Abdul Hadi Al-Hassani: the rise of oil prices to cover the budget deficit

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Abdul Hadi Al-Hassani: the rise of oil prices to cover the budget deficit

By: mano

Date: Sunday 02-01-2011 12: 17 PM

Baghdad (News). According to a member of the parliamentary committee previous economic Abdel Hadi Al-Hassani, the continuing rise in oil prices would lead to bridge the budget deficit in Iraq.

Hassani said (the news News) today: this year will witness a rise in oil prices, which will lead to cover the shortfall in the budget, and this is what a reliable to revive the economic situation in Iraq.

Al-Hassani Said that the Ministry of Oil signed several contracts, which service the most, not the partnership, he said that the companies contracted by the state is to provide services in the field of oil in return for money, there is no monopoly only if it is the long-term, long, which comes in the names of the service and different.

Iraq had had held two rounds for oil (I and II) included a large number of fields with a view to point to the production of 12 million barrels per day through a plan up to a year in 2017.

The tour included, the Rumaila fields north and south, and Kirkuk, and zubair (basra) and West Qurna (Phase I), Maysan and opposite the Fakkah, Abu West, بزركان, Hassan, stick, Al-Mansouriya), with the production of these fields to 80 per cent of the total production of Iraq. While introduced recently by the Ministry of Oil natural gas wells in rounds of Licences, and declared it to invest in a third round separately.

Oil Ministry confirmed as serious during the first three years to raise the production ceiling by 10 per cent, and then starting after this period of time to produce peak. It is worth mentioning that the temperatures in various parts of the world may push oil prices to around 100 dollars per barrel, over/(3.. M).

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