Parliamentary oil: the export of 4 million barrels a day is possible but it will not solve the financial crisis

10/12/2015



The Commission on oil and energy parliamentary, first of Tuesday, the government's ability to raise the amount of its oil production to four million and a half million barrels per day, and made it clear that for decades the largest proportion licensing rounds of the production process after its acquisition of the largest producing fields. The oil experts questioned the arrival of Iraqi production of crude oil in 2016 to four million barrels according to the economic outlook experienced by the country and of the financial crisis and the government's inability to pay the debt of foreign companies.


He said the Commission on oil and energy parliamentary member Zaher al-Abadi, in an interview for the "long" that "the amount of oil production is 4-limits million barrels a day, but we aspire to increase export volume, after it reached 3100 million barrels of southern and central to the fields, and 550 000 barrels of fields province Kurdistan. "
He added that "there will be an increase in the amount of production if the government maintained a productive projects, through the provision of full support and liquidity to sustain, as well as the provision of adequate infrastructure, and otherwise production will fall."
He said al-Abadi "The government should take into account the security and the social aspect in producing fields, and to maintain calm container areas on the oil fields and taking into account the feelings of the population which, and this issue is very important may contribute to the decline in the amount of production in the event of exit Folks demonstrations to demand financial receivables from companies Oil located near them. "
He said the "companies licensing the largest proportion rounds in the process of development of production and support, through its acquisition of large fields, a field Rumaila and the southern Majnoon field and fields west of Qurna and one Western Qurna two, which are of the most productive oil, while the rest of the other fields it reaches the percentage of production which to 400 000 barrels per day of which is deserved s national companies. "
He noted that "increase the amount of production to four million and a half million barrels per day, will not contribute to solving the financial crisis faced by the country, due to the significant decline of global oil prices, but will be limited to securing the operating budget only."
He pointed out that "the recent meeting of the Organization of Petroleum Exporting Countries said the oil prices will remain untouched for the time being with little more and no upside expectations, and we aspire to exceed the price per barrel of $ 50, in order to be safe from the risk of landing process and to provide the amount of financial liquidity of the country." .
He added by saying that he "was supposed to during the last meeting of the members of OPEC, that are increasing the share of Iraq's export, and thus be taken decision to increase the price of a barrel, but there was no consensus accepted by the member."
He expressed Oil Minister Adel Abdul Mahdi, the hope to reach an agreement to help lift oil prices, considering that the fair price of oil to $ 70-75 a barrel.
"Reuters" quoted Abdul-Mahdi as saying on the sidelines of the OPEC meeting that "the average Iraqi crude production will rise to 4.5 million barrels per day in 2016," asserting that "Iran has the right to increase production."
He and Abdul-Mahdi for "hope to reach an agreement to help raise prices next year," he said, adding that "the fair price of oil 70. 75 dollars a barrel."
The oil minister, Adel Abdul-Mahdi, confirmed on Thursday (December 20 153) in response to a question whether the country was ready to install production at the current level that "Iraq will remain on the crude oil production plans," while holding the oil ministers of OPEC meeting unofficially, before formal discussions scheduled on Friday, while Abdul-Mahdi confirmed that he was prepared to hold an open debate at the meeting.
The oil minister and head of Oil Marketing Company (SOMO) Falah al-Amiri had left Iraq, in (the first of the current December 2015) heading to Vienna to attend the regular meeting of OPEC, which was held last Friday.
In turn, the oil expert Ali Jalal punitive said in an interview for the "long" that "the arrival of Iraqi production of crude oil in 2016 to four million barrels exaggerated according to the economic outlook experienced by the country and of the financial crisis and the government's inability to pay the debt of foreign companies."
He added that "Iraq lacks the funds to be paid for foreign companies who bear the bulk of the increase in production from fields developed by the four licensing rounds held by the previous government, which had accumulated debts of up to millions of dollars in contracts."
He explained that the punitive "progressive collapse of oil prices over the past year put the current government in front of a large fiscal deficit in addition to the lack of infrastructure for storage and export ports and the renewal of the aging pipeline crude oil which passed its inception nearly three decades the transfer."
He said the "increase oil production by one million barrels a process is great need to lay the foundations Distillation and several paths include the development of all carrier lines and Alkhoznip record levels accommodate additional quantities of oil extracted."


http://www.almadapaper.net/ar/news/500542/%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D9%8A%D8%A9-%D8%AA%D8%B5%D8%AF%D9%8A%D8%B1-4-%D9%85%D9%84%D8%A7%D9%8A%D9%8A%D9%86-%D8%A8%D8%B1%D9%85%D9%8A%D9%84-%D9%8A%D9%88%D9%85%D9%8A