Iraq Oil Output Back To Prewar Level: Coalition Official

[DuctapeFatwa]

Iraq's oil production has recovered to a prewar level of 2.5 million barrels a day, said Marek Belka, director of economic policy for the Coalition Provisional Authority, in a recent interview in Warsaw, Poland, with The Nihon Keizai Shimbun.

Belka projected that by simply reconstructing existing facilities output can be increased to 3 to 3.5 million barrels a day.

But to increase production to the 6 to 6.5 million barrels a day targeted by the Iraqi Governing Council, the construction of new facilities requiring about US$50 billion in investments will be necessary, he said, adding that the process could take seven years.

http://www.zawya.com/Story.cfm?id=019u3201&Section=Main&page=Home&channel=Iraq%20Reconstruction%20News&objectid=5069ED60-E2BF-46F4-A22C03E0CD918259

[Pax Argent]

1. Not to be morbid

but should we start the pool now as to when the insurgents are going to blow part of this to kingdom come? They do it every time the press starts talking about progress on the oil production front.

[chester2003]

2. Great

Now maybe the people of Iraq, not just Saddam, will see the wealth of the oil production.

[The_Casual_Observer]

4. Not likely

With the US occupation, the Iraqis will be lucky if they ever see a dime of this "wealth"

[DuctapeFatwa]

5. The people of Iraq will have something much more valuable than wealth

the knowledge that their every sacrifice in its own small way, helps Halliburton and other US business interests to grow stronger.

[jpak]

14. We gave the I-raqi people a state-run oil industry

run by a hand-picked Bush puppet government

protected by a hand-picked Bush Secret Police, Army and oil field security force

that gives all the best oil-field jobs to Americans and other foreigners.

Bush oil cronies - not the I-raqi people - will be the only ones to profit from all this.

[wuushew]

3. From nothing to 2.5 million barrels a day?

If true why no reports of 1/4, 1/3 and 1/2 restoration levels of production in the proceeding months?

[DuctapeFatwa]

6. LOL well saying it got them some polish and japanese crusaders

Any actual output will go to Turkey and Israel.

[bemildred]

7. I would be more interested in how much they are getting

out of the country and how? Last I heard they were pumping
a good deal of it back in the ground, and what was getting out
of the country was leaving in tankers. If they have any
pipelines up and can keep them up, that is news.

[madrchsod]

8. just after the fall of Baghdad

some were putting the figure as high as 70+ billion and ten years to break even. the oil fields will have to be completely rebuilt in most areas. pipelines will have to be rebuilt and secured. then new fields will have to be developed and none of this can take place until Iraq has a legal system and a legal government. that`s why George is so keen on getting things done this summer- got to get those contracts out before the election.

=

[Mikimouse]

9. I am so glad to see...

that we have our damned priorities firmly in place. Can't have anything happen to the wells, now can we?

[TheLastMohican]

10. This is horseshit

The lines near refuelling stations in Iraq are several miles long, there is no fuel in an oil rich country. The resistance blows pipelines every month so there is maybe a 1/4 of oil coming through to Turkey.
Looks like this Marek Belka (last name is translated as squirrel from polish) is playing a squirrel with us, professional liar, and he is paid to lie professionally.

[leftchick]

11. Mr. Belka should keep in touch with his Oil Minister...

Before spouting off this crap. There isn't even any oil coming out of the North yet according to this article.


http://english.aljazeera.net/NR/exeres/E9253CF3-6CB9-4528-8DE3-15D43FE8BFE9.htm

<Nonetheless, Bahr al-Ulum said Iraq's exports were on the rise.

"Iraq's exports have reached nearly 1.7 million barrels per day, with the exports going out from the south's terminal," he said.

Bahr al-Ulum expects exports to reach the pre-war total production level of 2.8 million barrels a day by March. Production is currently at 2.2 million barrels a day.

But he stressed Iraq was now looking for alternative routes to export its oil.

"Our priority consists of finding other routes beside the Basra
terminal," he said. "We need to rehabilitate our pipeline infrastructure, especially in the north.">

.... Does this mean Iraqi Puppets LIE?!

[pinniped]

12. Is pres. AHOLE going to unveil the "Mission Accomplished" sign?

Or is that coming out when output reaches 10,000,000 barrels a day?

[jmcgowanjm]

13. the occupying forces are concentrating on trying to repair the surface

facilities being hesitant to address the subsurface for
fear, as the New York Times no less admits, the objective
of the invasion should become self-evident.

"We are losing a lot of oil," said Issam al-Chalabi,
Iraq's former oil minister. He said it "is the consensus
of all the petroleum engineers" involved in the Iraqi
industry that maximizing oil production may be detrimental
to the reservoirs.

Oilfields are like krylon paint cans.
You've got to have propellant, or the contents-paint,oil
are useless.
"The answer presumably is that oil exports were embargoed
but they needed the gas for domestic use."

A 2000 United Nations report on the Kirkuk field said
"the possibility of irreversible damage to the reservoir
of this supergiant field is now imminent."

http://www.tleaves.com/main/archive/000109.html