IRAQ: THE U.S.-APPOINTED CHIEF EXECUTIVE OF IRAQ'S OIL SECTOR HAS SAID IRAQ WILL BE READY TO PRODUCE AND EXPORT OIL BY THE END OF JUNE

Record ID: 344863

  • Title: IRAQ: THE U.S.-APPOINTED CHIEF EXECUTIVE OF IRAQ'S OIL SECTOR HAS SAID IRAQ WILL BE READY TO PRODUCE AND EXPORT OIL BY THE END OF JUNE
  • Date: 9th June 2003
  • Summary: (EU) BAGHDAD, IRAQ (JUNE 9, 2003) (REUTERS - ACCESS ALL) 1. SLV OF NEWS BRIEFING 0.07 2. SV JOURNALISTS 0.09 3. MCU (English) THAMIR GHADBAN, CHIEF EXECUTIVE OF IRAQ'S OIL SECTOR SAYING: "Hopefully by the end of this month we will be producing one and a half million barrels per day crude oil and about two-thirds of that will be made available for export. As far as the resumption of export we have said before that we have about eight million barrels at the tank farm in Jehan, and we are processing, you know, contracts now with various interested parties and we hope that during the third week of this month, this first shipment will be made available to the international market." 0.53 4. SLV OF NEWS CONFERENCE 0.58 (W5) KIRKUK, IRAQ (FILE - MAY 3, 2003) (REUTERS - ACCESS ALL) 5. LV/SLV OF U.S. SOLDIERS GUARDING MAIN ENTRANCE OF NORTHERN OIL COMPANY IN KIRKUK (2 SHOTS) 1.03 6. SV U.S. SOLDIER USING INSTRUMENT TO MEASURE SULPHUR IN THE AIR NEAR OIL FLARE 1.09 7. PAN U.S. SOLDIERS WEARING GAS MASKS AGAINST TOXIC FUMES 1.16 8. LV/CU OF OIL REFINERY WHICH APPEARS TO BE SHUT DOWN (2 SHOTS) 1.20 9. CU OIL SPILL 1.23 10. SLV/CU OLD MACHINERY (2 SHOTS) 1.28 11. CU PRESSURE GAUGE 1.31 12. SLV IRAQI OIL WORKER 1.34 (W6) BAGHDAD, IRAQ (FILE - MAY 2003 ) (REUTERS - ACCESS ALL) 13. PAN AL-DOURA OIL REFINERY 1.44 14. CU PIPES LEAKING 1.48 15. PAN OF REFINERY 1.58 (W6) BAGHDAD, IRAQ (FILE - MAY 6, 2003) (REUTERS - ACCESS ALL) 16. SLV IRAQIS QUEUING FOR PETROL 2.01 17. PAN PEOPLE FILLING UP TANKS 2.08 18. CU ANGRY CUSTOMERS IN QUEUE 2.12 19. SLV LONG QUEUE OUTSIDE PETROL STATION 2.15 Initials Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 24th June 2003 13:00
  • Keywords:
  • Location: BAGHDAD, IRAQ
  • Country: Iraq
  • Reuters ID: LVACZSCAJTIXVKHIF8Q13E6YA2V
  • Story Text: The U.S-appointed chief executive of Iraq's oil sector
    has said Iraq will be ready to produce and export oil by the
    end of June.



    Iraq's top oil official said on Monday (June 9) that
    Iraq would be ready to resume exporting by the end of June.

    "Hopefully by the end of this month we will be
    producing one and a half million barrels per day crude oil and
    about two-thirds of that will be made available for export. As
    far as the resumption of export we have said before that we
    have about eight million barrels at the tank farm in Jehan,
    and we are processing, you know, contracts now with various
    interested parties and we hope that during the third week of
    this month, this first shipment will be made available to the
    international market," said Thamir Ghadban, chief executive of
    Iraq's oil sector.

    Iraqi oil fields are now pumping around 200,000 barrels
    per day (bpd) versus a pre-war rate of 2.5 million barrels.


    The oil-rich country has been forced to import gasoline
    and liquid petroleum gas (LPG) to help ease a crippling fuel
    shortage, which has left power plants idle and motorists
    queuing hours for petrol.

    While under United Nations (U.N.) sanctions, Iraq has
    been exempt from OPEC (Organisation of the Petroleum Exporting
    Countries) output limits. It will probably be some time before
    the oil producers' group needs to look at bringing Iraq back
    into the quota system.

    Ghadban attributed the cautious outlook to damage to
    equipment and to limited supplies of industrial water, needed
    in huge quantities for oil field operations. Power shortages
    have reduced water-pumping capacity in many places.

    Iraq's proven crude oil reserves - at 112 billion barrels
    - are second in size worldwide only to Saudi Arabia's. Oil had
    accounted for 95 percent of Iraqi revenues in recent years.

    Since the mid-1990s, under international economic
    sanctions, Iraq has been able to export oil only under close
    U.N. supervision, using the proceeds largely to buy food and
    other humanitarian goods.

    The United States and Britain are seeking a lifting of
    the U.N. sanctions and restoration of open trade in Iraqi oil.


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