[You must be registered and logged in to see this link.]Oil Minister Jabbar AllaibiAllaibi: We reduced our production at a rate of 180 thousand barrels and we have received positive responses from international companiesAuthor: HAA
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Long-Presse / Baghdad
New oil minister, Jabbar Luaibi, Monday, emphasizing Iraq's commitment to reduce its production of crude, while between the ministry has reduced production at a rate of 180 thousand barrels per day from fields operated by its affiliated national companies that, and it seeks to cut 30 thousand barrels last before the end of January current, detect receive reactions "positive" from international companies operating in the country in this regard.
The minister said, in media statements during his participation the Forum, an economist at Chatham House institute Chatham Royal House in the British capital London, reported by Reuters news agency Reuters, and followed up (range Press), said that "Iraq trimmed its oil production at a rate of 180 thousand barrels per day, under the agreement with the OAS exporting OPEC, "adding that" Iraq intends to reduce its production at a rate of 30 thousand barrels per day, the other, by the end of this January. "
He Allaibi, that "the reduction came from a production rate of about four million and 750 thousand barrels per day," stressing that "Iraq's commitment to his agreement with OPEC, and carrying out the required reduction, from fields operated by national oil companies."
He revealed the minister, for "making contact with the international oil companies operating in Iraq regarding the reduction procedures," noting that "the reactions of those companies were positive about it."
He explained Allaibi, that "the Russian Lukoil company operating in the West Qurna-2, the ministry informed its willingness to reduce its production up to 20 thousand barrels a day without compensation," he continued that "The ministry has received other answers from the company BP and other international companies operating in the country and that things are going smoothly so far in this regard. "
The oil minister, said in (the 28th of December, the last in 2016), on Iraq's commitment to reduce its production from 200 to 210 thousand barrels per day from the beginning of January 2017, anxious to achieve a balance in the world oil markets and reduce the proportion of the surplus which, expecting that rising price of a barrel to $ 60.
The Committee on Oil and parliamentary power, confirmed in (24 December 2016 Nasrm), on Iraq's commitment to the Convention on the production cut approved by the Organization of Petroleum Exporting Countries (OPEC), promised that the agreement is in the best interest of all oil-producing countries.
The OPEC members have agreed to (the thirtieth of November last in 2016), to reduce the daily production of the organization at a rate of 1.164 million barrels per day that come into effect on the first of January 2017.
The independent producers are agreed, in (the tenth of December, the last in 2016), to reduce production by 558 thousand barrels per day, or a little less about the target set at the beginning, of 600 thousand barrels per day, but it remains an important contribution of non-members of OPEC.