Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. 24/7 Space News .




ENERGY TECH
Iraq to spend $173 bn on energy infrastructure
by Staff Writers
Basra, Iraq (AFP) March 16, 2013


Iraq plans to invest $173 billion in its energy infrastructure over the next five years in order to dramatically ramp up crude output, Oil Minister Abdelkarim al-Luaybi said on Saturday.

The investment in upstream activities, refineries and to increase natural gas production will boost oil production to 9.0 million barrels of oil per day and bring in revenues of $600 billion, Luaybi told a conference in the southern port city of Basra.

"This plan will achieve revenues that will reach about $600 billion in the coming five years," Luaybi said.

Iraq currently produces around 3.15 million bpd, according to oil ministry spokesman Assem Jihad, of which around 2.5 million bpd is exported. The country has proven reserves of 143.1 billion barrels, among the highest figures in the world.

It has sought in recent years to sign contracts with international energy firms in order to boost output sharply and cement its role as a key global oil supplier.

Baghdad is almost entirely dependent on crude sales for much-needed revenues to rebuild Iraq's decrepit infrastructure and state-dominated economy, both of which have been shattered by decades of conflict and sanctions.

.


Related Links
Powering The World in the 21st Century at Energy-Daily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY TECH
Cuba anxious about post-Chavez Venezuela
Havana (UPI) Mar 14, 2013
Cuba is fervently hoping the death of late Venezuelan President Hugo Chavez won't disturb the status quo in the Caribbean island's lucrative relationship with oil-rich government in Caracas. Pronouncements by Cuba's communist elite point to the level of anxiety over the shape of things to come before or after an April 14 special election that Acting President Nicolas Maduro is widely ex ... read more


ENERGY TECH
Lunar Orbiter Image Recovery Project Seeks Public Support To Retrieve Apollo Era Moon Images

China sets moon mission re-entry test

Lunar impacts created seas of molten rock

China to use modified rocket for moon landing mission

ENERGY TECH
Opportunity Examining Rock Surfaces After Reset

Why Wind Is The Driving Force On Mars

Maryland explores adaptations strategies for survival on Mars

NASA rover finds conditions once suited to life on Mars

ENERGY TECH
Michoud Building LNG Tanks For Lockheed Martin

Technology to detect Alzheimer's takes SXSW prize

Basketball legend Shaq talks tech at SXSW

UK and Kazakhstan agree collaboration in space

ENERGY TECH
China's fourth space launch center to be in use in two years

China to launch new manned spacecraft

Woman expected again to join next China crew roster

China's space station will be energy-efficient

ENERGY TECH
Canadian commands space station for first time

'Goody Bag' Filled With Sample Processing Supplies Arrives on Station

ESA's Columbus Biolab Facility

SpaceX set for third mission to space station

ENERGY TECH
Vega receives its upper stage as the next mission's two primary passengers land in French Guiana

Grasshopper Successfully Completes 80M Hover Slam

Musk: 'I'd like to die on Mars'

Ariane 5 vehicle for next ATV resupply mission in Kourou

ENERGY TECH
The Great Exoplanet Debate

Earth-sized planets in habitable zones are more common than previously thought

Astronomers Observe Planets Around Another Star Like Never Before

Astronomers Conduct First Remote Reconnaissance of Another Solar System

ENERGY TECH
Breaking the final barrier: room-temperature electrically powered nanolasers

New Technique Creates Stronger, Lightweight Magnesium Alloys

Novel technique for chemical identification at the nanometer scale developed

Aspirin may lower melanoma risk




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement