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Abdul-Mahdi is likely to double the current actual production 2020 stresses the fight against corruption and the role of the private sector
Range press/Baghdad
The Iraqi oil Minister, ruled out Monday the possibility of producing 12 or up to nine million barrels per day in 2020, while likely to be double output "current" by that date if it is to attract major global companies to rehabilitate its facilities, he stressed the need to fight corruption and improve governance and effective private sector.
This came in an interview to British newspaper the Telegraph The Telegraph with the Iraqi oil Minister, Adel Abdul Mahdi, in Vienna, on the sidelines of his participation in the meetings of the Organization of petroleum exporting countries (OPEC), and seen it (press term).
Abdul-Mahdi said, to "organize daash is no longer a threat to vital oil installations in the country", adding that "the Iraqi Government seeks to carry out comprehensive reforms to root out corruption and reduce expenditure and increase oil production by 2020".
The Minister added that "Iraqi forces inflicted serious losses daash organized in recent weeks, particularly in the area of Baiji in Northern Salahuddin province, with the help of coalition air strikes," he said, adding that the "Baiji became locked in full."
Abdul-Mahdi, said that "security forces performed well in support of flying the international coalition, and managed to liberate much of the territory that was controlled by daash," returned to "daash no longer find a safe place in Iraq."
According to the Telegraph, "the Iraqi oil Ministry had previously said they would be able to end the current contract of nearly 12 million barrels pumped a day by opening up to international oil companies to extract more reserves estimated at 144 billion barrels."
The Iraqi oil Minister, according to the British newspaper, that "some of those Iraqi aspirations are unrealistic," returned to "double production to six million bpd by 2020 would be possible provided that the country will attract a sufficient level of oil investments that will require drilling c hand and improving the infrastructure of existing facilities that require a lot of maintenance and rehabilitation after decades of instability."
The British newspaper said that "Iraq is trying to maintain this strategy despite the current downturn in oil prices reaching 70 dollars a barrel as OPEC's calls for a production cut to boost prices.
The Telegraph, that "Iraq needs oil prices stand at $ 80 a barrel for a balanced," adding that "Abdul Mahdi described OPEC's decision to keep the same production rate is bad".
The paper said, "it does not prevent the country from pursuing ambitious goals over the next five years to increase crude oil exports."
The Telegraph quoted the Iraqi oil Minister, as saying that "talk of producing 12 million barrels is overrated", saying that "nine million barrels are a lot too."
Abdel Mahdi expressed his belief that "Iraq could double the current actual output by 2020 and beyond", adding: "but the subject is linked to investment in the oil industry with installations and pipelines across the country, as well as go for gas export, and has achieved all this before 2020."
The newspaper continued, based on the word of Iraqi oil Minister Adel Abdul Mahdi, "to increase the production of Iraq at the rate of 1 million barrels would require him to invest at least five billion dollars."
Abdul-Mahdi said, according to the Telegraph, "it's the most vital that Iraq do now with living under pressure of falling prices is guaranteed to bring foreign investment to the country's oil industry, from giant companies, such as my shell and British Petroleum BP British currently operating in the southern Majnoon field and Rumaila, which are the largest oil fields in Iraq."
The Telegraph quoted the Iraqi oil Minister, was quoted as saying during his meeting with senior officials of shell, on the sidelines of the OPEC Conference, "the British company BP BP runs the largest field in the country, which is almost half of the production fields of the South, and is also interested in the Kirkuk field," adding that "shell has interests in Iraq and the Ministry was very interested in the topic."
The British newspaper said that "by victories in organizing daash and oil investments, the oil Minister of the world's top companies, the biggest challenge facing now is to achieve broader reforms in the Ministry of oil through its campaign against corruption".
Abdul-Mahdi said, speaking to the newspaper, that "corruption is not stealing the money, but also the manner in which it is administered, we sow a lot of money and we have to stop it," "the economy, which is run by the State only, often hit by corruption, so we need the private sector to cope with that."
The oil Minister, saying "Iraq needs good management, there is a lot of corruption in the country because of money easily, so the priority lies in reform of the management side," and if "check out what they think that Iraq would be a good financial position, because the problem that we endure the country's not only revenues but also dispensing, goes where most of the wages and salaries and subsidies, the country has gone too far in this approach and this is a big problem."
The Iraq currently produces nearly three million barrels a day, and he plans to produce nine million bpd by 2020, also former Deputy Prime Minister for Energy Affairs, Hussein Al-Shahristani, in (18 December 2013), through its participation in the Japan-Arab Economic Forum in Tokyo.
Recall also that the fight against corruption is one of the priorities of the Government, Haider Al-Abadi, a challenge to the security of the Iraqi Government since the US-led war on Iraq in 2003, and has reached levels of corruption in Iraq prompted the leading specialized international organizations to place it among the most corrupt countries in the world.
