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Oil: The fifth licensing round will increase production. These are our plans for the gas and energy sectors. Expanded
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[rtl]Baghdad / NINA / - The Ministry of Oil announced the statistics of its plans in the oil and gas sector for the current year, while stressing the importance of launching the fifth licensing round in increasing the production of oil exploration blocks.
The representative of the Minister of Oil, Adviser to the Ministry, Abdel-Baqi Khalaf, said in a speech at the Second Oil and Gas Conference in Baghdad today, Saturday: “Oil prices touched record prices in the third quarter of last year, then returned to decline after that, and they are in constant fluctuation up and down.” The world becomes more in need of the stability of the energy market than its need for energy itself.
He added, “Providing financing for the oil industry is considered one of the biggest interim challenges in light of these complexities, and in the past seven years, the value of financing fossil fuels and oil and gas industries decreased to 50% until the production reserve.” capacities of the "OPEC Plus" group as a whole reached the ceiling of two million barrels per day in the third quarter of last year. He
explained: "Fossil fuels, over the past decades, constitute the equivalent of 80% of the global energy mix." , and this percentage is expected to remain at more than 60% until the middle of this century.”
On the Iraqi scene, the government advisor confirmed that "Iraq has doubled its oil production during the past ten years to reach a production ceiling of 4.7 million barrels per day, and Iraq alone constitutes 5% of the global increase in production for the past ten." years.”
He added, "The government recently launched the fifth round, which was pending for five years, due to supervisory and judicial observations, because of its important role in increasing the production of geographic oil parcels."
On the gas file, the consultant said, “We are also advancing with deliberate steps, and before the middle of this year we are on a date with the launch of two gas units in Basra, and there is an extensive study of the large contract.” with Total, as well as there is continuous and diligent work in the fields of Mansouriya, Okaz and Bin Omar field.”
In terms of refineries, he explained, "We are also approaching the actual operation of the Karbala investment refinery with a capacity of 140,000 barrels per day, because of its important role in the economic field and even in the environmental field with the high standard of the products of this refinery,” noting that “the government has set out to establish the Diwaniyah refinery with a capacity of 70,000 barrels per day, and the government will soon launch two investment projects for refineries in the governorates of Kirkuk and Maysan.”/ End 5[/rtl]
The representative of the Minister of Oil, Adviser to the Ministry, Abdel-Baqi Khalaf, said in a speech at the Second Oil and Gas Conference in Baghdad today, Saturday: “Oil prices touched record prices in the third quarter of last year, then returned to decline after that, and they are in constant fluctuation up and down.” The world becomes more in need of the stability of the energy market than its need for energy itself.
He added, “Providing financing for the oil industry is considered one of the biggest interim challenges in light of these complexities, and in the past seven years, the value of financing fossil fuels and oil and gas industries decreased to 50% until the production reserve.” capacities of the "OPEC Plus" group as a whole reached the ceiling of two million barrels per day in the third quarter of last year. He
explained: "Fossil fuels, over the past decades, constitute the equivalent of 80% of the global energy mix." , and this percentage is expected to remain at more than 60% until the middle of this century.”
On the Iraqi scene, the government advisor confirmed that "Iraq has doubled its oil production during the past ten years to reach a production ceiling of 4.7 million barrels per day, and Iraq alone constitutes 5% of the global increase in production for the past ten." years.”
He added, "The government recently launched the fifth round, which was pending for five years, due to supervisory and judicial observations, because of its important role in increasing the production of geographic oil parcels."
On the gas file, the consultant said, “We are also advancing with deliberate steps, and before the middle of this year we are on a date with the launch of two gas units in Basra, and there is an extensive study of the large contract.” with Total, as well as there is continuous and diligent work in the fields of Mansouriya, Okaz and Bin Omar field.”
In terms of refineries, he explained, "We are also approaching the actual operation of the Karbala investment refinery with a capacity of 140,000 barrels per day, because of its important role in the economic field and even in the environmental field with the high standard of the products of this refinery,” noting that “the government has set out to establish the Diwaniyah refinery with a capacity of 70,000 barrels per day, and the government will soon launch two investment projects for refineries in the governorates of Kirkuk and Maysan.”/ End 5[/rtl]
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