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Oil: more than four million barrels per day next year

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Rocky


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Oil: more than four million barrels per day next year




11/18/15



BAGHDAD / Obelisk: The Ministry of Oil, on Wednesday, it is seeking to reach a production of more than four million barrels per day in the first half of 2016, as pointed out that the reduction of the investment program of energy did not achieve a significant increase in production.

Said Undersecretary for liquidation Dhia al-Musawi in an interview with local media and followed up 'Obelisk', that 'the Ministry is seeking within their plans to reach a production of more than four million barrels per day in the first half of 2016 and an increase of unexpected 100 000 barrels per day', adding that 'oil production Crude is currently less than four million barrels per day. "


Al-Moussawi said, that 'the ministry focus on increasing energy saving and Ward largest of the state through national effort and focus on the activation of the Iraqi Drilling Company and oil projects and engineering equipment and local contractors', stressing that' reducing the investment program of energy in the latter half of 2015 did not lead to an increase large in production '.

The Ministry of Oil during the current period to increase its oil production to compensate for the resulting decline in global oil prices, which amounted to less than $ 50 per barrel after having touched the price of $ 116 in mid-2014 losses.

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