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Range press/Baghdad
The Iraqi oil Minister, ruled out Monday the possibility of producing 12 or up to nine million barrels per day in 2020, while likely to be double output "current" by that date if it is to attract major global companies to rehabilitate its facilities, he stressed the need to fight corruption and improve governance and effective private sector.
This came in an interview to British newspaper the Telegraph The Telegraph with the Iraqi oil Minister, Adel Abdul Mahdi, in Vienna, on the sidelines of his participation in the meetings of the Organization of petroleum exporting countries (OPEC), and seen it (press term).
Abdul-Mahdi said, to "organize daash is no longer a threat to vital oil installations in the country", adding that "the Iraqi Government seeks to carry out comprehensive reforms to root out corruption and reduce expenditure and increase oil production by 2020".
The Minister added that "Iraqi forces inflicted serious losses daash organized in recent weeks, particularly in the area of Baiji in Northern Salahuddin province, with the help of coalition air strikes," he said, adding that the "Baiji became locked in full."
Abdul-Mahdi, said that "security forces performed well in support of flying the international coalition, and managed to liberate much of the territory that was controlled by daash," returned to "daash no longer find a safe place in Iraq."
According to the Telegraph, "the Iraqi oil Ministry had previously said they would be able to end the current contract of nearly 12 million barrels pumped a day by opening up to international oil companies to extract more reserves estimated at 144 billion barrels."
The Iraqi oil Minister, according to the British newspaper, that "some of those Iraqi aspirations are unrealistic," returned to "double production to six million bpd by 2020 would be possible provided that the country will attract a sufficient level of oil investments that will require drilling c hand and improving the infrastructure of existing facilities that require a lot of maintenance and rehabilitation after decades of instability."
The British newspaper said that "Iraq is trying to maintain this strategy despite the current downturn in oil prices reaching 70 dollars a barrel as OPEC's calls for a production cut to boost prices.
The Telegraph, that "Iraq needs oil prices stand at $ 80 a barrel for a balanced," adding that "Abdul Mahdi described OPEC's decision to keep the same production rate is bad".
The paper said, "it does not prevent the country from pursuing ambitious goals over the next five years to increase crude oil exports."
The Telegraph quoted the Iraqi oil Minister, as saying that "talk of producing 12 million barrels is overrated", saying that "nine million barrels are a lot too."
Abdel Mahdi expressed his belief that "Iraq could double the current actual output by 2020 and beyond", adding: "but the subject is linked to investment in the oil industry with installations and pipelines across the country, as well as go for gas export, and has achieved all this before 2020."
The newspaper continued, based on the word of Iraqi oil Minister Adel Abdul Mahdi, "to increase the production of Iraq at the rate of 1 million barrels would require him to invest at least five billion dollars."
Abdul-Mahdi said, according to the Telegraph, "it's the most vital that Iraq do now with living under pressure of falling prices is guaranteed to bring foreign investment to the country's oil industry, from giant companies, such as my shell and British Petroleum BP British currently operating in the southern Majnoon field and Rumaila, which are the largest oil fields in Iraq."
The Telegraph quoted the Iraqi oil Minister, was quoted as saying during his meeting with senior officials of shell, on the sidelines of the OPEC Conference, "the British company BP BP runs the largest field in the country, which is almost half of the production fields of the South, and is also interested in the Kirkuk field," adding that "shell has interests in Iraq and the Ministry was very interested in the topic."
The British newspaper said that "by victories in organizing daash and oil investments, the oil Minister of the world's top companies, the biggest challenge facing now is to achieve broader reforms in the Ministry of oil through its campaign against corruption".
Abdul-Mahdi said, speaking to the newspaper, that "corruption is not stealing the money, but also the manner in which it is administered, we sow a lot of money and we have to stop it," "the economy, which is run by the State only, often hit by corruption, so we need the private sector to cope with that."
The oil Minister, saying "Iraq needs good management, there is a lot of corruption in the country because of money easily, so the priority lies in reform of the management side," and if "check out what they think that Iraq would be a good financial position, because the problem that we endure the country's not only revenues but also dispensing, goes where most of the wages and salaries and subsidies, the country has gone too far in this approach and this is a big problem."
The Iraq currently produces nearly three million barrels a day, and he plans to produce nine million bpd by 2020, also former Deputy Prime Minister for Energy Affairs, Hussein Al-Shahristani, in (18 December 2013), through its participation in the Japan-Arab Economic Forum in Tokyo.
Recall also that the fight against corruption is one of the priorities of the Government, Haider Al-Abadi, a challenge to the security of the Iraqi Government since the US-led war on Iraq in 2003, and has reached levels of corruption in Iraq prompted the leading specialized international organizations to place it among the most corrupt countries in the world.
[You must be registered and logged in to see this link.]
