Iraq targets 3.5 mm bpd oil production by late 2005

Iraq hopes to produce 3.5 mm bpd of oil by the end of 2005, Iraqi Finance Minister Adil Abd al-Mahdi said.
"Actual production of oil depends on pipelines, if they are functioning or not," Mahdi said, adding that "we could achieve 2.5 mm of production per day and we expect to reach 3.5 mm, maybe by the end of 2005."

Mahdi spoke after a week-long visit marked by Washington's signature of an agreement formally writing off all of its $ 4.1 bn in Iraqi debt.
"We expect double digit economic growth in 2005" in Iraq, said Alan Larson, the US under secretary of state for economic, business, and agricultural affairs.

Mahdi said Iraq's January 30 elections presented a "tremendous momentum" and that Iraqis were "resolute to hold this election."
"We have to accumulate positive elements to show that these elections are fair," he added.

Mahdi said extremists will "continue their acts but their profile is lower today than before."
Iraq was a "terrorist state" under Saddam Hussein, but nowit faces a "terrorist opposition," he said, adding that the "Iraqi people are more ready than before to win this battle."