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Oil contracts with US company to invest gas
23/1/2018 12:00 am [rtl]He went on plans to exploit him and stop his burning Baghdad / Sabah / Tareq al-Araji The Ministry of Oil signed a memorandum of understanding with the US company Orion to invest gas in quantities up to 150 million standard cubic feet in the field of Ben Omar River in the province of Basra while the ministry announced the renewal of the agreement to supply the Egyptian side with 12 million barrels of crude oil for a year in the meantime, Oil is one of the formations of the Ministry of Oil its intention to buy tanker capacity of two million barrels during the current year. Oil Minister Jabbar Ali al-Allaibi said on the sidelines of the signing ceremony of the memorandum of understanding attended by the "morning" and participated by the US ambassador in Baghdad, Duclos Silliman and a number of officials in the ministry and the Secretariat General of the Council of Ministers: The ministry is continuing in its plans to optimize the gas associated with the production of crude oil up to the goal The aim of stopping incineration operations at the end of the year. The minister added that the signing of the memorandum of understanding is an important step towards the investment of gas in this field in quantities of 100-150 million cubic feet standard (rectified), indicating that these quantities of gas will have economic returns to the country by providing financial revenues to the State Treasury As well as stop the waste of wealth that has been going on for decades, in addition to the development process will provide quantities of dry gas for uses in the generation of electric power in the national power stations and other uses in the manufacture of petrochemicals and fertilizers, as well as the production of quantities of derivatives resulting from the filter SPA Gas investment . On the other hand, the Ministry of Oil announced the renewal of the agreement to supply the Arab Republic of Egypt with 12 million barrels for a year. "The Ministry of Oil and its Egyptian counterpart have agreed to renew the supply of 12 million barrels of crude oil to Egypt, under the same conditions, starting from January this year," ministry spokesman Assem Jihad said, adding that the agreement was part of boosting relations between the two countries. Prospects for bilateral cooperation. In a related development, the Iraqi oil tanker company, one of the formations of the Ministry of Oil, its intention to buy a tanker oil (Palc) capacity of two million barrels during the current year, noting that it completed the procurement procedures and was sent to the ministry pending approval of the latter to complete the process. The general manager of the company Hussein Allawi said in a press statement: In the event of the purchase of the carrier, which will be the company's operating funds, will be invested in operating the fleet of the Arab Maritime Transport Company, which was recently contracted by the Ministry of Transport or used in the transfer of Iraqi oil after the agreement with Somo Oil Marketing Company. He pointed out that the carrier of Chinese origin and worth up to 90 million dollars, where the company will pay the amounts of purchase under the system of installment and for four years and the budget of the company.[/rtl] [rtl][You must be registered and logged in to see this link.][/rtl] |
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