Export Issues May Crimp Iraq Spending

摘要

Iraq's official 12 million barrel per day production target looks more unrealistic by the day as ambitious development plans crash head-long into oil-export constraints. Jam-packed storage tanks and pipelines in southern Iraq are limiting prospects for output growth, which may force Big Oil to cut investment - and could even make it a stretch to hit 6 million b/d by the contractual deadline of 2017.