IFP: Iraq not capable of boosting postwar output sharply soon

03/03/2003
While Iraq's large proven oil reserves and its low production costs are an attraction for oil companies worldwide, the huge development costs required plus the country's transportation bottlenecks will prevent any substantial hike in oil exports in the near or even medium term, in the event of the successful outcome of a US-led war.Developing this point at Institut Français du Pétrole's annual Panorama symposium in Paris Feb. 6 and later in Lyon was Jean-François Giannesini, advisor to the IFP chairman. He said that the prevailing view that Iraq, under US control, would be able to pour millions of barrels per day of production onto oil markets "is a mindless vie...
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