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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq is participating in three international economic conferences in the coming months

    Rocky
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    Iraq is participating in three international economic conferences in the coming months Empty Iraq is participating in three international economic conferences in the coming months

    Post by Rocky Tue 12 Mar 2019, 5:36 am

    Iraq is participating in three international economic conferences in the coming months
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    BAGHDAD - The Deputy Prime Minister for Energy Affairs and Oil Minister Thamir al-Ghadhban revealed on Tuesday Iraq's participation in three international economic conferences in the coming months.
    "Iraq and the Organization of the Petroleum Exporting Countries (OPEC) are committed to maintaining the level of production to stop the collapse of world oil prices and to ensure that there is no recurrence of what happened last year, when the price of a barrel of oil within 20 days from $ 86 to $ 54 per Brent index, During the US crude under $ 50. "
    He added that "Iraq has asked a question during its participation in the recent OPEC conference, what will happen if the production is not reduced, the answer was that the price of a barrel will range between 40 and 45 dollars and this is the marginal level of oil production, This is unacceptable to all, especially Iraq because its federal budget has approved the price of $ 56 a barrel export card of 3 million and 880 thousand barrels, so it has a deficit of 20 percent, so Iraq has committed with the (OPEC) to reduce production.
    "The ministry, however, has not stopped developing its production capacity, but it is committed to the interests of Iraq, the Organization and countries outside it," he said. "The 140,000 barrel reduction has been committed to keeping prices from sliding into the abyss."
    Al-Ghadhban revealed that "the next few days will witness the establishment of three conferences, the first will be held on the 18th of this month, where will see the accession of Iraq for the first time in the Ministerial Committee to control the production of members of the Organization (OPEC) and its member countries from outside, which is positive for Iraq."
    He pointed out that "in April next, the Organization will also see a meeting between the oil ministers to assess compliance with the agreement to reduce production and will see the declaration of a non-binding and voluntary cooperation pact between OPEC and outside countries to agree on mechanisms for cooperation between these countries as information exchange and coordination of roles and points of common and exchange Experiences, and then the usual ministerial meeting usually held in June. "
    The oil minister stressed "Iraq's support for the Organization of Petroleum Exporting Countries (OPEC), especially as the founder of it, revealing the preparations and coordination with the Secretariat of the Organization to hold a major conference in Baghdad next year on the occasion of the 60 years of its establishment and will be invited official invitations to all countries to attend the conference."  

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