Iraq is increasing its crude oil exports
In order to increase exports of crude oil Iraq has opened a new offshore platform - the installation of extraction and treatment system. This is the first object of a series of four platforms, oil refining in the Gulf. It is expected that the opening of these facilities will increase Iraqi export capacity estimated at 200,000 barrels per day.
The new plant of oil stretched from the southern oil terminal of FAO in the direction of the Arabian Sea. This object has the potential to export 850,000 barrels per day (full load).
Deputy Prime Minister for Energy, Hussein al-Shahristani said that Iran is unlikely to block the Strait of Hormuz, as it would adversely affect all countries, operating in the Persian Gulf, including Iran itself and on. Iran has threatened to block the strategic Strait in response to the entry of sanctions against its nuclear program. Measures were taken to contain the tensions in the region. Efforts have been made to ensure that oil exports to the region due to these threats is not decreasing.
Iraq is ranked fifth in the world by size of deposits of crude oil in the world, taking into account the Canadian oil sands. Iraq's economy was destroyed during the years of conflict, turmoil, tension, sabotage and sanctions. The government is currently trying to attract foreign investors to increase energy exports. This will be beneficial for economic recovery.
Four offshore platforms in the oil refining will add 2013 to the export potential of 3.4 million barrels. Iraq currently has a narrow coastline, sandwiched between Kuwait and Iran. Iraq plans to build a pipeline for each platform and load tankers near the shore of a large displacement, which can not be loaded near the platforms. Iraq also exports oil through the pipeline on land in neighboring Turkey.
Iraq plans to export the additional volumes of oil in promising emerging markets in Asia and China.