Betting on Iraq

Iraq Dinar

Jim Cramer on the Iraq Dinar

The Iraqi Ministry of Oil Declares its Export for May 2014

The Iraqi ministry of oil announced its oil exports for the previous May 2014 according to the primary statistics of SOMO Company, which was (80.036) million barrels and their achieved outcome which is about (8.068) billion dollars, which was higher than the previous April In spite of the stoppage on Ceyhan – Kirkuk pipeline since March the 2nd, because of the continuous sabotage and terrorist operations. Mr. Assim Jihad, the spokesman of the ministry of oil shown that the exports & outcome for May from the southern ports was 2,582 million barrels/ day which is the highest since 2003. And the oil price was (100.080) dollars for the single barrel. Mr. Jihad said also that the above quantities was shipped by the different identities international companies to the ports of Basra and Khor Al-Amia and SPM from the Arab gulf. Iraqi Ministry of Oil

Iraq Starts The Exportation From (SPM3) With a Power of 800 Thousand B/D

Mr. Assim Jihad the spokesman of the ministry of oil said that the ministry started the exportation from the third floating terminal with a power of 800 thousand barrels/ day in the south of Iraq, within the project of Exportation increase which contains the establishment of three giant reservoirs in addition to the extension of three marine pipelines with four floating terminals and a fifth later, depending on the Japanese loan. Mr. Jihad said that Iraq raised its exports through the last two years by operating two single floating terminals in the Iraqi territorial waters, with a power of 800 thousand barrels/ day for each. Mr. Jihad said also that Iraq is aiming to raise the exportation power to 4, 5 million barrels/ day which will offer a higher flexibility of exportation.It is worthy to mention that, the ministry of oil declared earlier in this year for the finishing of the central counters platform which contains developed devices and electronic meters that matches the international standards, In addition to control systems that controls the exported oil quantities from the four terminals to achieve higher capacity of crude oil production. The Iraqi Ministry of Oil