Informed the oil minister Adel Abdul Mahdi, the parliamentary finance committee that "Iraq's production rate of crude oil through the southern ports amounted to 2.9 million barrels per day and that the Kurdistan region's exports will rise in the next three months to 275 000 barrels a day."
He added that, "Abdul-Mahdi confirmed that exports from southern Iraq where there are no problems which had reached 2.9 million barrels from the ports of Basra and this amount can be increased as a result of oil fields enter production line."
He said Mohammed, said, "The price of oil, which was built by the budget in 2015 is $ 60 and will remain in the budget and recognizes it as the oil minister, as it deems appropriate and reasonable price and they put this figure on the basis of estimating oil experts as to reduce the fiscal deficit has asked the minister to increase oil exports He said that the ministry can afford it and produce higher than this figure, but we need to reassure oil companies to work in Iraq. "
It is said that the draft financial budget law, according to a report of the Finance Committee parliamentary published [where] the seventh of this month, said the "hypothesis budget prices built on the basis of a US $ 60 average price per barrel on the export of 3.3 million barrels per day rate, including 250 000 barrels per day of production of the Kurdistan region and 300 000 barrels per day of production of Kirkuk, "pointing out that" oil revenues still constitute the highest percentage of the structure of the components of the draft budget revenues, reaching 84.6%. "
As Turkish Energy Minister Taner Yildiz revealed during his visit to Baghdad on Sunday at a news conference with Foreign Minister Ibrahim al-Jaafari about "the arrival of 450 000 barrels of the region and the Kirkuk oil to the port of Ceyhan under the supervision of Sumo and seek to raise this figure to 550 000 barrels per day."
Iraq is facing financial hardship and a lack of liquidity with the fiscal deficit is estimated at 60 trillion dinars due to lower global oil prices to below $ 50 per barrel, especially since the Iraq depends on oil rents by up to 85% .
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