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Iraq paid off $ 9 billion of receivables foreign oil companies
8/24/15
BAGHDAD - (DPA) announced Iraq's oil minister Adel Abdul Mahdi on Monday that Iraq pay $ 9 billion of foreign oil companies operating in Iraq as a share of its planned 2014. He said Abdul-Mahdi said in a statement through his page in the social networking site (Facebook) that "the Iraqi oil sector to achieve more successes despite all the financial difficulties and the deterioration of oil prices, security, social and economic conditions and disorders that affect everyone and the Oil Ministry with the assistance of the Ministry of Finance and the Central Bank and the support of Prime Council of Ministers to pay $ 9 billion for the rest of 2014 dues to oil companies. " He added that he was "the payment of the first quarter of 2015 dues and works to pay off the second chapter in these days and the third quarter will be repaid by the end of the year and, as usual, will be repaid after the submission of the fourth quarter costs at the beginning of 2016." He explained that Iraq "Atdarc with foreign oil companies and means of reducing costs and linking oil price fluctuations for the benefit of the parties at higher prices or bear their burdens when they fall together." Abdul-Mahdi said: "In the field of production of crude oil oil / Basra heavy / put on the market next / Basra light led to a rapid increase in production starting from June last by 300-200 thousand barrels per day, which achieved an estimated B250-220 million monthly resources dollars a month even with the calculation of heavy oil for light oil price difference will exceed exports from Iraq's southern ports with the end of the year what was estimated in the budget of 2015, 750.2 million barrels per day, since June, Iraq exported from the southern ports of more than 3 million barrels per day. " . He said: "If you received the Iraqi Oil Marketing Company (SOMO) what has been agreed with the Kurdistan Regional Government in accordance with the federal public budget for Iraq for the current year to exceed Iraq's exports budget amounting to 3-year estimates three million barrels a day to exceed 5.3 million barrels per day, especially if we add 250-200 thousand barrels daily supplied to the Ministry of Electricity and far surpassed what we committed ourselves to do in the budget estimates for 2015, which contributed in no small part to alleviate some of the burden of lower oil prices. "
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8/24/15
BAGHDAD - (DPA) announced Iraq's oil minister Adel Abdul Mahdi on Monday that Iraq pay $ 9 billion of foreign oil companies operating in Iraq as a share of its planned 2014. He said Abdul-Mahdi said in a statement through his page in the social networking site (Facebook) that "the Iraqi oil sector to achieve more successes despite all the financial difficulties and the deterioration of oil prices, security, social and economic conditions and disorders that affect everyone and the Oil Ministry with the assistance of the Ministry of Finance and the Central Bank and the support of Prime Council of Ministers to pay $ 9 billion for the rest of 2014 dues to oil companies. " He added that he was "the payment of the first quarter of 2015 dues and works to pay off the second chapter in these days and the third quarter will be repaid by the end of the year and, as usual, will be repaid after the submission of the fourth quarter costs at the beginning of 2016." He explained that Iraq "Atdarc with foreign oil companies and means of reducing costs and linking oil price fluctuations for the benefit of the parties at higher prices or bear their burdens when they fall together." Abdul-Mahdi said: "In the field of production of crude oil oil / Basra heavy / put on the market next / Basra light led to a rapid increase in production starting from June last by 300-200 thousand barrels per day, which achieved an estimated B250-220 million monthly resources dollars a month even with the calculation of heavy oil for light oil price difference will exceed exports from Iraq's southern ports with the end of the year what was estimated in the budget of 2015, 750.2 million barrels per day, since June, Iraq exported from the southern ports of more than 3 million barrels per day. " . He said: "If you received the Iraqi Oil Marketing Company (SOMO) what has been agreed with the Kurdistan Regional Government in accordance with the federal public budget for Iraq for the current year to exceed Iraq's exports budget amounting to 3-year estimates three million barrels a day to exceed 5.3 million barrels per day, especially if we add 250-200 thousand barrels daily supplied to the Ministry of Electricity and far surpassed what we committed ourselves to do in the budget estimates for 2015, which contributed in no small part to alleviate some of the burden of lower oil prices. "
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