19 April 2007

and this from the BBC business page

clipped from news.bbc.co.uk

Iraqi oil wealth 'going untapped'

Iraqi oil plant
Iraq has known oil reserves of 116 billion barrels

Iraq's oil reserves are significantly untapped and daily production could be doubled within five years, a report has concluded.

Iraq is sitting on potential reserves of 100 billion barrels, nearly twice as much as currently estimated, according to a study by energy analysts IHS.

If these reserves were exploited, it said, Iraq could overtake Saudi Arabia as the world's top oil producer.

But a major improvement in security and investment was needed, it added.

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