[You must be registered and logged in to see this link.]OPECBaghdad was committed to an agreement, "OPEC" without effect on oil companiesAuthor: AB, ZJ
Editor: AB, BK
Number of Views: 1841
Long-Presse / Baghdad
The Commission on oil and energy in the House of Representatives, Iraq's commitment to the Convention on the production cut approved by the Organization of Petroleum Exporting Countries (OPEC), promised that the agreement is in the best interest of all oil-producing countries, while oil expert pointed out that the agreement "will not affect" the international companies operating Iraq, he saw that the fears of some states' compliance with OPEC's agreement "is justified."
The head of the Oil and Energy Committee in the House of Representatives Ares Abdullah, in an interview to the (long-Presse), "The Iraqi government will adhere to the Convention on the reduction of oil production, and urges other countries to apply them, the fact that non-compliance would affect prices."
Abdullah added that "the decision to cut production is not directed against any producing country it is for the benefit of everyone both inside and outside OPEC."
For his part, said oil expert Hamza Jeweler in an interview (range Press), "The OPEC agreement will not affect international companies operating in Iraq, where it can be implemented to reduce the quantities produced by the oil ministry estimated that direct, amounting to about a quarter of the country's production."
He said the jeweler, "The Iraqi government does not need to inform the international companies operating oil Bhcolh cut production, especially as they reach the Ministry of Oil to its activity a day," she returned to "the fear of lack of commitment by other countries to the Convention on production cut is not justified, the fact that the commitment will be beneficial to everyone within OPEC and outside in an unprecedented situation to balance the market and raise the price of crude. "
The director of Lukoil, Vagit Alakbarov, denied in remarks followed up (range Press), in (19 December 2016), there are no plans to reduce the company's production in Iraq during 2016-2017, noting that the Iraqi government "have not been" Company in this regard.
The Iraqi Oil Marketing Company (SOMO) revealed in a statement on Wednesday (December 201 621), about the possibility of delay in Iraq no later applied to reduce oil production, according to OPEC's agreement, indicating that it would cut production in the first half of next 2017, and not directly in the date on which unity of OPEC in January.
The OPEC members have agreed to (the thirtieth of November 2016), to reduce the daily production of the organization at a rate of 1.164 million barrels per day that come into effect on the first of January next 2017.