Iraq looking with world oil companies boost production

2016/06/02 15:45


The Iraqi oil Ministry announced Thursday to hold talks and discussions with international oil companies to maintain levels of oil production and increase rates.

Oil Minister Adel Abdul Mahdi reporters moved Russian news and Sputnik site kept after him (long press), that "we are now in discussions with international oil companies for the purpose of inviting investors to continue their work for future increase in oil production and maintain certain production levels."

The Iraqi oil Ministry were expected, Thursday (2 June 2016), higher oil prices to $ 65 during the second half of the year 2016.

Iraq confirmed on Wednesday (25 may 2016), his intention to override parameters that hinder increased oil production and bringing it back to the standard level achieved by early 2016 current four million and 800 thousand barrels per day, while universally known economic newspaper said that turning the financial crisis facing Baghdad without realizing its ambition to produce about six million barrels by 2020.

Index was Brent register, Thursday, (26 May 2016), a rise of 1.2% to $ 50.34 a barrel for the first time this year, with analysts attributed the rise to increased demand for crude oil from the world's top oil consumers, confirmed continuing high oil prices this year.

Iraq is the second largest oil producer in OPEC, with the other members of the Organization, such as Saudi Arabia, Kuwait and the United Arab Emirates and Iran to increase oil exports in the third quarter of the current 2016, as Iraq tries to skip the standard rate for current exports to three million and 370 million barrels, during June, feel in the footsteps of other oil producers in the Middle East to increase their shares in s such as the meeting of the members of the Organization of petroleum exporting countries (OPEC) early this month.