Iraq Crude Oil exports might seem threatening on gushing violence in 2014

Chennai: Iraq’s crude oil production and exports is likely to face pressure due to the gushing internal violence and ongoing security and political encounters, from the county in 2014, said London based Barclays in its recent weekly report. The Anbar province is currently fronting political unrest and is expected to aggravate the problems that triggered the infrastructure build-out in 2013. The foreign players who wanted to invest had faced payment and logistic issues previous year, they panic if this drift would further create a notch in their ideas of investing. Maliki having given the resources, has to utilize and win the elections along with strengthening up associated security services, export revenues will also remain in a perilous position among the other rival claims. These rebel groups may target the revenue streams much before the elections to mess up the Maliki regime.

The Southern exports, that is about 2.1 mb/d in the past three months , has brought down the expectations , and weather and contractor delays are likely to keep export capacity inhibited in 2014, the bank pointed. The Energy Intelligence said, only four of a planned twenty-four tanks has been installed in the south, and it furthermore deteriorated the tractability of producing temporary export constrictions.

Kirkuk-Ceyhan pipeline which is 600 kb/d has been constantly bombed by Sunni rebels, and senior Iraqi officials confront that owing its relativity to the Anbar province, it is enduring to be the target. As the estimates prove that the Northern Iraqi oil exports would hypothetically progress in the coming years, but the unremitting pipeline sabotage is likely to lurk exports via Kirkuk-Ceyhan. The existing production in the Kurdistan region is estimated to be close to 300 kb/d.

Kurdistan’s autonomous oil exports, still continue to predict that political unrest would certainly prevail in the regions of Baghdad and Erbil (KRG), bank said.


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