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Iraq: an increase in oil production and lower export earnings
October 29, 2015
BAGHDAD - «Quds Al-Arabi» announced Iraq's oil minister, Adel Abdul-Mahdi, that the loss of the Baiji refinery and Sharqat, modern and Tal Afar and other reduced the country's production of refined than 639 oil barrels in 2013 to 435 000 barrels in 2014.
He said Abdul-Mahdi during his speech at the conference oil in Maysan that this year saw an increase in production after the decline in oil prices, which reduced the monthly revenue of nearly $ 7 billion in 2014 to 3 billion and $ 700 million this year.
In turn linking Iraqi Finance Minister, Hoshyar Zebari, the success of the Iraqi government to get out of impact lower oil prices on the budget to activate the Agreement between the Government Center and the Kurdistan Regional Government to strengthen the Baghdad revenue through the export of oil from the northern region.
The Zebari announced yesterday in a press that «Iraq's revenues from crude oil sales interview in 2015 are still without a government, which refers to the export outlook monthly reach 3.3 million barrels per day and the price of $ 54 a barrel ».
He pointed out that« the average oil price since the beginning of the year until October of $ 48 a barrel, it is necessary to strengthen the Baghdad revenues to reach an agreement with the Kurdistan Regional Government on oil exports from the northern region » .
The «If we can re-activate the oil agreement between Baghdad and the Kurdistan Regional Government of New and ensure the implementation of the two sides to him, I think that we will be successful this year».
Iraq: an increase in oil production and lower export earnings
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