Oil industry looks to Iraq after Gulf spill

[sabra]

Source: AP

LONDON (AP) - Iraq's oil production is increasingly important to meet world energy demand, industry executives meeting in London said Tuesday, as they predicted that the political fallout from the Gulf of Mexico spill will have a long-term impact on U.S. production.

After years of sanctions and war, Iraq _ home to some of the world's largest reserves _ is finally finding the political stability necessary for oil extraction.

"Iraqi supply is one of the largest game changers," Nobuo Tanaka, executive director of the International Energy Agency told the annual Oil & Money conference.

Royal Dutch Shell PLC Chief Executive Peter Voser said his company has already raised oil production from Iraq's Majnoon field to 70,000 barrels a day, from 45,000 barrels a day previously.

Read more: http://www.wtop.com/?nid=111&sid=2076443

[Angry Dragon]

1. When is bp going to clean up the Gulf??

Still waiting for that to happen
No news on it ........ no one cares .....
do we just forget and go on??

[obxhead]

2. I thought that oil was to pay for Iraq part 2.

That's one of the selling points I remember hearing.

[Myrina]

3. Well yes because we don't care if there's oil spewing all over another country's land ...

:wtf: