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[size=36]Parliamentary Oil: The Prime Minister seeks to secure fuel needs and reduce the import bill[/size]
Economy | 11:02 - 08/25/2023
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Baghdad - Mawazine News
Today, Friday, the Oil, Gas and Natural Resources Committee announced huge investments in the oil refining sector during the coming period, and while confirming its support for plans to increase production to 8 million barrels of oil per day by 2027, it indicated that Prime Minister Muhammad Shia’a al-Sudani seeks to secure fuel needs. and reduce the import bill.
Committee member Zainab Juma al-Moussawi said: "The committee supports plans aimed at increasing Iraqi oil production to 8 million barrels per day by 2027, in addition to achieving self-sufficiency in natural gas, to meet the country's needs that force us to import gas to operate power plants and industrial facilities." , stressing "the need to develop plans for the oil industry in the country."
Al-Moussawi added, "The committee also relies on developing the oil sector by relying on national companies with the support of foreign companies because oil represents the lifeblood of the Iraqi economy, and the development of the oil sector will result in providing the necessary financial resources to invest in building real human and material capital that leads to production creation and development." the rest of the economic sectors and enough to compensate society for the loss of the depleted natural resource by achieving comprehensive economic and social development.
And she continued, "We are expecting huge investments to enter during the coming period in the oil refining sector in Iraq, and there are efforts by the government of Prime Minister Muhammad Shia' al-Sudani to secure the country's fuel needs and reduce the import bill."
He pointed out that "the refineries will be offered for investment by the Ministry of Oil after completing the papers and information related to the refinery portfolios that will be announced in the northern, central and southern governorates," stressing that "the Parliamentary Oil and Gas Committee supports the ambitious plans of the Ministry of Oil to increase refining capacities in the country."
Committee member Zainab Juma al-Moussawi said: "The committee supports plans aimed at increasing Iraqi oil production to 8 million barrels per day by 2027, in addition to achieving self-sufficiency in natural gas, to meet the country's needs that force us to import gas to operate power plants and industrial facilities." , stressing "the need to develop plans for the oil industry in the country."
Al-Moussawi added, "The committee also relies on developing the oil sector by relying on national companies with the support of foreign companies because oil represents the lifeblood of the Iraqi economy, and the development of the oil sector will result in providing the necessary financial resources to invest in building real human and material capital that leads to production creation and development." the rest of the economic sectors and enough to compensate society for the loss of the depleted natural resource by achieving comprehensive economic and social development.
And she continued, "We are expecting huge investments to enter during the coming period in the oil refining sector in Iraq, and there are efforts by the government of Prime Minister Muhammad Shia' al-Sudani to secure the country's fuel needs and reduce the import bill."
He pointed out that "the refineries will be offered for investment by the Ministry of Oil after completing the papers and information related to the refinery portfolios that will be announced in the northern, central and southern governorates," stressing that "the Parliamentary Oil and Gas Committee supports the ambitious plans of the Ministry of Oil to increase refining capacities in the country."
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