Zebari confirm Iraq's commitment to financial guarantees of foreign oil companies


Finance Minister Hoshyar Zebari, the Iraqi government's keenness on securing financial guarantees required for all oil companies operating in Iraq's obligations, as pointed out that the government of these obligations included in the next federal budget law for 2016.
The Finance Ministry said in a statement received (range Press) copy of it, "Finance Minister Hoshyar Zebari, met in the office of the ministry's headquarters yesterday, a high-level Italian oil company Eni advisor in Iraq to APOP Bstyli and his accompanying delegation."
The statement added that "Zebari discuss the company's business and the possibilities available to them," stressing "the government's keenness on securing commitments and financial guarantees required for all oil companies operating in Iraq."
The statement quoted the finance minister as saying, "The Iraqi government listed all the commitments in the federal budget for the 2016 law, and cover larger than it was in the budget of 2015, in implementation of the policy in Iraq to increase oil production."
Decreased world oil prices, after the Organization of Petroleum Exporting Countries to keep current production ceiling without cutting, with WTO members agreed to raise the production quota of its members, experts stressed the need for the reduction comes from members outside the Organization of Petroleum Exporting especially in the United States.

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