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Hafiz: Storage weakness and lack of demand for oil major cause of degradation of the Iraqi economy
4/13/2015
(Independent) ... attributed to the oil and energy parliamentary member Mehdi al-Hafez, cause degradation of the Iraqi economy to the weakness of the oil storage and lack of foreign demand for Iraqi oil. He said Hafiz's (Independent), that the cause of the Iraqi economy from oil deterioration is mismanagement Alnaftyo, in addition to poor infrastructure, storage and export of oil outside the country did not meet, adding, that the greatest responsibility lies with the bad management of the oil and the lack of readiness of infrastructure manner that parallels Iraq's oil reserves, "noting that" the export is still less than the level in spite of the studies predicted that Iraq's export up to three million barrels per day by the end of 2014 ".
The Prime Minister Haider al-Abadi, called on Sunday to achieve planned rates of increase in oil production and activation of various economic sectors.
And Abadi said while chairing a meeting of the Committee on cell ministerial crisis, the presence of ministers of oil, finance and planning, as well as the Governor of the Central Bank and a group of advisers and specialists, "the importance of follow-up economic and financial situation in order to ensure the continuation of the pace of economic activity, despite the significant decline in oil revenues," and urged the need to "adopt a set of procedures to ensure the achievement of the planned rate increase in oil production, and activate the various sectors of the economy."
The cabinet in the decided, 20 of January 2015, the formation of a crisis cell headed by the prime minister, Haider Abadi, and the membership of finance ministers and oil and planning, as well as the Governor of the Central Bank and the Chancellor economic prime minister, to set priorities for the government and the doors of the exchange and to reduce costs and increase financial resources , with the help of experts and specialists.
Iraq has suffered from a severe financial crisis as a result of lower oil prices nearly 60 percent compared to what it was last summer, as well as the repercussions of the face (Daash). (End) / P /
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4/13/2015
(Independent) ... attributed to the oil and energy parliamentary member Mehdi al-Hafez, cause degradation of the Iraqi economy to the weakness of the oil storage and lack of foreign demand for Iraqi oil. He said Hafiz's (Independent), that the cause of the Iraqi economy from oil deterioration is mismanagement Alnaftyo, in addition to poor infrastructure, storage and export of oil outside the country did not meet, adding, that the greatest responsibility lies with the bad management of the oil and the lack of readiness of infrastructure manner that parallels Iraq's oil reserves, "noting that" the export is still less than the level in spite of the studies predicted that Iraq's export up to three million barrels per day by the end of 2014 ".
The Prime Minister Haider al-Abadi, called on Sunday to achieve planned rates of increase in oil production and activation of various economic sectors.
And Abadi said while chairing a meeting of the Committee on cell ministerial crisis, the presence of ministers of oil, finance and planning, as well as the Governor of the Central Bank and a group of advisers and specialists, "the importance of follow-up economic and financial situation in order to ensure the continuation of the pace of economic activity, despite the significant decline in oil revenues," and urged the need to "adopt a set of procedures to ensure the achievement of the planned rate increase in oil production, and activate the various sectors of the economy."
The cabinet in the decided, 20 of January 2015, the formation of a crisis cell headed by the prime minister, Haider Abadi, and the membership of finance ministers and oil and planning, as well as the Governor of the Central Bank and the Chancellor economic prime minister, to set priorities for the government and the doors of the exchange and to reduce costs and increase financial resources , with the help of experts and specialists.
Iraq has suffered from a severe financial crisis as a result of lower oil prices nearly 60 percent compared to what it was last summer, as well as the repercussions of the face (Daash). (End) / P /
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