Iraq to increase oil production

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Iraq is seeking to produce 3.2 million barrels of oil per day by the end of next year, wire services reported Saturday (May 15th). With 10 major contracts awarded to oil companies, Iraq is expecting "to increase production by around 600,000 barrels per day over the course of this year and next," said Abdulkarim al-Laibi, Iraq's deputy oil minister. Iraq is home to the world's third-largest oil reserves.

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    JA_WA

    2010-7-29

    The Iraqi government must pay attention to the importance of industry in Iraq and its deterioration. It must work to advance the Iraqi industry. By doing so, the government will contribute to the development of local production, and also the elimination of unemployment in Iraq because factories and laboratories would need the labor required to manage and operate them. In addition, we can save a lot of money for the general budget of the state as a result of reducing imports, which cost the state a lot of money, which is needed to promote other sectors that are suffering from neglect and deterioration. The Iraqi government should combat financial and administrative corruption and select a good minister who has the experience and competence needed to manage and advance the Ministry of Industry, including its various sectors and factories. Old factories and plants should be renovated and new ones should be built so as to meet the needs of the Iraqi market, at least in terms of industrial products.