Parliamentary power: oil companies operating in the Kurdistan region of reduced production due to non-payment of dues
15/03/2012 08:16

Baghdad, March 15 / March (Rn) - The Committee on Oil and Energy Parliament on Thursday that foreign oil companies operating in the Kurdistan region has reduced its oil production because of non-payment of the federal government for financial dues, as shown that the technical problems other than controlled was another reason decline in exports of the region's oil.

The Federal Ministry of Oil has revealed that the Kurdistan region to reduce its oil exports to almost two thirds of what is required to export of 175 thousand barrels of oil a day.

He said the Commission's decision Qassim Mohammed, told the Kurdish news agency (Rn), "The Kurdistan region signed with foreign companies for exploration and export of oil and signed an agreement with the federal government to take over payment of dues of those companies," but he also said, "but the federal government did not comply with the agreement."

He also explained that "the foreign oil companies reduced the export of oil a day to press for the payment of dues, and the decision is not a political decision but a decision of an economic return to the foreign companies."

Mohammed said that "Spbn others were behind the region's oil exports decline in first technical problems related to pressure pipes, and second, the Government of the Territory transformed quantities of oil to refineries for processing power plants because of the cold wave." He said.

And the decision of the Commission on oil Parliament that "the province of Basra planned to export 2.6 million barrels of oil a day, while the actual export the current is 2.2 million barrels a day because of technical problems, but not a little thing, are blamed on the Kurdistan region in spite of similar status."

According to the report of the Iraq National Oil Company SOMO, Iraq shipped 1.639 million barrels per day from the port of oil south of Basra in February, down from 1.711 million barrels per day in January, while the shipments from the northern fields around Kirkuk, 375 000 barrels per day in February compared with 395 thousand in January.

The report added that the reason for the decline in exports in February is the bad weather around the port of Basra as well as some technical problems in the northern Kirkuk oilfields.

Iraq hopes to raise its oil exports for the current year to 2.6 million barrels per day, of which 175 thousand barrels from the fields of the Kurdistan region. The total summed daily production of oil in Iraq, recently the level of three million barrels.

Oil accounts for about 95% of the proceeds of the country, where Iraq has huge oil reserves estimated at 115 billion barrels, and entered into contracts with foreign companies to raise the country's production to 12 million barrels per day by 2017.