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Warning of low oil production and worsen the budget deficit .. The truce with Erbil may ease crisis

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therealbubbie

therealbubbie
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said deputies and Iraqi experts in the field of energy, that the security situation tense and worn out infrastructure for the pipeline transportation of oil, and reduce the giants of petroleum for their investments, could lead to a decline in oil production in the country, which will increase the deficit suffered by the federal budget, which An estimated $ 19 billion.
indicate the government's expectations that production will keep the rate of 2.9 and rises, and the light was identified state budget for the current year, but the Reuters news agency published yesterday a report involves estimates disappointing, reported that Iraq's production and exports of oil dropped in July for the third month in a row. Add to that the international oil companies which signed contracts to exploit the reserves of Iraq, has plans to increase spending due to the lack of pipelines is sufficient and facilities in ports to increase exports.
fell oil exports this year already According to Reuters, below the average last year of 2.4 million barrels per day, and landed in July to around 2.25 million barrels per day. It also will lose exports of Basra Light crude about 500 thousand barrels per day in September when they begin maintenance work in this harbor southern vital oil exports.
rejected the oil ministry to San spokesman Assem Jihad, to comment on the information that a decline in oil production in the country during the coming months, But it drew in a statement to the "long" that this information is transmitted to a technical committee would "study the information and give the position of technician according to the results." and denied the Southern Oil Company in Basra, the occurrence of any defect in the pipe oil exporters, and reduced the importance of climate impacts, confirming the stability of production oil from fields in Basra. said director of relations in the company Thaer Yassin in connection with the "long" yesterday that he "does not have a defect in the process of production and export of oil from the fields and ports of Basra," stressing the stability of production processes and does not have any retreat, diminishing at the same time the impact of climate or reforms in the pipeline, and explained that the inventories available in the company of 3-4 million barrels, and enough oil pumping levels normal for the entire week. quoted "Reuters", the day before yesterday informed sources that the poor state of equipment for export in the south and the vagaries of the weather during the quarter The first resulted in lower production run Rumaila me. Me the British oil giant, adding that the storage capacity in Iraq is still not enough, so when you stop exports of Basra Light crude or fall sharply, the production fields retreats often also in the case of the Rumaila be back by about 200 thousand barrels daily. Immediately after the closure of the fields, the restart require a long time so I did not because the Rumaila field after the pace high. A member of the Commission on oil and energy parliamentary MP Qassem Mchkta in a statement to the "long" that the decline in oil production will have the effects of a bad security situation and the political and economic situation in Iraq, as well as lower the overall budget that suffer originally a deficit of billions of dollars. , adding that Iraq's budget for 2013 approved on the basis of speculation oil production two million and 900 thousand barrels per day, stressing the seriousness of decline in the proportion of oil production on the economic situation and the general situation in the country, revealing that Iraq's budget for the year Current suffer "a deficit of 19 billion dollars," stressing that any deficiency in the amount of oil production will increase the budget deficit. predicted a member of the Commission on oil in the House of Representatives a decline in oil production, with the aging infrastructure of pipelines, and security conditions, noting at the same time, the possibility of address this problem in agreement with the Kurdistan region, and added that "an agreement between Erbil and Baghdad to pay the dues of the oil companies will provide Iraq's 250 thousand barrels per day," stressing that "the quantity coming from Arbil fill the shortfall in oil production." Conversely expect an expert in the field of oil and energy Jamal Jeweler retreat Iraq's oil output to below the two million and 800 thousand barrels per day, for reasons related to differences between the province and Baghdad, targeting oil pipelines, said the "long" that the dispute between the Kurdistan region and the central government had provide 250 thousand barrels per day is added to the national production (GDP). He said the jeweler that "exposure line Ceyhan continuously to sabotage greatly affects the production of oil," stressing that "the export of oil from this line depends very much and always exposed to terrorist attacks." said a foreign official told Reuters, "goes the development in the south pace is very slow. . we lost momentum .. we hope will be the last quarter of the year more active. " He said oil officials, Iraqi Rumaila Giant is the largest field product in Iraq, is suffering from declining production from old wells in addition to the impact of significant reforms in stations, gas separation dilapidated, which led to a decline in the production of the field. Sources said that the storage capacity in Iraq is still not enough So when you stop exports of Basra Light crude or fall sharply, the production fields retreats often also in the case of the Rumaila be back by about 200 thousand barrels per day. but Jeweler played down the impact of the other reasons that may affect the rate of oil production, such as climatic conditions and repair some of the pipelines oil, and the jeweler said "occur stops in some oil pipeline maintenance and development measures, sometimes need to stop production," he said, adding that "the action does not take a long time, but does not include all of the system." term

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