I mentioned in one of my posts a few days ago that if Iraq does not improve their energy infrastructure and oil wells that Iraq oil exports will drop.
American Contractor Said:
Let’s hope they get to the 70 of the most important oil wells in Iraq that have been depleted due to bad extraction methods. I could make a list of how bad the Oil wells are but some other time. I will say the reports are that if nothing is done to get the production levels up very soon than the production level will start to drop from the current levels.
The Wall Street Journal agrees and is saying the same thing.
Experts warn that because of dilapidated equipment and years of neglect, Iraqi oil production will decline and continue to do so unless Iraq enlists expertise assistance from foreign oil companies.
Baghdad — Iraqi Oil Minister Hussein al-Shahristani says he is ready to face questioning by critical lawmakers, but said parliament members have an impure agenda in their accusations against him.
Mr. Shahristani has come under increasing fire for failing to boost oil production during his three years as the oil minister. The Iraqi parliament plans to summon Mr. Shahristani to answer allegations of mismanagement and corruption.
Read article here