Fadel Gheit Production Quotations

With the right investment environment and under the right government, Iraq could increase production by a million barrels a day every year for the next 10 years, ... It could be the largest oil exporter in the world, eclipsing Saudi Arabia.

Obviously, if they had cut production more, prices would have probably moved higher, and that would have curtailed economic growth, ... They want to make sure they will not be blamed for any economic slowdown in the second half of this year.

We could say we were releasing oil to drive prices down until they get to $25 a barrel, ... Then OPEC could say it'll cut production to keep prices up. It's a very delicate subject to tinker with.

Operationally they exceeded expectations in terms of production; their production volume was up significantly from year ago.

This is an industry in crisis. Every oil company will reduce their production forecast as lower spending will immediately be followed by lower production and lower reserve replacement.

The more President Bush talks about releasing strategic reserves, the more we understand that weve got no more production to give.

It's cheaper for companies to buy production and reserves on Wall Street than go drill for it. It's instant gratification.

The volume of lost production will be significantly greater than that lost under Ivan. Not one company that was affected has been able to restore its production 100 percent.