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Oil Minister pledges to increase production and open investment prospects
8/28/2016 0:00
[rtl]He confirmed his intention to amend the licenses business contracts
BAGHDAD - morning vowed oil minister Jabbar and coffee to proceed with the negotiations with the licensing rounds firms to handle contracts concluded with them loopholes that they contain, vowing to increase oil production and the opening of investment prospects for thedevelopment of the filter sector, as called for a balance between supply and demand in the the oil market, he emphasized his support for the policy of OPEC and strengthened.
in the meantime, the ministry called for technical and financial investment companies qualified
in four oil refineries. to raise production ambitious plans , the minister said in aninterview with a number of journalists during his visit to the headquarters of the Iraqi drilling company in Basra: the «ministry has plans new ambitious to develop the oil sector made up of 17 to 20 at the center, the most important hub on increased crude oil production for the purpose of reaching the rates are appropriate to the needs of Iraq, saying he did not want to identify specific ceilings for future production , as happened in the past, noting that this goal will be achieved through efforts licensing rounds ,companies, in addition to the national effort which has the expertise and capabilities great. licensing rounds regard to the tours licenses, Laibi pointed out that those contracts registered with the United Nations, a list of contracts, but concluded hastily led to theoccurrence of lapses and loopholes negatively affected Iraqi side, he said , adding that the ministry does not want to intervene in disputes detrimental to the country, but the priorities of the ministry to amend these contracts, so have been initiated many discussions with licensing companies, and there is the response a bit, stressing that theministry is serious work to ensure the rights of Iraq . liquidation and investment sector in another context, the minister pointed out that the ministry take over the liquidation industry and production of oil derivatives of great importance, it revealed the existence of a deficit estimated at 200 thousand barrels between consumer need for productivity and energy available to the refineries, noting that with the presence of 13 refinery in Iraq, his ministry is seeking to develop in order to bridge the deficit, in addition to improving thequality of products, hoping to reach the level of production of the Basra refinery to 300 thousand barrels per day, and Daura to 200 thousand barrels a day », warning that theministry has an ambitious plan in this regard requires open investment wide doors , as it believes that the role of investment should be larger than the government 's role in thedevelopment of the liquidation industry. Iraqi drilling company , the minister spoke about the Iraqi drilling company during the conference held at its headquarters, saying it hasachieved great success over the past years despite the many obstacles, explaining that the company was preparing a lost ten years ago, but it turned out to be a profitable company, so aspiring ministry to be a global company proud of the oil sector in Iraq.equilibrium between supply and demand his part , said ministry spokesman Assem Jihad , in an interview, said the Laibi called the balance between supply and demand in the world oil market, pointing out that Iraq has affirmed its support for the policy of OPEC and strengthened, hoping to play an active role in supporting prices Alnaftyh.ivkr operations that oil prices have dropped dramatically during the second half of 2014 and reached to less than $ 30 in the month of January of 2016, before rising to up to nearly $ 50 per barrel. raise production capacity at the same regard , called on the oil minister to raise Alkhoznip energy from crude oil to 24 million barrels during the next few years, stressing that it is trying to solve « obstacles »facing the oil agreement between Baghdad and Orbel.oukal ministry spokesman said the oil minister called for the lifting Alkhoznip energy of crude oil from 12 million barrels to 24 million barrels during the next few years, adding that he hoped to reach an agreement with the Kurdistan about the mechanics ofexporting oil , including serve the national interest in general, and solving some of theobstacles faced by the agreement between the parties. inviting companies to invest into it and directed the oil ministry to call for qualified companies technically and financially to invest in four oil refineries .ozkr ministry spokesman said the ministry qualified companies technically and financially called investment in four oil refineries according toinvest 64 Act of 2007, indicating that the four refineries included a refinery in Kirkuk ,150 thousand barrels and refinery Kut , 100 thousand barrels and refinery in Samawa card 70 thousand barrels and refinery in Basra card ranging between 100-150 thousand barrels per day. He Jihad this step comes within the government program to encourage investment in the oil sector and to achieve self - sufficiency in derivatives Alnaftyh.ccant oil Ministry has held a tour promoting investment for the establishment of four new refineries in a number of provinces, of which Nasiriyah refinery capacity of 300 thousand barrels per day refinery in Karbala refinery in Missan refinery in Kirkuk card 150 barrels a day each.[/rtl]
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