Abdul-Mahdi announce the postponement and the freezing of projects to develop the oil industry because of financial distress

Oil Minister Adel announced Abdul-Mahdi, while inspecting some oil installations in Basra on Thursday that the ministry was forced to freeze and postponement of a lot of the development of the oil industry by the financial distress caused by low oil prices projects.

Said Abdul-Mahdi, in an interview with Alsumaria's News, "The decline in oil prices severely affected the development of the oil sector projects, so that has been disabled and the postponement of many of these projects during the current year," noting that "to increase oil production efforts continuing at a good pace, but if it were available We have more money than we have been able to achieve the fastest and largest increase in production.

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The Minister of Oil, who came to Basra coming from Dhi Qar out that "the ministry focus in the current phase to increase oil production, the efforts of national companies," adding that "the Iraqi oil sector cause for optimism, there are measures aimed at reform of the errors were not in sight."

The Basra is the oil industry center in Iraq, and the most important oil cities in the world, owns about 59% of the reserves of Iraq's oil, and has the largest oil fields in Iraq, including crazy and Rumaila and West Qurna, and by maintaining exports most of Iraq's oil amounts at a rate of about three million barrels per day.