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Iraq plans to overcome Iran as OPEC’s second-largest oil producer

Posted on 15 May 2012

Iraq, seeking to more than double oil output by 2015, is poised to overtake Iran as OPEC’s second- largest producer by the end of the year as sanctions hobble crude production in its Persian Gulf neighbor, Bloomberg reported.
Iraq is pumping at the highest rate since Saddam Hussein seized power in 1979, supported by foreign investors such as Exxon Mobil Corp. and BP Plc (BP/) that are developing new fields and reworking older deposits………………………………………..Full Article:


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