Parliamentary Energy calls for the monitoring of the oil projects financial allocations within the 2017 budget

2016/09/04 14:21

Long-Presse / Baghdad

Called for the Oil and Energy Committee in the House of Representatives, on Sunday, the government allocation of financial liquidity to oil projects within the next year's budget in 2017 to increase oil production, while confirming that the production will reach five million barrels a day early next year.

He said the Commission on oil and energy parliamentary member Zaher al-Abadi, said in an interview to the (long-Presse), said that "our dependence mainly to increase oil production licensing round fields, the fact that the national effort fields up production to 300 thousand barrels," noting that "oil production will arrive in the first quarter of next year in 2017 to five million barrels a day. "

He called al-Abadi, the government to "provide financial liquidity into next year's budget in 2017 for the oil infrastructure projects to increase production in order to increase the volume of exports, which include laying pipes and building reservoirs," adding, "These projects are interrelated for the delivery of crude oil to the ports."

The Iraqi Oil Ministry announced on Thursday, (the first of September 2016), recording higher exports of Iraq's oil amounted to more than 100 million barrels of central and southern fields during the month of August, as revealed that daily exports from the ports of southern Iraq, the rate of more than three million barrels, pointed out that the imports amounted to about four billion dollars.

Iraq is seeking to increase the volume of crude oil production and exports to offset the drop in oil prices to global prices, and used the global companies within the licensing round, to increase the production of oil fields.