Oil: We are working to absorb the shock of falling prices to raise production with Iraqi companies

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Oil: We are working to absorb the shock of falling prices to raise production with Iraqi companies

Post  Admin on Sat Jan 24, 2015 11:07 am

Sat, 24 January 2 / January 2015 13:12


[Basra-where]

The Oil Ministry announced its intention to cooperate with the Iraqi oil companies, to implement its plan to raise crude output in order to avoid a crisis, the decline in oil prices.

A statement by the Iraqi Drilling Company, received by all of Iraq [where], a copy of it today, that "the oil ministry undersecretary Fayad al-Moussawi, met at the headquarters of the company in Albrjsuh west of Basra, with the South Oil Company and Missan Oil."

The statement quoted al-Moussawi said, "The Iraqi government is working to absorb the shock decline in oil prices through the implementation of the plan developed by the ministry to increase production."



"The Oil Ministry is working to increase oil production through cooperation between the Iraqi oil companies to implement its plan to raise the level of production."

He stressed that "the Iraqi oil companies have the ability to implement the ministry's plan, the holdings of modern drilling equipment and human resources with experience in the oil fields and reduce unnecessary expenditures."

He said al-Moussawi said that "the ministry dealing with technical and administrative barriers between national and foreign companies to increase drilling in this year."

The prime minister Haider al-Abadi, said on Friday, during a joint news conference with Kerry Hammond after the mini-meeting of the States and the international coalition, which was held today in London, said that "we discussed at the meeting the financial problem faced by Iraq and the countries of the international coalition put the program to stand by Iraq because we lost 40% of the economy because of lower oil prices, but Iraq is not a poor, we do not want to have to stop the international military support because of this crisis. "

The Oil Minister Adel Abdul-Mahdi, announced during hosted in the oil and energy parliamentary, last week, that "at the Oil Ministry's strategy to raise oil production to four million barrels per day," he said, adding that "the ministry will try to raise oil production to nearly five million barrels of oil per day in 2019, ".


http://www.alliraqnews.com/2014-06-14-07-34-14/164405-2015-01-24-09-23-34.html

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