19.09.2012 - Investing in Iraq’s promising oil industry
One of the most promising areas in the high-risk, high-reward global energy and petroleum (E&P) game is Iraq. Ravaged by decades of civil war, invasion and armed conflict, Iraq is producing well below its potential. Currently, Iraq sits on the world’s third-largest oil reserves, right behind its neighbors Iran and Saudi Arabia. Even though Iraq holds such a high ranking in global oil reserves, it’s a laggard in total daily production. When you take a look at Iraq’s daily oil production, you’ll see that it’s currently sitting at about 2.4 mbd (million barrels a day), well behind Saudi Arabia’s 9.7 mbd and Russia’s 10 mbd. In short, Iraq should be producing at least twice its current production level...............................................Full Article: Source
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