Home
Experts: The reduction of {OPEC Plus} has no effect on the budget
The first 06/19/2023
[You must be registered and logged in to see this image.]
Karim Al-Ansari
Experts in the oil and financial fields ruled out the impact of stopping Kurdistan's oil, which is estimated at about 400,000 barrels per day, on Iraq's exports, as it is for Baghdad quantities that can be compensated, pointing to Iraq's commitment to reducing the rate of production despite the growing financial deficit in the federal budget.
"The region's share is part of Iraqi oil production, and today we are facing a shortage estimated at 400,000 barrels per day," said former deputy of the Parliamentary Energy Committee, Ghaleb Muhammad.
And Muhammad added, in an interview with "Al-Sabah", that "Iraq can replace the 400,000 barrels of oil from another region, such as Basra, and thus we get an increase in production in OPEC without problems with disruption on the part of the region's exports."
In turn, the former Undersecretary of the Ministry of Finance, Fadel Nabi, denied the impact of stopping the oil of the Kurdistan region on Iraq's share in OPEC, and said that "the share of the region's oil is included in Iraq's share in OPEC."
Nabi explained, in an interview with "Al-Sabah", that "Turkey, for some reason, has stopped the region's oil exports until now, and once exports resume, this will be in favor of Iraq's budget estimated on the basis of exporting 400,000 barrels of oil from the Kurdistan region," noting that "the region He does not bear responsibility because the exported part was counted within Iraq's share, and Turkey was the one that stopped the export, and this problem will soon be resolved.
While the economist Kovind Sherwani saw that "among the cuts approved by the OPEC Plus coalition since the past October and April, a group of cuts amounting to 3.6 million barrels per day," noting that "the last reduction approved in April and applied in May was estimated at 1.6 million." Barrels per day, and among these reductions, Iraq’s share was about 200,000 barrels per day.
Sherwani added, to "Al-Sabah", that "Iraq used to export 3.5 million barrels per day, but today it exports 3.2 million barrels," noting that "the decrease is part of Iraq's commitment to the decisions of the OPEC Plus coalition and has nothing to do with stopping the export of oil from the Kurdistan region through the port." Jehan the Turk.
He pointed out that "the budget approved Iraq's export of about 3.5 million barrels per day, and today the export is less than planned, which will lead to a decrease in revenues and an increase in the planned deficit by 49 billion dollars, which means that the delay in resuming the export of the region's oil will deprive Iraq of the possibility of benefiting from the revenues of 450 to 480 thousand barrels per day, and therefore exports must be resumed soon to relieve pressure on the ports of Basra.
Edited by: Ali Abdel-Khalek
[You must be registered and logged in to see this link.]
» The President of the Republic stresses the need to continue efforts to preserve public money and com
» The Central Bank publishes the mechanism for imposing fines on private banks
» utube 6/22/24 MM&C IQD Update - Iraq Dinar - Investment Law - Implementation Tripartite Budget - Ra
» utube 6/23/24 MM&C Iraq Dinar- IQD Update -Iraq Reap Beneifits Artificial Inteligence-Global Econo
» Electricity: We are determined to provide “stable energy” to citizens
» An Emirati company is implementing the third solar energy project in Anbar
» Al-Sudani directs the payment of a reward for every research published in international journals
» Babylon.. The head of the procurement committee was arrested in a government laboratory
» Oil continues its losses as commodity markets are affected by the rise of the dollar
» The Ministry of Oil announces the completion of the reclamation of two oil wells in Salah al-Din
» The President of the Republic stresses the need to overcome obstacles facing investors and support I
» Health calls for maintaining food safety
» Securities warns against trading digital currencies
» Anbar adds two new sites to invest the sun in generating electricity
» Delaying the legislative elections puts the region into a tunnel of constitutional vacuum
» Calls to support the trend towards clean energy
» The 2024 budget is safe with government controls
» To end the European embargo, the Sudanese are directed to keep pace with developments and meet inter
» Parliamentary rights demand the Minister of Oil regarding the priorities of the Basra Pipeline - Had
» A deputy "shocked" by the 15-year-long looting of real estate in an Iraqi governorate
» The Poor People’s Association warns against removing violations: a legal violation, but humanity is
» Al-Sudani confirms the continuation of the five stages of the rehabilitation project for the histori
» A political movement to hold an extraordinary session to elect the new Speaker of Parliament - urgen
» Iraq forms an operations room to speed up the reverse transfer of pilgrims and increase flights
» Al-Sudani abolishes the position of head of the Council of Advisors in Kirkuk and reorganizes it
» Laundering corruption money raises Baghdad’s real estate... Questions about the source of purchasing
» The dollar rises again against the Iraqi dinar after declining for two consecutive days
» A leader in the Al-Halbousi Party: The defection of figures from Taqadum pushes the Sunni component
» China details its largest projects in the region “and extends a helping hand to Iraq”
» Al-Sudani: We have allocated approximately 5 trillion dinars to arm our various types of forces
» Air Defense: The new command operations center will control the entire Iraqi airspace
» State of Law: Two projects competing for the “Presidency of Parliament” led by Al-Sudani and Al-Mali
» The Kurdistan Union expects to resolve the issue of the local government in Kirkuk within ten days
» Establishment of the Commercial Arbitration Center in Iraq
» Encroachments on the Tigris River...a struggle between investment and environmental dangers
» The Ministry of Planning empties its employees for the purposes of the population census
» Details of the Sudanese meeting regarding Sadr City
» New statistics on the number of foreigners holding Iraqi citizenship
» Al-Sudani inaugurates the second phase of the Old Baghdad project
» Directive from Al-Sudani: 4 million dinars for everyone who publishes research in reputable internat
» Al-Sudani directs the formation of an operations room to speed up the reverse transfer of Iraqi pilg
» Warning against trading digital currencies in Iraq
» utube 6/18/24 MM&C Iraq Dinar - IQD Update - Liberation of Economy - 6.5 Billion Dinars ($4.9 Bill
» Ministers' statements evaporate in the electricity sky... bright promises that do not touch reality,
» Ministry of Oil: The government is working to convert 40 percent of crude oil into oil derivatives
» Popular Movement: We have sufficient lines to export oil and we do not need a normalization pipeline
» Al-Sudani discusses the work of Dutch companies in Iraq
» America's continued violation of Iraq's sovereignty...what is its purpose?
