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Al-Muhammadawi reveals: The cost of producing oil in some fields may reach 17 dollars
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A member of the Energy Committee in the House of Representatives, Jamal Al-Muhammadawi, demanded Tuesday (March 16, 2021) to cancel the licensing rounds contracts, and to find another mechanism to replace them .
Al-Muhammadawi said, " We called for the cancellation of the licensing contracts rounds, and to find another mechanism to manage the oil fields that would achieve the Iraqi connection ."
He explained, "Especially since after the drop in point prices due to the Corona pandemic, shouts have arisen regarding the economic viability of these contracts, which have incurred great losses for the state's treasury, compared to production ."
He pointed out that "the cost of oil production in some fields may sometimes reach from 16 to 17 dollars, and this is a large amount compared to the sums of money sold since the outbreak of the pandemic until now ."
[You must be registered and logged in to see this link.]
A member of the Energy Committee in the House of Representatives, Jamal Al-Muhammadawi, demanded Tuesday (March 16, 2021) to cancel the licensing rounds contracts, and to find another mechanism to replace them .
Al-Muhammadawi said, " We called for the cancellation of the licensing contracts rounds, and to find another mechanism to manage the oil fields that would achieve the Iraqi connection ."
He explained, "Especially since after the drop in point prices due to the Corona pandemic, shouts have arisen regarding the economic viability of these contracts, which have incurred great losses for the state's treasury, compared to production ."
He pointed out that "the cost of oil production in some fields may sometimes reach from 16 to 17 dollars, and this is a large amount compared to the sums of money sold since the outbreak of the pandemic until now ."
[You must be registered and logged in to see this link.]
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