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Iraqi Oil: Black Gold or Black Hole?
Iraqi Oil: Black Gold or Black Hole?
This is a guest post by Nawar Alsaadi. Nawar currently lives in Canada, but lived in Iraq until 1990. He still has close ties to the country, and has been following the situation closely there. Investors and global oil companies such as Shell Petroleum, Eni, China National Petroleum, and ...
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Iraqi Oil: Black Gold or Black Hole?
Peak Oil News — ... the country is nowhere close to producing 6 million barrels a day. As a matter of fact, the country is still not producing at the same level it did before the war (2.2m bpd vs 2.5m bpd before the war). It is worth noting that the pre-war level was achieved despite years of war and crippling economic sanctions. Yet despite current access to capital and technology, the country could not yield better results than oil production under the Saddam regime in the midst of war and sanctions. The Oil Drum "

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