Iraq oil reserves value

First, here's a very rudimentary explanation of what it means to invest in a currency. For example, let's say the Iraqi dinar forex rate is 1 US$ = 1160 IQD (as is the case, approximately, in August 2014). If you invest US$1000 in Iraqi dinars with that rate, you will get IQD 1.16 million.

According to the Oil and Gas Journal, Iraq's proven natural gas reserves are 112 trillion cubic feet (Tcf), the tenth largest in the world. An estimated 70 percent of these lie in Basra governorate in the south of Iraq. Nonsense aside, the sands of Iraq in 2003 held oil lots of it. According to data from US Energy Information Administration (EIA) at the time, "Iraq holds more than 112 billion barrels of oil - the world's second largest proven reserves. Iraq also contains 110 trillion cubic feet of natural gas, If that happens, the payday may never come for investors holding the Iraqi dinar and waiting for value appreciation. Backed by the oil reserves , Iraq has the potential to spring back and Iraq Crude Oil Production - values, historical data and charts - was last updated on March of 2020. Crude Oil Production in Iraq averaged 2178.56 BBL/D/1K from 1973 until 2020, reaching an all time high of 4830 BBL/D/1K in December of 2016 and a record low of 0 BBL/D/1K in February of 1991. Iraq is the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC), after Saudi Arabia, and holds the world’s fifth-largest proved crude oil reserves. Nearly 90% of Iraq’s crude oil production comes from onshore oil fields in the southern part of the country; these fields are under the control of Oil reserves in Iraq are considered the world’s fifth-largest proven oil reserves, with 140 billion barrels. The sources for this oil is primarily located in the Shiite Muslims-majority and Arab Sunni Muslims-dominated areas on the other hand are comparatively lacking. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has announced an increase of 10 billion barrels in Iraq's oil reserves, bringing its total proven reserves to 153 billion barrels. He said the increase comes from seven oil fields in central and southern Iraq, but did not name the fields in question.

As the world’s second-largest owner of oil reserves, Iraq is growing rapidly as a regional economic power. And, the country faces an even brighter future ahead. Since the Iraqi economy and Iraqi Dinar depend on revenues from oil sales, understanding Iraq’s oil industry is key to understanding the nation’s economy and benefiting from its growth.

In the lead-up to the U.S. invasion of Iraq 15 years ago, one factor in the debate was the notion that the the war would almost pay for itself. “ The oil revenue of that country could bring between $50 [billion] and $100 billion over the course of the next two or three years,” Paul Wolfowitz, First, here's a very rudimentary explanation of what it means to invest in a currency. For example, let's say the Iraqi dinar forex rate is 1 US$ = 1160 IQD (as is the case, approximately, in August 2014). If you invest US$1000 in Iraqi dinars with that rate, you will get IQD 1.16 million. Iraq’s Oil Industry and Current Economic Outlook. Iraq’s Oil History & Outlook, Part Two. Iraq is destined to become a regional if not global superpower based on the richness of its oil wealth. After all, this young democracy sits atop the world’s second-biggest reserves of high-quality petroleum. Iraq: what happened to the oil after the war? July 8, 2016 8.40am EDT Along with existing reserves of 143 billion The development of oil in Iraq after 2003 is much like the development of

8 Nov 2019 Since 1868, there had been 1232 oil discoveries over 500 million barrels of oil. This map plots these discoveries to reveal global energy hot 

7 Jan 2020 Before the 2003 Iraqi invasion, most of the oil industries in Iraq were in some of the world's largest oil reserves — in particular, Iraq. The field's initial recoverable reserves come to around 14 billion barrels. South Oil Company (SOC) represents the Iraqi Republic in the project and distribute  16 Sep 2017 Possessing over 298 billion barrels of proven oil reserves, Venezuela Oil companies tend to begin by extracting lower density, higher value oils, and oil reserves- meaning that the data used to determine Iraq's reserves is  14 Feb 2014 We then calculated the total value of the reserves by using current global prices. Libya holds the largest proven crude oil reserves and the fourth In 2012, Iraq passed Iran as the second largest producer of crude oil in 

1 Jul 2016 Russia, Iraq, United Arab Emirates, Kuwait, and Iran all claimed more proved reserves at that time than Venezuela. Venezuela's proved reserves 

5 Feb 2020 According to the recent reports, OPEC holds 81.9% of World petroleum reserves. Among OPEC members, Iraq is holding the top 4th crude oil  23 Oct 2019 In 2018, Iraq exported $91.7 billion worth of the commodity, which it is estimated that Canada has more than 10% of the world's oil reserves. It is also commonly agreed that Middle East oil reserves and production have Of these countries, Iran, Iraq, Kuwait, Qatar, Saudi Arabia and UAE are also  The global R/P ratio shows that oil reserves in 2018 accounted for 50 years of by Saudi Arabia (17.2%), then Canada (9.7%), Iran (9.0%) and Iraq (8.5%). 6 Sep 2019 The Iraqi Oil Ministry said that it has signed a preliminary deal with Russia's an estimated value of 100 million U.S. dollars, the statement added. In 2017, Iraq announced that its proven oil reserves increased to 153 billion 

This is a list of countries by proven oil reserves. Proven reserves are those quantities of Iraq (see: Oil reserves in Iraq), 5, 142,503, 4, 147,223, 5, 143,100, 1624.8, 88. UAE (see: Oil reserves in the United Arab Emirates), 6, 105,800, 7, 97,800 

Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has announced an increase of 10 billion barrels in Iraq's oil reserves, bringing its total proven reserves to 153 billion barrels. He said the increase comes from seven oil fields in central and southern Iraq, but did not name the fields in question.

A measure of the uncertainty about Iraq's oil reserves is indicated by widely differing estimates. The U.S. Department of Energy (DOE) estimated in 2003 that Iraq had 112 billion barrels (17.8×10^ 9 m 3 ). The United States Geological Survey (USGS) in 1995 estimated proven reserves were 78 Gbbl (12.4×10^ 9 m 3).