Oil plans to offer oil refineries for Investment and Announces produce about five million barrels per day

 Long-Presse / Basra

The Iraqi Oil Ministry on Saturday, for the production of about five million barrels of oil a day from all fields, including the Kurdistan region, and confirmed its intention to launch a number of oil refineries to the investment by the private sector, while suggesting plans to develop the refineries, drawn to it working to address some of the impurities in the licensing rounds for decades.

The oil minister said Jabar Luaibi during a press conference in the Iraqi Drilling Company in Albrjsuh area, south west of Basra, and attended (range Press), “The ministry intends to apply ambitious plans, and Mahorna fundamental is to increase the crude oil production in order to reach rates fit with the needs of Iraq oil production through licensing rounds, and through national effort and try to assign that effort again and bring him back to the top of the process of crude oil production, “noting that” Iraq at present produces about four million and 700,000 barrels per day with the Kurdistan region and exported from the southern ports around three million and 150,000 barrels. ”

Allaibi He added, “The ministry plans include increasing production within a balanced policy in the Organization of Petroleum Exporting Countries and the global market in order not affected oil prices negatively,” adding that “the licensing rounds include lapses and loopholes in the contract Netjh urgent conditions weighed on the Iraqi side.”

He said the oil minister, that “the ministry is in discussions with global Charcot oil to ensure the rights of Iraq without affecting the contracts away from the controversies to close the loopholes and gaps in those contracts,” revealing that “The ministry was heading towards the launch of refineries for investment and private sector involvement in the construction of refineries and management.”

He pointed Allaibi, that “there are 13 refinery in Iraq need to be developed to increase and improve its production of oil derivatives,” explaining that “the ministry is seeking to implement an ambitious plan to increase the production of the Basra refinery to 300,000 barrels per day.”

Allaibi said, “The ministry is also seeking to increase the production of the refinery to 200,000 barrels per day, as well as increased production refinery in Karbala and Kirkuk, to cover the deficit of local need.”


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