Iraq: Oil projects target 3 million bpd output

[dxbboy]

Iraq: Oil projects target 3 million bpd output

http://www.iraqdirectory.com/DisplayNews.aspx?id=749


Scores of projects worth $1.7 billion have been launched to rehabilitate Iraq's dilapidated oil sector and help achieve a production target of 3 million barrels per day, a senior US official said yesterday.

[Tenndinar]

Hi, all

Just heard on Fox news, that Kuwait realized they only have half of the oil reserves they thought they had. -The oil just isnt there. Could this be good for our investment? Making Iraq more valuable?

-David:confused:

[REITman]

Hi, all

Just heard on Fox news, that Kuwait realized they only have half of the oil reserves they thought they had. -The oil just isnt there. Could this be good for our investment? Making Iraq more valuable?

-David:confused:

How can that be correct? Kuwait just realizes they only have half the reserves they thought. Something sounds wrong with this news. Not saying you got it wrong Tenndinar but I think Fox is off on this. Kuwait doesn't strike me as that dumb.

[goldraker]

You never know!

[Fireman-Hott]

Thats HUGE if its the truth.
I believe I've read Iraq has tapped into less than 20% of their oil reserves.
Going to have to do some digging on that.

[investindinar]

In my opinion it's only a matter of time, after the smoke clears and dust settles, that Iraq will turn out to have the world's largest reserves of petroleum and natural gas. That information may not be released for obvious reasons: (1) many western companies still cannot operate unimpeded by attacks from the plethora of lunatics in the country, and (2) even if confirmed by independent sources, the new government may not want that released anyway because it may upset the fine balance that they're trying to accomplish right now between the different political factions. They may want to use any release of "good news" to bolster the new government's credibility and influence at home and abroad at a time of their choosing.

I think that after all the shooting is over and done with, and arguing about who's going to occupy which ministerial post etc has been settled, we're all going to see a lot of good news coming out of Iraq in terms of additional reserves of fossil fuels being discovered and precious metals being found. All of which will bode very favorably with a much stronger dinar (NID/IQD).

Sincerely,

investindinar

[goldraker]

Iraq has precious metals too! This is news to me. Dose anyone know what types of precious metals is or was in Iraq. I will say this, I have aquired numerous Iraqi Saddam Millitary Medals. They are so beautiful, I where them around the house sometimes ordering everyone around. When I where these medals made of gold and jewels. I just turn into a completely different person. It's like being pocessed by Saddam himself. Then I start playing with all of dinars, OOHH what a feeling! Gotta go, the wife is coming. I can't let her see me dressed up again in my jewels.

[investindinar]

No. Not those kind of 'medals', the other kind.

During my researching on Iraq, I came across some references to gold, plus either platinum or titanium (I can't remember which), cadmium (used in manufacturing), and some references to minor deposits of coal. However, when I went to look for it again today, I couldn't find it anywhere using Google or Askjeeves for my search engine. The only direct references that I found in relation to natural resources in Iraq, are petroleum, natural gas, phosphates, and sulfur.

If it's any consolation, I did find some references to gold in Uzbekhistan and Afghanistan (including mentions of very large deposits of iron ore), but nothing on precious metails in Iraq. I do find it a little odd that one web site (that I can't find any more) would mention precious metails like gold to be harvested in Iraq, but no other web site seems to.

Sincerely,

investindinar

[Tenndinar]

Here is the link from Reuters....http://today.reuters.com/business/newsarticle.aspx?type=tnBusinessNews&storyID=nL20548125&imageid=&cap=

-David

[goldraker]

If we all do come out on top. We should form a corporation. To go into the ME and search for riches. We could lease land in Iraq, and start pulling our own oil out! Then we'll start searching for gold and platinum mines! Who's in.

[JASONTL]

How can that be correct? Kuwait just realizes they only have half the reserves they thought. Something sounds wrong with this news. Not saying you got it wrong Tenndinar but I think Fox is off on this. Kuwait doesn't strike me as that dumb.



“PIW learns from sources that Kuwait’s actual oil reserves, which are officially stated at around 99 billion barrels, or close to 10 per cent of the global total, are a good deal lower, according to internal Kuwaiti records,” the weekly PIW reported on Friday.

It said that according to data circulated in Kuwait Oil Co (KOC), the upstream arm of state Kuwait Petroleum Corp, Kuwait’s remaining proven and non-proven oil reserves are about 48 billion barrels.

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2006/January/business_January298.xml&section=business&col=

The world consumes around 29 billion barrels per year.

[REITman]

I read the article. It's pretty vague considering the accusation. However, if Kuwait's been misstating their reserves all along and the actual number is truly 48 billlion barrels then I would imagine that's good news for our investment.

[choochie]

Hi, all

Just heard on Fox news, that Kuwait realized they only have half of the oil reserves they thought they had. -The oil just isnt there. Could this be good for our investment? Making Iraq more valuable?

-David:confused:

Don't mean to sound dense, but how does this make it good for our investment? Doesn't that make the iraqi economy a little less stable?

[goldraker]

Folk's this is VERY big news! This put's more value on the dinar, plain and simple!