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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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    Lukoil plans to double its oil production in Iraq

    Rocky
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    • Post n°1

    Lukoil plans to double its oil production in Iraq Empty Lukoil plans to double its oil production in Iraq

    Post by Rocky Thu 02 Jun 2016, 2:57 pm

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    Lukoil plans to double its oil production in Iraq


    Author: HAA, HH 
    Editor: AZ, HH 02/06/2016 16:48 Number of Views: 439 



    Long-Presse / Baghdad
    It revealed Russia's LUKOIL oil, on Thursday, for a plan to increase oil production rates in Iraq, as pointed out that negotiations are under way with Iraq to agree on the terms of service contracts.
    The head of Russia's LUKOIL Vagit Alakbarov told the Interfax news agency quoted Russian, and followed up (range Press), "We met with the Undersecretary of the Iraqi Ministry of Oil Fayyad grace," noting that "Lukoil plans to increase its oil production rates in Iraq." 
    Alakbarov said, that "the company continues negotiations and consultations with the Iraqi side in order to agree on the conditions of service between the two parties and amend certain terms of the contract," he said, adding that "The oil ministry has shown its willingness to continue the negotiations."  
    The Iraqi Oil Ministry, said Thursday (2 of the twentieth 2016), talks and discussions with international oil companies to keep Iraqi oil production levels and increase rates.
    The Iraqi Oil Ministry predicted on Thursday (2 June 2016), the rise in oil prices to $ 65 during the second half of the year 2016.
    He stressed Iraq, on Wednesday, (25 May 2016), his intention to overcome the constraints that hinder the increase in oil production and bring it back to the "Standard" level achieved by the beginning of the current 2016 of four million and 800 thousand barrels per day, while tipped the internationally renowned financial newspaper the financial crisis facing Baghdad is currently without achieving its ambition to produce about six million barrels by 2020 transformation.
    The Brent crude oil index, on Thursday (26 May 2016), up 1.2% to $ 50.34 per barrel for the first time during the current year, with Analysts attributed the rise to increased demand for crude oil from top oil consumers in the world, had swung the continuation the rise in oil prices during the year.
    Iraq is the second largest oil producer in OPEC, and is working with other members of the organization, such as Saudi Arabia, Kuwait, the UAE and Iran, to increase their oil exports during the third quarter of the current 2016, as Iraq is trying to overcome the standard rate of current exports amounting to up to three million and 370 thousand barrels per day, through next June, so Havea footsteps of other oil producers in the Middle East to increase their shares in the market ahead of the meeting of the Organization of petroleum exporting countries members (OPEC) early this month.

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