Oct 22 2015

Oil Ministry Is Obliged To Pay 8 To $ 9 Billion To Oil Companies Operating In Iraq

BAGHDAD: A member of the parliamentary Commission on oil and energy, Zaher al-Abadi said, "The oil ministry obliged to pay between 8 to $ 9 billion as dues to oil companies for last year and this year."

He told the National Iraqi News Agency / NINA / "The Commission discussed with Oil Minister Adel Abdul-Mahdi yesterday the price per barrel in the budget and the amount of production and tours of licenses and the issue of associated gas and to get benefit from that gas inside Iraq as well as the new draft of the petrochemical.".

Abadi said, "the price of oil, which was adopted by the government in the budget of next year is $ 45 a barrel and amount of 3.6 million barrels as total average, which 3.05 million barrels from the southern fields and 550 000 barrels from the Kurdistan region and dues for the oil companies from 2014 and 2015, the Ministry should pay, which is up to 8 to $ 9 billion. "

He continued: We, in the Commission will try, as much as possible, to adopt 40 to 42 dollars a barrel as a result of the volatility of the market and supply and demand and the global political situation in addition to the policies of other countries in order to control the market. ".

The parliamentary Commission on oil and energy hosted oil minister yesterday and discussed with him the oil price in the budget and the payment of oil companies operating in Iraq.