihad clarified that Iraq continues exports outside the quota system for the time being, but it will start negotiations with OPEC when he arrives its production to four million barrels per day, and not three million.

Jihad said in a statement made by Radio Free Iraq that even in case of agreement with OPEC on the entry of the quota system, Iraq's share must be commensurate with large reserves and exports available, he pointed out that OPEC must take into account that Iraq has a long period of oil exports, when you think about to return once again to a quota system for export.

It is worth mentioning that Iraq's share under the OPEC prior to the imposition of UN sanctions imposed on Iraq in 1990 was three million (800) thousand barrels per day, but Iraqi oil expert hamza al-jawahiri says Iraq back to this level of export is a great injustice against him.

To al-Jawaheri this confirms that Iraq may withdraw from OPEC in the absence of commensurate with the share of the oil reserves and its production, مايشكل is a great loss for the organization. He said.

[link to www.iraqhurr....e]

Read more: [link to dinarvets.com]
 
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