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Iraq and Oil by manidip bandyopadhyay
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Iraq and Oil |
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Business,International Property
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Iraq is a country of oil. Iraq and oil! It is famous in the world as an oil producing country that is currently is the fourth place of producing oil just after Saudi Arabia, Venezuela and Iran. So you can understand how oil centric the country is. Currently the country produces almost 2.5 million barrels per day and possibly the amount will increase very soon as foreign investors are very keen in investing in Iraq’s petrochemical industry to ensure higher production. Iraq badly suffered from war for seven years and after the completion of this war the country is currently raising its head once again as an oil production giant. Possibly this is very much achievable as this country is enriched with natural oil which seems to be the most influencing material over the world. After globalization it has become a trend to get as much as possible foreign investments to strengthen financial infrastructure. During the war for almost 7 years things stopped a bit but in last couple of years everything is increasing in a high rated speed and foreign investors are showing interest in investment. Still it can be considered as just a small part of proper utilization of resources. The country is enriched with natural oil and things can be improved a lot in near future. According to a recent survey it is found that the country is very much capable of producing around 15-16 million barrels of crude oil every day. It will increase daily revenue earning by four times; it is expected to reach around 280 billion USD with in 2016. This amount is almost 4 times in comparison to its current revenue of around 70 billion USD. On the other hand it will increase the average monthly income of every Iraq citizen considerably. Things are pretty easy to describe in papers but real time all the quite difficult. To achieve the top spot of oil producing companies Iraq must solve every small problem associated with oil. Political situation in Iraq is still not under control and till issues are solved entirely it is quite hard to reach that landmark. Stable government can ensure this. Once Iraqi Government starts showing that they are conscious about foreign investors right more and more foreign investors will show interest. This will eventually improve overall financial condition of Iraq. But we can expect that issues will be solved in quick succession and the country will be once again raising its head in the sky as the leader of oil producing countries.Iraq and oil will be once again uttered at a time. In natural oil production industry two words are very popular Iraq and Oil. Know more about Iraq and Oil.
Related Articles -
Iraq and Oil, oil in iraq, iraq oil, natural oil,
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