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[size=36]Parliamentary Oil warns of Iraq losing two million barrels per day[/size]
Economy | 07:46 - 12/09/2023
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Mawazine News - Baghdad
The Parliamentary Oil, Gas and Natural Resources Committee warned, today, Tuesday, of the loss of two million barrels of oil per day due to the risk of damage to oil pipelines as a result of their aging, while it issued an urgent directive to the Ministry of Finance.
The Media Department of the House of Representatives stated in a statement received by Mawazine News, that “the Oil and Gas Committee hosted, today, the Deputy Minister of Oil for Extraction Affairs, the Director General of the Basra Oil Company, the Director General of the Economic Department, and the Director General of the Studies and Planning Department, in addition to the Assistant Director General.” Basra Oil, to discuss a number of issues.”
The head of the committee, Haibat Al-Halbousi, said, according to the statement, “The committee discussed the issue of rehabilitating the crude oil export pipelines in Basra Governorate and rehabilitating the Al-Faw warehouse to preserve the amount of exports, because the crude oil export pipelines are very old, and some of those pipes are 50 years old and need to be rehabilitated.” In addition to the marine pipelines (SPM) that were constructed in 2011.
He pointed out that “the Prime Minister’s approval for the financial allocation was obtained, and the financial allocation was included in the budget within the Japanese loan, but the Ministry of Finance has not disbursed those allocations yet, especially the financial allocations for the third marine pipeline, which will raise exports to (4) million barrels per day.” And operating the port of Khor Al-Amaya, which will increase production to (500) thousand barrels. Therefore, the committee decided to oblige the Ministry of Finance to spend these allocations, to avoid the risk of damage to the pipelines, which will cause a loss of two million barrels per day of oil production, in addition to environmental damage.”
He added, "The committee also discussed excluding national effort companies from the government contracts implementation law, similar to foreign companies, and liberating the operator from some controls, in addition to the problems of exporting crude oil with Turkey."
He stressed "the committee's support for the ministry at the legislative and supervisory levels in a way that contributes to the development of the Iraqi oil sector, and the necessity of the ministry's commitment to responding to the committee members' letters and questions without delay."
The Parliamentary Oil, Gas and Natural Resources Committee warned, today, Tuesday, of the loss of two million barrels of oil per day due to the risk of damage to oil pipelines as a result of their aging, while it issued an urgent directive to the Ministry of Finance.
The Media Department of the House of Representatives stated in a statement received by Mawazine News, that “the Oil and Gas Committee hosted, today, the Deputy Minister of Oil for Extraction Affairs, the Director General of the Basra Oil Company, the Director General of the Economic Department, and the Director General of the Studies and Planning Department, in addition to the Assistant Director General.” Basra Oil, to discuss a number of issues.”
The head of the committee, Haibat Al-Halbousi, said, according to the statement, “The committee discussed the issue of rehabilitating the crude oil export pipelines in Basra Governorate and rehabilitating the Al-Faw warehouse to preserve the amount of exports, because the crude oil export pipelines are very old, and some of those pipes are 50 years old and need to be rehabilitated.” In addition to the marine pipelines (SPM) that were constructed in 2011.
He pointed out that “the Prime Minister’s approval for the financial allocation was obtained, and the financial allocation was included in the budget within the Japanese loan, but the Ministry of Finance has not disbursed those allocations yet, especially the financial allocations for the third marine pipeline, which will raise exports to (4) million barrels per day.” And operating the port of Khor Al-Amaya, which will increase production to (500) thousand barrels. Therefore, the committee decided to oblige the Ministry of Finance to spend these allocations, to avoid the risk of damage to the pipelines, which will cause a loss of two million barrels per day of oil production, in addition to environmental damage.”
He added, "The committee also discussed excluding national effort companies from the government contracts implementation law, similar to foreign companies, and liberating the operator from some controls, in addition to the problems of exporting crude oil with Turkey."
He stressed "the committee's support for the ministry at the legislative and supervisory levels in a way that contributes to the development of the Iraqi oil sector, and the necessity of the ministry's commitment to responding to the committee members' letters and questions without delay."
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