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Shaways: Iraq lost half its oil revenues after the collapse of prices in the world
BAGHDAD - Iraq Press - January 24: Deputy Prime Minister Ruz Nuri Shaways, that Iraq has 50% of its revenues due to lower oil prices, stressing the need to raise oil exports in order to compensate for lower prices.
Shaways said at the World Economic Forum held in Davos, Switzerland resort, "Given the new challenges, especially with regard to oil prices, the Iraq must make every effort to raise oil production and exports."
He added that "Iraq has 50 percent of its revenue due to the recession, the oil sector, and that an agreement has been over the last month between the federal government in Baghdad and the Kurdistan Regional Government to increase exports by 550 000 barrels per day."
The Oil Minister Adel Abdul-Mahdi had expected to see the second half or the last of this year, a surge in oil prices, expressing his belief not to return prices to what it was during the past years.
It is noteworthy that global oil prices have seen a significant decrease is the first of its kind in five years, which led to many of the affected countries, including Iraq. Admiral ended
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BAGHDAD - Iraq Press - January 24: Deputy Prime Minister Ruz Nuri Shaways, that Iraq has 50% of its revenues due to lower oil prices, stressing the need to raise oil exports in order to compensate for lower prices.
Shaways said at the World Economic Forum held in Davos, Switzerland resort, "Given the new challenges, especially with regard to oil prices, the Iraq must make every effort to raise oil production and exports."
He added that "Iraq has 50 percent of its revenue due to the recession, the oil sector, and that an agreement has been over the last month between the federal government in Baghdad and the Kurdistan Regional Government to increase exports by 550 000 barrels per day."
The Oil Minister Adel Abdul-Mahdi had expected to see the second half or the last of this year, a surge in oil prices, expressing his belief not to return prices to what it was during the past years.
It is noteworthy that global oil prices have seen a significant decrease is the first of its kind in five years, which led to many of the affected countries, including Iraq. Admiral ended
[You must be registered and logged in to see this link.]
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