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Oil Minister: We are committed to an agreement to reduce production and an agreement with Kurdistan reinforces this
2019/09/08 06:56:08
[rtl]Deputy Prime Minister for Energy and Oil Minister Thamir Abbas Ghadhban said that Iraq is committed to the agreement to reduce production and that the total production of Iraq will be less in the coming days than what was produced during the past months, pointing out that he had to raise production because of the summer months to increase domestic consumption to cover fuel For power plants.[/rtl]
[rtl]This came in an interview before leaving for the United Arab Emirates to attend the meeting of the ministerial committee of OPEC to monitor production, which is held this weekend.[/rtl]
[rtl]The minister heads the Iraqi delegation participating in several events during the week in the UAE, starting with the World Energy Conference in conjunction with the activities of the World Energy Forum, followed by the meeting of the Ministerial Committee for Production Control, a joint committee between the OPEC producing countries and allies outside OPEC.[/rtl]
[rtl]He said that Iraq will begin to reduce production agreed in January 2018, as of these days, especially in October, where it will start the activities of the maintenance of refineries in addition to the reduction of domestic consumption due to mild climate and therefore will also reduce electricity consumption of crude oil.[/rtl]
[rtl]The existence of serious discussions reached the advanced stages between the federal government and the regional government on the organization of production and export in the region and in coordination with the federal government and we hope to reach a unified policies and plans will be a major role for the Iraqi Oil Marketing Company (SOMO) with regard to the organization of export so as to maximize financial resources This helps us to commit Iraq to its share as agreed within the agreement with OPEC countries and outside OPEC, and up to full commitment to what has been agreed upon, and this stems from our attention and awareness of the importance of market stability and the absence of sharp fluctuations affect the economies of producing countries, especially Iraq has relied in the budget of 2019 on imports derived from the export of crude oil, which constitutes at least 90%, as will be with the budget 2020 and therefore we are keen to obtain equitable supplies to producing countries at the same time does not burden the oil consuming countries and Iraq is very keen on To be agreed on harmony, harmony and coordination with its counterparts[/rtl]
[rtl]"We will hold several meetings with energy ministers, companies and international organizations to discuss the future of energy in the region, as well as to strengthen bilateral relations and expand cooperation prospects with them," Ghadhban said.[/rtl]
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