Iraq opposes reduce OPEC production and keep its candidate for the Secretariat

Iraq opposes reduce OPEC production and keep its candidate for the Secretariat


Published 31/05/2013 12:47 AM




Babinaoz - Agencies : announced, Iraqi Oil Minister Abdul Karim and coffee, that his country opposes reducing production ceiling «Organization of Petroleum Exporting Countries» (OPEC), saying that this would weaken the oil consumption, and that the Candidate Iraq remains among the competition for the position of Secretary General of the Organization. The minister told reporters in Vienna «global goals OPEC for establishing market stability is achieved in the present time, we do not want shock in the market hurt the global economy,» expressing this opposition to reduce the production of the organization, which called for, especially Iran. considered Laibi that «the oil market stable now, which is reflected in the price of oil which has maintained good levels of stability in the past months »Mchatara so the positions of Saudi Arabia and the United Arab Emirates and Kuwait, which were considered in the past few days that the market in case satisfactory. In what singled out the post of Secretary General of OPEC, and coffee emphasized that the selection criteria will be determined in today's meeting, and reiterated that the Iraqi candidate remains in the race, a former minister Thamer Ghadban. He said that «OPEC ministers will discuss the selection criteria for this position and this in itself is success through the presence of specific criteria well». explained that the field «Zubair» will produce 800 thousand barrels per day for a period ranging between 10 to 15 years, while the expectations were more than million barrels per day. He stressed that Iraq is currently producing at the level of 3.125 million barrels per day. And the importance of China for Iraqi oil. And the fifth round of putting presentations said, «delayed fifth round a bit because we gave priority to the development of the field of Nasiriyah, we are now working on the fifth round and most importantly is the choice of patches is rich with gas and change the terms of the contract that will be better than its predecessors». and the dispute between the central government and the Kurdistan region about paying dues companies said «I see no objection to paying dues, but provided that such cost audited and BSA Federal Probe cost and issued a report weeks ago the observations and sent to the destination concerned and so far there were no territorial Government on the observations of Supreme Audit». In response to a question about remarks officials of the region their intention to export oil from Turkey before the end of the year, he added, «We have Onbuban from the Iraqi border to the Turkish port of Ceyhan and binds Turkey agreement for a period of 15 years where a clear clause mission says he is not entitled to Turkey to use these tubes of any other party It is exclusively for the use of Iraq, and the agreement Old and new in July 2010 ». Responding to a question about the opinion of international companies that the terms of the region's best of the conditions of the Iraqi government to conclude contracts said «This is a confirmation of what I say about extortion, for me I do not want to become the subject to blackmail and extort the region and we will be careful not to get this extortion. Asked where to go oil production Kurdistan said «no Kurd, and one dare to say that in إمكانه export oil alone because Sticky clearly in the Constitution». meeting «OPEC» and experts expect to keep «OPEC» the targeted level of production of 30 million barrels per day In the last six months of this year. The representative of one of the Gulf states in a statement to the news agency Reuters »« meeting will directly lead to the extension of the current production ceiling. The «oil shale does not constitute an immediate threat or concern to Saudi Arabia. feel and OPEC ministers as well as the price of oil relieved to over a hundred dollars a barrel, far below the $ 125 level, which sounded alarm bells last year. Gulf producers believe that OPEC will still be able to pump 30 million barrels per day, provided that at least U.S. shale oil grows at a moderate rate. The energy minister said the UAE Suhail bin Mohammed Al Mazroui «I do not see that competition in Asia could lead to disorder in the price». A survey conducted by the agency «Reuters» that the production of «OPEC» of oil fell in May due to lower exports from Iraq and stalled production in some African countries. The survey showed that the average organization production reached 30.33 million bpd in May, down from 30.46 million bpd in April. The survey showed also that Saudi Arabia, which left supplies stable in recent times, began to strengthen supplies to meet the needs of the seasonality of the largest crude oil in power plants communities. Moreover, oil prices fell towards the 102 two dollars a barrel, and is about to record a decline for the third consecutive month in light of expectations of weak global demand and abundant supply in the United States. Futures fell ore «Brent» 23 cents to $ 102.20 a barrel after falling $ 1.80 the day before yesterday and heading for record monthly loss of around seven percent. U.S. crude fell 48 cents to $ 92.65 after closing the day before yesterday, down $ 1.88.

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Oil Minister announces opposition to Iraq to cut OPEC's production ceiling



30-05-2013 05:19 PM


Baghdad (news) .. He's Oil Minister Abdul Karim and coffee on Thursday objection Iraq cut production ceiling Organization of Petroleum Exporting Countries (OPEC), saying that it would weaken the oil consumption. minister said in remarks to reporters in Vienna, globally, goals OPEC special award of the stability of the market (oil) to be achieved at the moment, we do not want the events of a shock in the market hurt the global economy expressed this opposition to reduce the production of the cartel, which calls for him especially Iran. considered Laibi that the oil market is stable now, which is reflected in the price of oil, which kept the levels of good stability in recent months Mchatara so positions Arabia and the United Arab Emirates and Kuwait, which were considered in the past few days that the market is in a satisfactory condition. On the other hand, Iran is calling for a reduction of the production ceiling to raise prices, which fell in March, and April to less than a hundred dollars for a barrel of Brent oil as shown Venezuela Monday willingness to cut production if considered OPEC's necessary to keep the prices. On the other hand stressed Laibi candidate Iraq for the position of Secretary General of the OPEC Thamer Ghadhban remain on his candidacy, noting that the selection criteria will be determined on Friday. said that OPEC ministers will discuss and endorse the selection criteria for this position and this in itself is success through the existence of specific criteria well. ministers meet OPEC on Friday in the Austrian capital, where the headquarters of the organization, which provides about 35% of the global production of oil, and analysts expect to be keeping output ceiling unchanged, which identified 30 million barrels per day at the end of 2011. / End / n. g /

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