Tamimi: oil imports became half of the companies with the price drop below $ 40 a barrel

Tamimi: oil imports became half of the companies with the price drop below $ 40 a barrel

12/15/2015 13:39 GMT

Tamimi - oil imports became half of the companies with the price drop below 40 a barrelFollow-up – and babysit – he said the parliamentary finance committee member Majda al-Tamimi, said Iraq’s imports of oil became half of the foreign companies operating in Iraq with the decline in crude prices to below $ 40 a barrel.
According to Al-Tamimi said the “oil foreign companies take $ 20 a barrel Kklv extraction and service and what remains of the global barrel price goes to the state treasury, especially since the price of a barrel now below $ 40, about half of this amount will be for the account of these companies under the licensing rounds.”

The oil minister, Adel Abdul-Mahdi, said at a news conference attended by members of the Oil and Energy Committee held the House of Representatives, the first on Sunday, he said that “what was raised in recent times a lot of talk about licensing rounds and there are those who say that cost her more than payback and this is not true,” He is adding, “How Iraq also live a completely live on oil resources, what came to him from 2009 to 2014″.

He added that “what came to Iraq during this period exceeded 340 billion US dollars, and pay dues, but ten or about $ 34 billion,” adding, “We are working today to legalize more of these contracts in cooperation with the oil companies through negotiation with them, and solve a lot of things that were circumstantial period of the signing of these contracts. ”

He said Abdul-Mahdi, that “Iraq from 2003 to 2009 production rates were in it, does not exceed 2.4 million barrels per country, and that day, according to budget figures and actual production, if we add Kurdistan, Iraq beyond the beyond 4.0003 million,” noting that “from the southern provinces Production rates have increased only about 3.7 million barrels. ”

The Oil Ministry announced on Saturday, it’s designed to increase Iraq’s production of crude oil to 4.5 million barrels per day in the middle of next year 2016.

He said ministry spokesman Assem Jihad’s [where] that “the cost of producing a barrel in Iraq does not exceed the $ 10 but the problem is the low price and this is reflected negatively on the country’s imports.”

He pointed to “the continuation of the licensing rounds, but if there was a need for review, we will look in order to reduce the expenses related to the extractive sector parallel to the increase and development of production and low cost.”