Oil: Stop burning gas will save Iraq $ 6 billion

Oil Minister Jabbar al-Luaibi announced on Sunday that Iraq will generate more than $ 6 billion in financial revenues after the burning of gas in mid-2021.

He said Allaibi, in a press conference held at the ministry and attended by "Economy News", "The ministry has made important leaps in the production of crude oil as well as the optimal investment of gas and a very high rate than it was," adding, "We work to conclude agreements with international companies to invest gas and It is hoped that Iraq will stop the burning of gas by mid-2021, which will achieve financial returns to maximize the federal treasury more than $ 6 billion annually as well as the environmental and health impact of the surrounding oil fields.

He pointed out that "the employees of the refineries of the North managed to restart the refinery of modern capacity of 10 thousand barrels," adding that "the restart of the refinery as a cornerstone in the process of reconstruction of areas liberated from terrorist gangs (Dahesh), has resulted in efforts to restore the refinery to Providing fuel for a modern power station and providing the necessary services to the residents of the region despite the difficulties facing the work of the teams concerned with the rehabilitation and rehabilitation of some oil facilities in the areas that were finally liberated. "

He explained that "the ministry's staff in the North Refineries Company and other companies are currently working with great efforts to continue the night by day to restart the refineries of China and the crack and unit Salahuddin / 1 in the refinery Baiji."

He pointed out that "the ministry has developed strategic plans to increase production of oil derivatives and reduce the proportion of imports, through the introduction of investment projects to establish five refineries in the center, south and north of the country."

He added that "the ministry had begun the rehabilitation and reconstruction of the Qayara field and the operation of the refinery Qayyarah to secure the need of the surrounding areas of petroleum products, and increased energy production and included the reconstruction of the Qayara field rehabilitation of a number of damaged wells and the ministry seeks to rebuild all other oil wells and provide fuel for the power station" .

He pointed out that "the efforts of the Ministry continues to rebuild the government fuel filling stations in the province of Nineveh and liberated areas, including the cities of Tal Afar and Hawija and meet the needs of citizens and families and camps displaced."

"The Iraqi company for transport services and oil trade began processing the first global tanker with operational fuel (Bunker) after the installation of a new system of processing in the territorial waters for the processing of tankers fuel, which is a major achievement comes after a break of 30 years."

He said that "the Iraqi Company for Transport Services and Trade Oil has become the main supplier of operational fuel (bunker) for all ships and tankers of oil and gas that harbor the Iraqi ports."

On Iraq's relations with producers from OPEC and beyond, the oil minister stressed "Iraq's commitment to the agreement to reduce production and the unity of the Organization of OPEC in the face of the challenges of the oil market and the measures taken by it to rebalance global markets and to support oil prices."

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