Oil Parliamentary Committee: the decline in oil production will reflect negatively on investment inc

Oil Parliamentary Committee: the decline in oil production will reflect negatively on investment income and provide services to citizens


Friday, 02 August / August 2013 11:05 | PDF | Print | Send to a Friend

{Baghdad: Euphrates News} confirmed the decision of the Commission on oil and energy parliamentary, Qassim Mohammed Qassim, said the low rates of oil production will adversely affect investment income, the level of provision of services to citizens, likely the best solution for this lies with reference to the Convention, which was held last April between the two governments Federal Central, and implementation.

Kassem said told {Euphrates News} "I Khmna that state revenues federal budget 2013 on the basis of six million barrels of oil, and the lack of any barrel will reflect negatively on the government, and the federal income," noting that "Iraq has a budget deficit limits {19} billion, and that any deficiency in the production will be at the expense of this deficit, resulting in reduced investment income in the budget, "he said, adding that" this matter which will have a negative impact on the services provided to citizens and the Iraqi economy. "

According to deputies and Iraqi experts in the field of energy, that the security situation is tense and worn out infrastructure of oil pipelines, and reduce the oil giants to their investments, could lead to a larger decline of oil production in the country.

The accurate reports that Iraq's production and exports of oil fell in July for the third month in a row, in addition to the international oil companies which signed contracts to exploit the reserves of Iraq, has plans to increase spending due to the lack of pipelines is sufficient and facilities in ports to increase exports.

He said Qassem said that "the best solution to this issue is to start immediately correct the error, which can refer to the implementation of the agreement that was signed between the KRG and the federal government in the month of April and begin its implementation", stressing that "this leads to increase revenue, the central government The provincial government will export 250 thousand barrels of this increase will have a positive impact on the budget. "

And decreased oil exports this year to below average last year's {2.4} million barrels per day, and fell in July to about {2.25} million barrels a day, as you will lose exports of Basra Light crude towards the {500} thousand barrels per day in September when they begin maintenance work in this vital southern port for the export of oil, according to those involved. ended 2

[You must be registered and logged in to see this link.]

Oil lift parliamentary recommendation to the government to reduce the price of a barrel of oil in the next budget accounts

Author: en editor: br reporter: 08/02/13

Tomorrow Press / Baghdad: The Commission on oil and energy parliamentary Friday, it raised a recommendation to the Ministry of Finance and Planning to reduce the price of oil in the calculation of public budgets for the coming years in order to avoid a sudden drop in the price change from the accounts of the two ministries in the budget and create a budget deficit.

A member of the Committee MP Furat al-Shara for "tomorrow's Press," "The price of a barrel at $ 90 high figure compared to events and changes that can occur to world prices and in order to avoid embarrassment that can be caused by a decline in prices raised the Committee's recommendation to the Ministry of Finance and Planning by reducing the price of a barrel Oil in the calculation of public budgets for the coming years. "

He said al-Shara said that "the general budget for next year has been calculated on the basis of $ 90 and quantities of production exceeding two million and a quarter of a million barrels and the fact that there is an increase in the quantities of production could happen in the next year in the corresponding decrease," stressing "the need to put those things in Accounts of oil prices due to increased global production quantities or lack of demand for Iraqi Alkhaam oil. "

[You must be registered and logged in to see this link.]