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¶astosmar gas supports fiscal revenue

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1 ¶astosmar gas supports fiscal revenue on Wed Nov 11, 2015 2:48 am

Rocky


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¶astosmar gas supports fiscal revenue

 

11/11/2015 0:00

BAGHDAD - the joy of pumice                  
after the drop in oil prices in world markets and its negative effects in Iraq, there is a need to invest associated with the extraction of the gas operations as well as activating the petrochemical industries, which contribute to bridge the country's needs of electricity and the provision of financial imports.
And burn Iraq nearly 12 billion cubic meters of natural gas associated with crude oil produced from Basra wells, it costs more than $ 15 billion in excess of a year, while Iraq to import gas from Iran to meet local needs at an estimated cost per year of more than $ 4 billion.
The growing calls for increased investment in the gas sector, rather than burned in air pollution over factors, as urged economist Mahmoud Alloush to invest this important sector as support several joints of the most important manufacturing sectors and activate the petrochemical industry. It explains Alloush »Sabah» need of the country, estimated at up to a million and a half million barrels per day of oil products, the production of refineries, the country is estimated at 600 000 barrels per day, including the Kurdistan region, ie, Iraq imports about 900 000 barrels per day from other countries, he says. The expert called for the activation of the manufacturing industry, especially that Iraq was exporting these products to the countries of the world and efficient surpass foreign counterparts, leading to revitalize national industry and move all joints of life, as well as attracting manpower unemployed, stressing at the same time to reconsider structuring administrative staffs and sagging existing institutions involved in this field, what drives the economic development and economic growth. The Oil Ministry is seeking to attract foreign investment in this area through the orientation by firing licenses pertaining to gas fields rounds are Mansouria, Saybah crutch and, in addition to associated gas from the fields of Rumaila, West Qurna and Zubair gas
in Basra.

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