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Parliamentary Energy: Japanese loan is necessary to develop the oil sector
7/31/2016 0:00
[rtl] Baghdad Al- Sabah
said the oil and energy parliamentary, said the loan from Japan for the development oftwo units in the Basra refinery, is very important for the development of the oil sector in Iraq and increase Iraq 's production in this area that he could help to support the country 's budget, indicating the actual need for Iraq to invest in oil and development sector.
the head of the Commission on oil and gas in the Basra Governorate Council, Ali Shaddad knight, had announced earlier that the Japanese government agreed to give Iraq a loan of two billion and 100 million dollars to implement a range of rehabilitation projects in the Basra oil refinery, noting that the proportion of interest of this loan amounting to 2 percent and repayable over 40 years.
chairman of the parliamentary energy, the Ares Abdullah, stressed the need for Iraq to large refineries for the operation of labor, and to increase the country 's productive capacity.
Abdullah said «morning»: We need to build refineries therefore the government resorted to the Japanese loan, especially in light of the suffering of Iraq's financial crisis, noting that this loan will serve to raise the production level in the future to increase export, stressing the need to invest in this area. in
turn, the member of the Committee of parliamentary power, Zaher al - Abadi »Sabah »this loan is intended for the construction of two units at the Basra refinery, on thegrounds that it is the oldest refineries and development needs to be approved by theprime minister, stressing that the development of this refinery would increase filtering and refining business, which would support the economic situation of the province in particular and Iraq in
general.
he added Abadi, said the loan proceeds will increase the coverage of the local actual need for Iraq of petroleum products, stressing that the loan is one of the simplest soft loans offered on Iraq.
for its part, indicated a member of the oil and energy Committee, Fatima Hamidi, said theprivate Japanese loan to develop Mustafa Basra is the soft loan at very low interest, the goal set up units working on black oil refining and turn it into an improved gasoline.
she said Hamidi «morning»: these units are aimed at increasing the reformulated gasoline and supplying the local market with the production, indicating that he instead be selling large quantities of black oil to foreign markets at low prices, so the loan will contribute to the development and production units able to turn it into a «Mohsen gasoline».[/rtl]
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