Expectations to fill the budget deficit from rising oil prices
Expectations to fill the budget deficit from rising oil prices
9/2/2015 0:00
Kurdistan confirms its commitment to the agreement of the oil
BAGHDAD – Tariq al-Araji,
saw the economic and investment commission in Parliament that high oil prices will fill the budget, which amounted to a deficit (25) trillion dinars, while the head of the advisers in the Office Engineer Thamer Ghadhban Prime Minister revealed confirm the Kurdistan region of commitment agreement with the Government Federal deliver 250 000 barrels per day, and expected that global oil prices on the rise during the second half of this year. Ghadban pointed out, in a statement singled out the “morning” that “preliminary agreement concluded in the month of January of last year between the oil minister, Adel Abdul-Mahdi and the Minister of Natural Resources of the Kurdistan Regional Government received the support and blessing of the federal government,” noting that the agreement was an initial step followed by meetings In Baghdad, agreement was reached between the two parties. ”
He added Ghadban that “the agreement provides for extradition of the Kurdistan Regional Government oil produced in the region at a rate of 250 000 barrels per day in addition to the 300 000 barrels per day of Kirkuk oil exports across the region to the port of Ceyhan to reach combined amounts to 550 000 barrels per day. ”
The head of the board of advisers that “the rates received from the region continues to increase and there is a commitment to deliver an average of 250 000 barrels per day of oil produced in the region throughout the year,” expected “high production rate by the end of this year to 325 000 barrels per day.” and on oil prices and expectations around, Ghadhban to pointed out that “to predict oil prices, a difficult task,” adding that “the current indicators show that there is a considerable increase in oil prices because of serious concerns in the global market related to the contraction of the oil industry and shrinking investments, which can be affect the oil supply in the coming years, so it interacted global market with these predictions and the price rises. ”
Ghadban warned that “the pressure on crude oil prices will remain this year,” adding that he “believes that the relative increase will be witnessed in oil prices in the second half of this year “For his part, stressed the economic and investment commission member of the parliamentary Almamori proof that high oil prices will fill the deficit in the budget of 25 trillion Danar.oavad Almamori, in a press statement that” the budget is built on the price per barrel of oil, which amounted to (56) dollars was expected, according to Financial and Economic Committee that the price of a barrel of oil per up over the current six months (65-70) dollars and this would be considered a supplement to the budget, “adding that” our project today is not dependence on oil, but also support for multiple resources such as agriculture, industry and investment . ”
In addition, it was announced to the Commission on oil and energy parliamentary member Kaveh Mohammad, a press statement, that “the President of the Kurdistan Regional Government, Barzani will meet with the Commission on oil and energy parliamentary in Arbil,” noting that “Barzani will discuss with the Committee support the implementation of the oil agreement between the Federal Government and the Government of region, and overcome the obstacles that lie ahead. ”
While, citizen Bloc House of Representatives to speed up the inclusion of illegal oil and gas and the Federal Court on the agenda called for.
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