Posted on 01/04/2008 9:03:34 PM PST by saganite
(UPI) -- Iraq has stopped exports via its northern pipeline because storage tanks in Turkey have been filled.
Abdul Razzak Mohammed al-Jiboori of the North Oil Co., a state-run firm, said levels will be drawn down over the next few days after expected sales.
Iraq Directory reports the storage reservoirs in Ceyhan, Turkey, reached 6.8 million barrels of oil produced from the Kirkuk oil fields.
This is a major feat considering the pipeline from Kirkuk to Ceyhan was mostly offline since 2003 because of attacks from insurgents.
In August the Iraq Oil Ministry said repairs and revamped security of the pipeline would improve it.
Iraq was averaging about 2 million barrels per day production last year but ended November 2007 averaging 2.4 million bpd, largely because of northern improvements.
So that must be where all the oil we were supposed to be going to war for has ended up!
LOL! Iraq has exceeded the storage capacity of the Turkish port. The pipeline in question actually has much more capacity than they’re presently using. They’ll just have to get more tankers into that Turkish port to clear out the inventory so they can pump more oil.
QUAGMIRE!
;-)
The oil surge isn’t working!
With oil approaching $100 a barrel, perhaps the demand is going down enough to start an oil surplus.
We can only hope! I will rejoice the day that oil starts to unravel and those that invested in it to run up the price, lose their shirts. It is coming!
Sorry, the demand will continue to rise for years...
Demand narrow gauge, 1000 pound, single passenger commuter cars and exclusive high speed lanes now. :)
It’s already here.
“We can only hope! I will rejoice the day that oil starts to unravel and those that invested in it to run up the price, lose their shirts. It is coming!”
These are opportunistic short term profiteers who divest their investment when the run is over. They make money daily and in the end... the one time loss averages out to smiles all the way to the bank.
Well, except for the go to HELL, do not pass GO part...
As I recall, I’ve heard talk show host Jan Mickleson say more than once that when their oil fields got up and running we should get repaid for our expense ...makes perfect sense to me...and maybe we wouldn't’t be facing $4.oo a gal. gas that they’re predicting...where the heck is Congress on this gas price situation and why hasn’t this Administration stepped up to the plate and addressed the mess this country is in....in my opinion, they just plain don’t give a damn what’s happening out here in the real world...not one darned thing they do affects their lives..their actions only affect the middle and lower income classes.
By comparison Venezuela—who is not at war—produces 3.081 million bpd which is a 2005 CIA Factbook estimate. Venezuela’s output has supposedly dropped since then, for one reason, because of infrastructure deterioration.
I believe I read that Ven. oil production dropped about 5% in 07.
Yeah, I read that the other day.
Um... we are going to get repaid with the *proceeds* of the oil sales on the open market.
Or are you suggesting we should do what the liberals claim we’re doing and rape Iraq for her oil????
Um.. That’s already been discussed. The government of Iraq will be paying us back from their oil proceeds.
I guess you believe only what the MSM tells you, because this has been the agreed state of affairs since 2006 at least.
Tell me, do you think that we liberated Kuwait for free?
bttt
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