The expected arrival of oil revenues for more than 670 billion dollars by 2017
04.13.2014 (0:01 pm)
Baghdad / Acer Jabbar
Ministry of Planning predicts, to reach revenues of crude oil by 2017 to "670 billion dollars", and stipulated that the arrival of exports from fields invested to "six million barrels per day", and as pointed out that the proportion of the investment budget "will increase by more than (40%)" from the general budget, confirmed that it "will be reflected positively on the sectors of industry, agriculture and energy projects."
said Deputy Minister of Planning Mahdi Keywords in an interview to the (long-Presse) that "five-year plan developed by the ministry took into account the amount of the increase in oil exports, especially after the announcement of most of the fields oil invested launch of its actual production of oil exports,
"explaining that" the plan, which began in 2013 and will end in 2017 indicated an increase in oil exports provided the province to increase exports by Fields invested. "
explained Keywords that "the increase in exports until the year 2017 will amount to 6 million barrels per day, "adding that" by selling oil per barrel to $ 85, the oil revenues will exceed the (670) billion dollars. "
and the Deputy Minister of Planning said that "the increase in revenue will be reflected positively on the budget, especially the investment budget, which will increase the rate of Certainly over the (40%) of the total percentage of the budget,
"he continued," as he reflected on the focus for the advancement of the domestic sectors such as industry, agriculture and tourism as well as the completion of all energy projects. "
Deputy Prime Minister for Energy Hussain al-Shahristani announced, in March last year, the opening of the West Qurna field, (2) the oil in
the province of Basra, the second largest field in the world, and pledged to compensate the families affected by the field, and urged the ministries of oil and industry
and local government in Basra to encourage foreign companies to invest in petrochemical industries, Oil Minister Abdul Karim and coffee opening field of "historic achievement" that will enable the Iraqi government to implement its development programs.
was the oil ministry announced, last February, rising crude oil exports to more than three and a half million barrels per day.
was the Oil Ministry confirmed that Iraq will become close to the "most important" sources of energy in the world, and that there will be nine million barrels by 2020, while showed that the Organization of Petroleum Exporting Countries have shown the possibility to absorb any increase in the export of Iraq, Saudi Arabia and Libya, has promised that "it will maintain the stability of the" oil prices.
was Deputy Prime Minister Iraqi for Energy Affairs, Hussein al-Shahristani, confirmed that the war in Syria "obstructed oil and gas projects in the fields of Iraq," noting that the export pipeline President extends to the Mediterranean "severely damaged",
and the security problems have hindered oil projects in the western region, but production processes and exports in the southern fields "remained the province on the rates without effect."
Shahristani was confirmed in December 2013 that Iraq has oil reserves "of 143 billion barrels and accounting for 10% of global reserves," and explained that it aims to produce nine million barrels of oil per day By 2020, stressing that Iraq needs to train 500 thousand employees to cover the needs in the major oil and gas sectors.