Oil contracts with Arab companies to develop oil transport

Oil contracts with Arab companies to develop oil transport


 Baghdad / Range

Oil Minister Jabbar al-Luaibi announced on Friday that the ministry signed a contract with the Arab Tankers Company to develop the Iraqi tanker company, confirming that in 2017 we will not have any losing company. Local oil experts described the ministry step as "the right direction". Al-Luaibi said in an interview with a number of media and his follow-up (range) that "the ministry has a plan to develop its companies, which are performing poorly through partnerships with solid companies," noting that "the Iraqi tanker company was a giant companies in the seventies, Passed through the wars decline performance of this company and therefore the contract will raise the performance of the company and develop them and make them winning companies and return to the sea, especially in the marketing of Iraqi oil.
He called on the oil minister, "five companies lost to the ministry to partner with international companies to develop them as the best solution," stressing that "in 2017 will be the Ministry of any company is losing."
According to the Ministry of Oil, the ministry is working to introduce new investment opportunities if available in other refineries. Asim Jihad, a spokesman for the Ministry of Oil for the (range), "The investment opportunities are raised periodically by the Ministry, and continue on this approach, but there are obstacles sometimes Delay investment operations, especially the security situation in some areas where the refineries are located. "
For their part, considered the local oil experts, the Ministry of Oil in the right direction, demanding the Ministry of the need to continue to develop most of the sectors of the ministry for sound investment. The oil expert Hamza al-Jawahiri said that "the Iraqi Ministry of Oil, with the Arab Tankers Company to develop our local companies, represents a good and necessary step in the export of oil," adding that "the ministry if it wants to develop its work should use economic studies and expert in this With a view to achieving satisfactory and positive results for the benefit of the public sector. "
On the importance of partnership with the Arab Tanker Company, the oil expert stressed that "the companies of the domestic oil sector will not develop unless there is real interaction and partnership with Arab and international companies." He pointed out that "the partnership factor generates good management, accumulated experience, And expand the work of the ministry and its oil sectors. "
Al-Jawahiri called on the Ministry of Oil to "develop the Iraqi tankers, as there is no objection to the purchase of special tankers, which makes Iraq in the lists of oil and petroleum products," noting that "in the country several refineries under development, including refinery Doura and refinery Maysan and refinery Karbala, knowing that the refinery Karbala and Maysan "They can export 140,000 barrels of crude oil a day, and that's what carriers need." The coalition of four Korean companies to oversee the establishment of the refinery Karbala oil, after the Iraqi government signed in February 2014, a total value of more than six billion dollars, with a production capacity of more than 140 barrels per day, while the new Maysan refinery capacity of 30 thousand barrels per day In addition, the Ministry of Oil announced the existence of an investment opportunity to establish an export refinery with a capacity of 300 thousand barrels per day in the city of Faw in the province of Basra. "The ministry announces an export investment refinery in the province of Basra / FAO with a capacity of 300,000 barrels per day, which can be expanded with the addition of petrochemical complex," a ministry statement said.
The statement added that "the implementation is BOT and BOO in accordance with the law of investment in refineries No. 64 of 2007 and its amendments," noting that "the products of the refinery must be environmentally friendly according to international standards EURO-5."
The ministry explained in its statement that "under the Investment Law No. 13 of 2006, the investor is covered by tax exemptions and that the discount rate on the price of crude oil on board the ship is (8%) not less than (5) dollars and not more than (10) World price ".
The Iraqi oil expert Hamza al-Jawahiri, to put such investment opportunities, saying "the ministry's contexts have to go in this direction and to work on the establishment of an export refinery, because it is required to expand refineries and investment," pointing out that "This earns the Ministry of profits by investing heavily, On the Iraqi territory and also participate in the profits that the investor earns from the refinery. "



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