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Oil Minister: Iraq paid dues to international oil companies
2015/04/03
Iraqi oil Minister Adel Abdul Mahdi said Iraq paid dues to international oil companies, and that Iraq's oil production of 3.3 million barrels a day, Iran welcomed the agreement and lifting sanctions, adding that it will restore balance to the world oil market.
Baghdad/Obelisk: Iraqi oil Minister Adel Abdul Mahdi, on Saturday, Baghdad had paid dues to international oil companies, and managed to solve the problem by allocating funds from the budget of up to $ 12 billion, and issued Treasury bonds with the same value, pointing out that benefits companies by 2014 reach nine billion dollars paid in 2015, and that the amounts due to be paid in each quarter of 2015 four billion dollars, to pay dues for the last quarter of this year, early next year.
In an interview with journalists in the Iraqi Embassy in Paris in the presence of Iraqi Ambassador Farid Yasin, Abdul-Mahdi said the newspaper Al-Hayat published Friday and his disciple "Obelisk" on the letter sent by the Ministry to international oil companies, "we asked them to cut expenditures not affecting production".
He noted that Iraq's oil production of 3.3 million barrels a day, pointing out that precise information on the production of Kurdistan and said, "I'm not quite sure of its size because we don't get accurate information, but know that what comes from the Turkish port of Ceyhan to about 400,000 barrels a day, and if we increased around 125 to 130 thousand barrels a day for domestic consumption in Kurdistan, Iraqi production is between 3.7 and 3.8 million barrels per day."
Announced the signing of a memorandum of understanding with the French Ministry of industry, which is total participation in the building of petrochemical plant in the South of the country.
Asked about the impact of falling oil prices on Iraqi production target, he said, "we aim to bring production to 12 million barrels per day after a seven-year, we reduced this past year to 9 million barrels a day, with an extended period, sometimes for some companies to 15 years to achieve the goal."
Abdul-Mahdi said Iraq negotiates international companies, there are ideas to improve contracts. And the adoption of the partnership in production contracts with companies, he replied, "such contracts in Kurdistan (...)We do not need to participate in the production, but to give elements to attract and encourage businesses and may not change the service contracts but also include some additional items as incentives for companies to work when the price of oil or when dipping, to be more flexible "contracts.
He noted that "the war against the oil situation affect daash, since March 2014 stopped production in Kirkuk and Baiji refinery were disrupted after June, but now had returned to Kirkuk 600 thousand barrels (...). Daash dominated several fields like his change weagil, Klaas, and attacked a Baker. I visited the region last month, found that the oil industry was very impressed, and the network of pipelines between Kirkuk and Baghdad were sometimes as a result of the status quo, and shortly before freeing a Baker weagil (...)And restore calm gradually, can repair and restore the big refinery completely. "
And the agreement with the Government in December last year, complained the Kurds that they are not receiving funds agreed, said Abdel Mahdi, "the first phase with the Kurdish government, was to rebuild the trust that the Central Government of the region to 550,000 barrels of oil in Exchange for paying $ 450 million to him."
He added, "the second phase had been agreed to pay per month for Iraqi Kurdistan 17 percent of the budget (...). Things went on well with some obstacles, but the rate of the exported from Ceyhan, barrels, initially the Kurdistan Government gives about one third of this amount and the rest, but finally we have two-thirds of that amount and issue one-third ".
And the position of the Iraqi policy of OPEC's production, said, "it is too early to declare our position, this is based on our analysis of the market." Asked about the influence of Iran in the oil market's return, he replied, "we would be happy if there was agreement between Iran and the six countries on the nuclear file (...). More oil on the market would affect the price, but the satisfaction area gives hope and may affect the market. "
French President Francois hollande met with Abdul-Mahdi, who chaired the meeting of the French-Iraqi Joint Commission held their meeting in Paris.
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2015/04/03
Iraqi oil Minister Adel Abdul Mahdi said Iraq paid dues to international oil companies, and that Iraq's oil production of 3.3 million barrels a day, Iran welcomed the agreement and lifting sanctions, adding that it will restore balance to the world oil market.
Baghdad/Obelisk: Iraqi oil Minister Adel Abdul Mahdi, on Saturday, Baghdad had paid dues to international oil companies, and managed to solve the problem by allocating funds from the budget of up to $ 12 billion, and issued Treasury bonds with the same value, pointing out that benefits companies by 2014 reach nine billion dollars paid in 2015, and that the amounts due to be paid in each quarter of 2015 four billion dollars, to pay dues for the last quarter of this year, early next year.
In an interview with journalists in the Iraqi Embassy in Paris in the presence of Iraqi Ambassador Farid Yasin, Abdul-Mahdi said the newspaper Al-Hayat published Friday and his disciple "Obelisk" on the letter sent by the Ministry to international oil companies, "we asked them to cut expenditures not affecting production".
He noted that Iraq's oil production of 3.3 million barrels a day, pointing out that precise information on the production of Kurdistan and said, "I'm not quite sure of its size because we don't get accurate information, but know that what comes from the Turkish port of Ceyhan to about 400,000 barrels a day, and if we increased around 125 to 130 thousand barrels a day for domestic consumption in Kurdistan, Iraqi production is between 3.7 and 3.8 million barrels per day."
Announced the signing of a memorandum of understanding with the French Ministry of industry, which is total participation in the building of petrochemical plant in the South of the country.
Asked about the impact of falling oil prices on Iraqi production target, he said, "we aim to bring production to 12 million barrels per day after a seven-year, we reduced this past year to 9 million barrels a day, with an extended period, sometimes for some companies to 15 years to achieve the goal."
Abdul-Mahdi said Iraq negotiates international companies, there are ideas to improve contracts. And the adoption of the partnership in production contracts with companies, he replied, "such contracts in Kurdistan (...)We do not need to participate in the production, but to give elements to attract and encourage businesses and may not change the service contracts but also include some additional items as incentives for companies to work when the price of oil or when dipping, to be more flexible "contracts.
He noted that "the war against the oil situation affect daash, since March 2014 stopped production in Kirkuk and Baiji refinery were disrupted after June, but now had returned to Kirkuk 600 thousand barrels (...). Daash dominated several fields like his change weagil, Klaas, and attacked a Baker. I visited the region last month, found that the oil industry was very impressed, and the network of pipelines between Kirkuk and Baghdad were sometimes as a result of the status quo, and shortly before freeing a Baker weagil (...)And restore calm gradually, can repair and restore the big refinery completely. "
And the agreement with the Government in December last year, complained the Kurds that they are not receiving funds agreed, said Abdel Mahdi, "the first phase with the Kurdish government, was to rebuild the trust that the Central Government of the region to 550,000 barrels of oil in Exchange for paying $ 450 million to him."
He added, "the second phase had been agreed to pay per month for Iraqi Kurdistan 17 percent of the budget (...). Things went on well with some obstacles, but the rate of the exported from Ceyhan, barrels, initially the Kurdistan Government gives about one third of this amount and the rest, but finally we have two-thirds of that amount and issue one-third ".
And the position of the Iraqi policy of OPEC's production, said, "it is too early to declare our position, this is based on our analysis of the market." Asked about the influence of Iran in the oil market's return, he replied, "we would be happy if there was agreement between Iran and the six countries on the nuclear file (...). More oil on the market would affect the price, but the satisfaction area gives hope and may affect the market. "
French President Francois hollande met with Abdul-Mahdi, who chaired the meeting of the French-Iraqi Joint Commission held their meeting in Paris.
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