Keeper calls for the liberation of the oil resources

2/15/2016 0:00

BAGHDAD Shokran Fatlawi

allocated an economic seminar to discuss the prospects of oil prices and their impact on the Iraqi economy as well as to discuss future prospects and the regional and international situations on the global need for oil in the presence of a group of oil experts and economists. Achieve liberation and initiated a symposium organized by the progress of policy development word Institute Director of the Institute d. Mehdi al-Hafez among which oil prices have deteriorated dramatically, reaching the state's resources of oil Merpo than 15 percent than it was a year ago from now, accompanied by a trade deterioration fact that most of the imports come from abroad and are funded from oil revenues, stressing the need to achieve the liberation of the oil resources one financial resources of the state and make it as a sector of economic sectors. He said Hafiz, said the country's economy and effectiveness of basic linked derived financial resources of the oil industry being one of the rentier states anomalies are dependent on this resource since the mid-fifties of the last century, calling for the need to be free from total reliance on oil substance and make it economical liberally and away from external influences. shale oil for his part said oil expert Fouad Qassem, Prince, and the presence of more than 4 million barrels of excess oil on the global market need Maani said prices will remain low, calling for the need to cut production to get rid of this increase through an agreement between Petroleum exporting «OPEC» countries that produce more than 32 million barrels per day of needed global market as well as Matnottagh Russia. He noted that the reduction of production by producing countries, the process of a certain percentage leads to raise prices at a high rate in light of this equation, the producing countries will not lose it versa will maintain production and increase income. loss doubled his part between the financial advisor to the Prime Minister Dr. The appearance of Mohammed Saleh, said that what happened at the Davos Economic Forum in Maitalq the problem of oil investments that invest in shale oil is exposed to loss and indicators show this loss has doubled to more than 30 percent during the Shahraaar of this year, which will lead to leave this type of oils. He that the rise of shale oil prices caused by the existence of contracts between producers and consumers Maani has an obligation to be the fulfillment of her, pointing out that those contracts will expire in the month of May that will result in a decrease in the price of oil shale and therefore the likelihood of rising conventional oil prices. realistic measures and concluded the conferees to the importance of taking concrete measures to activate and private manufacturing oil industry as an alternative basis for the economy out of Rieith and construction of a new strategy based on alternatives to oil as well as the physical and human capacity building, taking into account the need to benefit from the decisions of the Davos forum possible and the results positive investigation accompanied by the need to preserve the independence of the economy and keep it out of foreign policy.