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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil Price: increased oil production will not help Iraq to face the repercussions of the economic cri

    Rocky
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    Oil Price: increased oil production will not help Iraq to face the repercussions of the economic cri Empty Oil Price: increased oil production will not help Iraq to face the repercussions of the economic cri

    Post by Rocky Wed 24 Feb 2016, 4:05 am

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    Oil Price: increased oil production will not help Iraq to face the repercussions of the economic crisis


     Baghdad / Hamed Ahmed 

    Confirmed an American site for news of oil and the economy, the decline in global oil prices, exacerbated by the economic crisis that has plagued Iraq as a result of the loss of about 85 percent of revenues, in the aftermath of the war against the (Daash), returned to increase Iraqi oil production rates "will not help" in solving that crisis, especially that sells for up to $ 22 a barrel, "what does not constitute a" half may be required to meet the budget requirements. 
    the site said oil price oil price US News for oil and the economy, in a report today, the negative to the decline in world oil prices, the Iraqi economy effects , I followed (the long-Presse), he said that "oil revenues make up 43 percent of the gross domestic product of the country's GDP, and that oil constitutes 99 percent of the country's exports, and its revenues account for 90 percent of the federal budget," noting that "the Iraqi government was forced to adopt austerity measures strict in most official circles. " 
    According to the site, that" Iraqi Prime Minister Haider al-Abadi, the international community called, during his visit to Germany recently, to provide assistance to prop up Iraq's economy and enable it to face the repercussions of the drop in oil prices, "they returned to it" shows over the worsening economic crisis that has plagued Iraq as a result of the loss of about 85 percent of its oil revenues. " 
    He added oil price, that" the increase in production rates Iraq began its investigation, failed to compensate the losses caused by the fall in oil prices, "adding that" the Iraqi economy situation has become difficult ". He explained the US site, "The Iraqi government expects the rate of oil production during the current 2016, nearly three million and 600 thousand barrels per day," pointing out that "oil revenues in October 2015 the past, stood at around 40 billion dollars, without this includes the costs of production. " 
    the Oil Price, that" the situation forced the Iraqi government to adopt austerity measures strict included significant cuts in the salaries of employees, which led to protests in some regions of the country on the delayed payment of salaries, including the Kurdistan region. " 
    He continued economic site, that the Iraqi federal government offered the Kurdistan Regional government, in the midst of this crisis, to reimburse the province salaries in exchange for its oversight of its oil exports, "Msttrda that" the important points, which is keen on Baghdad and Erbil, is to ensure the payment of fighters salaries of the Peshmerga, who make up striking a major force against al Daash in the northern regions threats and around the cities of Mosul and Kirkuk. " 
    he went on site oil price US News for oil and the economy, saying that" Baghdad find themselves in the midst of the falling oil price crisis, drain the state budget, in a difficult struggle to finance the war machine against al Daash which controls ten percent of Iraq's oil fields, including those in the province of Nineveh, where he caused a loss of Iraq, 400 thousand barrels per day, especially after the control of this organization at the Baiji refinery, north of Salah al-Din, (170 km north of Baghdad), in October of 2015 the past, "afterthought" but Daash located too far from Iraq's major fields in the province of Basra (590 km south of Baghdad), where most of the country's exports from which. " 
    continued the site, that" the attention now focused on the Majnoon field in Basra, which is one of the richest oil fields in the world strategic reserves estimated at up to 38 billion barrels, as well as to contain the field on 13 different reservoir of oil and gas, "and added that" even the recent agreement concluded between the big oil exporter, Saudi Arabia, Russia and Venezuela Qatar, freeze their production ceilings in January 2016, to support oil prices in the global market, is not expected to see the light of which requires the approval of other countries, especially Iran, which were not eager him, as well as Iraq, which expressed reluctance to participate in it. " 
    he said oil price, that" Iraq's production for January 2016, reached record levels, with up to four million and 775 thousand barrels per day, while up to three million and 900 thousand barrels export rates reached a day ", and went on that with" ranged in oil prices below $ thirty per barrel, the production rates that do not help solve the economic crisis in Iraq, where it is selling its oil around US $ 22 a barrel, which is not a half may be required to meet the budget requirements. " 
    the world oil prices have fallen more than seventy percent compared to a year past 2014 summer, more than a hundred dollars to less than 30 a barrel, resulting in damage to the economies of countries that rely on "black gold" as the sole source of income, including Iraq.
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