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Iraq: the decline in oil prices, "emergency situation" will be gone
2/22/15
BAGHDAD - dpa: Iraqi Oil Minister Adel Abdul-Mahdi said that the price of crude oil in the current global market does not represent the actual value of crude oil, which is the main source of energy in the world but it is an emergency situation will be gone demise causes. Said Abdul-Mahdi, through his on the social networking site "Facebook" "These prices do not represent the actual value of the oil, which is the main source of energy now and for decades, which is also outside the expectations of the international organizations that put prices in excess of $ percent for the next ten years, The decline is not the case authentic emergency situation will be gone but the demise of the causes. "
"We will move Iraq as a more centrist states to communicate with all countries and bring the views down to the strengthening of relations in order to serve everyone, which establishes the participants Association can displace a lot of reasons for differences and differences and thus to control prices in the interests of the global economy." He believed that "the oil may bring to the policy of what has failed the same policy," explaining: "This strategy, as well as direct usefulness of the Iraqi economy and improvement of reality as a whole would contribute effectively to pull the fuse major crises in the region and invested to make peace. "
Iraq's oil minister and likely to recover oil prices rebound during the second half of this year to exceed the ceiling of $ 60 per barrel. Said Abdul-Mahdi, "oil prices will return to rise during the second half of this year and will exceed the price of a barrel more than $ 60."
Iraq is facing great financial hardship as a result of low oil prices, which forced him to issue a budget austerity for the current year is almost entirely dependent on oil revenues. On the other hand, Adel Abdul-Mahdi called for the creation of a huge new facilities for the extraction of crude oil in Iraq to reduce the damage caused by the drop in oil prices in the global market.
Abdul-Mahdi said that "the creation of a huge new oil extraction facilities will enhance our project to raise the amount of production and Brphi will contribute to the general budget of the country's imports, and it will also reduce the vulnerability of Iraq down oil prices in the global market." And raise Iraq earlier this year levels of crude oil production to unprecedented levels.
Iraq seeks during the current year to raise crude oil exports to levels of 3.3 million barrels per day to ensure the requirements of the federal budget for the current year. Fallen Iraqi crude oil exports from the southern fields in January from record highs, according to data of the load and the sources of oil which disrupted delays in shipping supply growth from the second-largest oil producer in OPEC.
Despite landing Iraq still aims to increase supplies in 2015, a prospect that worries some members of the organization due to the abundance of supply and falling oil prices to their lowest levels since 2009. Exports from the ports of southern Iraq, 2.67 million barrels per day on average, according to shipping data in the first eight days of the twenty-January January and monitored by Reuters and sources of oil, down from a record $ 2.
76 million barrels per day in December. The southern fields produce the bulk of Iraq's production is the main harbors in the south port to world markets. Iraq continued to pump oil from the region despite the unrest due to the distance from the areas controlled by the militants to organize the Islamic state.
He said the source of the oil loading crashes due to a technical fault in a shipping marine platforms in January, which led to a slowdown in exports.
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2/22/15
BAGHDAD - dpa: Iraqi Oil Minister Adel Abdul-Mahdi said that the price of crude oil in the current global market does not represent the actual value of crude oil, which is the main source of energy in the world but it is an emergency situation will be gone demise causes. Said Abdul-Mahdi, through his on the social networking site "Facebook" "These prices do not represent the actual value of the oil, which is the main source of energy now and for decades, which is also outside the expectations of the international organizations that put prices in excess of $ percent for the next ten years, The decline is not the case authentic emergency situation will be gone but the demise of the causes. "
"We will move Iraq as a more centrist states to communicate with all countries and bring the views down to the strengthening of relations in order to serve everyone, which establishes the participants Association can displace a lot of reasons for differences and differences and thus to control prices in the interests of the global economy." He believed that "the oil may bring to the policy of what has failed the same policy," explaining: "This strategy, as well as direct usefulness of the Iraqi economy and improvement of reality as a whole would contribute effectively to pull the fuse major crises in the region and invested to make peace. "
Iraq's oil minister and likely to recover oil prices rebound during the second half of this year to exceed the ceiling of $ 60 per barrel. Said Abdul-Mahdi, "oil prices will return to rise during the second half of this year and will exceed the price of a barrel more than $ 60."
Iraq is facing great financial hardship as a result of low oil prices, which forced him to issue a budget austerity for the current year is almost entirely dependent on oil revenues. On the other hand, Adel Abdul-Mahdi called for the creation of a huge new facilities for the extraction of crude oil in Iraq to reduce the damage caused by the drop in oil prices in the global market.
Abdul-Mahdi said that "the creation of a huge new oil extraction facilities will enhance our project to raise the amount of production and Brphi will contribute to the general budget of the country's imports, and it will also reduce the vulnerability of Iraq down oil prices in the global market." And raise Iraq earlier this year levels of crude oil production to unprecedented levels.
Iraq seeks during the current year to raise crude oil exports to levels of 3.3 million barrels per day to ensure the requirements of the federal budget for the current year. Fallen Iraqi crude oil exports from the southern fields in January from record highs, according to data of the load and the sources of oil which disrupted delays in shipping supply growth from the second-largest oil producer in OPEC.
Despite landing Iraq still aims to increase supplies in 2015, a prospect that worries some members of the organization due to the abundance of supply and falling oil prices to their lowest levels since 2009. Exports from the ports of southern Iraq, 2.67 million barrels per day on average, according to shipping data in the first eight days of the twenty-January January and monitored by Reuters and sources of oil, down from a record $ 2.
76 million barrels per day in December. The southern fields produce the bulk of Iraq's production is the main harbors in the south port to world markets. Iraq continued to pump oil from the region despite the unrest due to the distance from the areas controlled by the militants to organize the Islamic state.
He said the source of the oil loading crashes due to a technical fault in a shipping marine platforms in January, which led to a slowdown in exports.
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