Maliki: Expected decline in Iraq’s financial revenue over th

[Stillw8n]

Maliki: Expected decline in Iraq’s financial revenue over the next year; Blames crisis in Europe and US

Prime Minister Nuri al-Maliki’s expectations down Iraq Revenue financial year 2012, pointing to a global economic crisis in Europe and the United States causing damage to the Iraqi economy, as he emphasized that next year will see the development in the sectors of electricity and oil.

Maliki said during the his visit to the province of Babylon that “the financial situation does not bode well, and the fact that we raised the budget to 136 trillion dinars, but we run into the prospects of a global crisis, unexpected new resolve her head in Europe and the United States, and also the collapse of the banks,” pointing out that “this may lead to economic stagnation will have an impact particularly on Iraq because the budget of her spine and 90% or more of them rely on oil revenues.

On the other hand, Maliki confirmed that “Once completed the work of companies that are currently working day and night in different parts of Iraq at the level of electricity will come down to the service starting next summer and up to the next two years about 13 thousand MW, “noting that” oil production began to increase and we have plants export of 900 thousand barrels per additional will be opened by end of this year and 900 thousand other openings in the first quarter of next year. “

It is noteworthy that Iraq is suffering a shortage in the supply of electric power since 1990 after the imposition of the UN embargo on Iraq, and the problem worsened after 2003, and increased hours of power outages to about twenty hours per day, increasing the adoption of the parents on generators for small power and civil, while the other of them in excess the national electricity grids.

Maliki also criticized “the work of the Iraqi judiciary in resolving disputes between governmental institutions and private sector companies that mostly failed,” stressing “the existence of a government decision to withdraw the project from contractors Almtlkin even before the issuance of a judicial decision about it.”

Maliki said that “judges are taking issue away from the realistic and take the issue like a mathematician and when you lift the contractor issue freeze work “, calling on judges to” make work continues and the call continues and the implementation of the judiciary after that. “

He pointed out that it was “nice to construction companies, all with names jewel of God with the sun and the like, while their companies and fake. ” It may seem a modern-Maliki for a new financial crisis bordering on the horizon indicator of the economic situation that Staish the country during the next year, with observers believe that such an order confirms the need to review the plans of the current economic of the country to ensure activation of all economic sectors and promote the work in the private sector, especially with the massive expansion of the public sector, which seemed to drain state revenues.

and Iraq was signed last year contracts with international companies to develop some oil fields in the two rounds of licensing the first and second, to raise the production ceiling to 11 million barrels per day in two years the next six to 12 million barrels per day, after the addition of the quantities of the other fields of national effort, has focused the majority of those contracts to develop oil fields, large fields in southern Iraq, as seen in May of last year’s announcement of the third licensing round to develop three gas fields is a crutch in gray, and Mansuriyah in Diyala, and Siba in Basra, as launched in the last month in the Jordanian capital of the licensing round four, and aims to explore 12 oil fields and gas is distributed in the provinces of Anbar and Nineveh, Najaf, Diyala, Wasit and Diwaniyah. has paid the contracts is the Oil Ministry to implement the a plan by which to step up export capacity of Iraq, including the early stages of the project set up tanks pumped new warehouse FAO coastal extension tubes capacity of the 48, and a length of 20 km on land and 120 km under water, and associated Alanbuban after the completion of installed them in three platforms single floating export ,

also signed the SOC mid-month contracts billion-$ 66 million with two (Saipem), Italian, and (LEIGHTON) Australian implementation of three projects on the development of export capacity through the Gulf. It is noteworthy that Iraq currently produces about 2.9 million barrels of crude oil per day, of which 1.9 million barrels extracted from the fields of Basra, after it was Iraq’s production does not exceed 2.5 million barrels last year, and expects the Oil Ministry to increase its production ceiling to three million barrels later this year 2011, while the amount of Iraq’s exports of crude oil is currently around 2.2 million barrels per day, and most of those quantities exported by tankers freely through the ports of Basra (pristine deep) and al-Amaya floating, and are located within Iraqi territorial waters, and with a capacity to export 1.7 million barrels a day, and pumped to two oil through a pipeline freely relate to warehouses storing coastal town near the center of Faw, about 100 km south of the city of Basra, while export quantities produced from the northern fields to Turkey’s Ceyhan port, overlooking the Mediterranean Sea via the tube carrier, and the remaining quantities are exported to Jordan, using a pelvic carriers.

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