» Anbar tribes demand the removal of American forces
» Al-Maliki's coalition: Iraq can submit an international request to remove American forces
» Revealing an Iraqi request to America that includes the withdrawal of its forces
» A leader in the framework: Washington exploited 5 points in the strategic agreement to harm Iraq’s s
» The Human Rights Parliament criticizes the silence of the international community regarding what is
» I asked Iraq to stay for 3 years... The information publishes important details about the American f
» The US Army responds to the joint attack by the Houthis and the "Iraqi Resistance"
» Dozens of Iraqi companies participate in an investment summit in America
» Iraq.. Water storage is less than half of the need and a bleak fate awaits the marshes
» The Central Bank of Iraq sells $273 million at auction today
» Parliamentary Economy explains...Does the fluctuation of oil prices affect the economy of Iraq?
» Parliamentary law resolves the matter: salaries cannot be affected in the 2024 budget
» Integrity arrests employees in the Ministries of Finance and Trade red-handed in bribery in Anbar
» Government advisor: Sovereign guarantees to the private sector will contribute to the industrial ren
» Iraq's oil exports to America decreased in a week
» Applying for care stipends is “available at any time” for 5 categories of women
» Advisor to the Association of Banks: The Central Bank's third strategy is a new methodology for fina
» Parliamentary Electricity calls for obligating state departments to adopt solar energy
» Kurdish approval of the agreement between oil companies and SOMO
» Health warning to shop owners regarding the safety of food products
» After the decline in inflation rates... economic calls to improve financial policy management in Ira
» Transport reveals the latest developments in Al-Faw Port: We have completed 5 berths, and this is th
» The environment threatens violating factories: penalties reach fines and closure
» The World Bank expects economic growth in Iraq to reach more than 5% in 2026
» A parliamentary call to hold an extraordinary session of Parliament to discuss the reality of electr
» The Cabinet Secretariat details to Al-Iqtisad News the decision to reduce working hours: Governors a
» Directives from Sudanese regarding the issue of lifting the ban on Iraqi Airlines
» The Prime Minister stresses the necessity of keeping pace with developments in the field of air tran
» Adviser to the Prime Minister to Nina: The government is seeking new, more effective mechanisms to r
» Al-Sudani receives the Dutch ambassador to Iraq on the occasion of the end of his work
» Iraq's oil exports to America declined last week
» Sudanese inaugurates the new Air Defense Command operations center
» A plan to increase and develop oil pipelines
» {Seismic code} for Iraq
» Al-Emaar: New residential cities will reduce real estate prices
» Kurdistan receives 400,000 tourists on Eid al-Adha
» Experts praise government support for higher education
» Government advisor: The budget imposed discipline in expenditures and diversification of revenues
» Basra crude achieves gains of more than 3% in a week
» Absorptive capacity
» Establishment of the Commercial Arbitration Center in Iraq
» Baghdad Council diagnoses Note: Why does the electricity not turn off in the areas covered by privat
» A decrease in the dollar exchange rates on Iraqi stock exchanges
» The political street is awaiting the selection of the Speaker of Parliament soon
» “Electricity disputes”.. What is the story of the “regional” objection and the “intermediaries” of s
» "SDF" threatens more than 7 million Iraqis, and Parliament issues a warning: "A disaster looms on th
» Al-Maliki's candidate secures 7 votes and is separated by two votes from the position of governor of
» Iraq and the Netherlands are discussing activating the joint water council between the two countries
» Barzani is in the process of issuing a “fifth decree” to set the date for parliamentary elections in
» Is Iraq qualified politically and security-wise to receive Gulf leaders? A specialist reveals - urge