Oil prices are detracting globally and this will reflect negatively on the Iraqi national budget leading to more hard times to the Iraqi government and people.
Maysan Oil Company (MOC) announced about its intentions to increase its oil production to compensate the shortage of oil exports stopped from the Iraq’s north oilfield and Kurdistan.
The Iraqi Oil Ministry announced that the Russian oil company LUKoil will build an oil pipe with 1.6 million barrels per day capacity.
Central Bank of Iraq announced that its granting approval to the companies of money transfer to open accounts directly in the CBI.
Korea Gas Corporation (KOGAS) revealed that it presented to the Korean government a plan to sell a part of its share in Akaz gas field in 2015 or later.
The National Investment Commission announced that Iraq is seeking to establish an Iraqi Public Sector Investment Bank which will contribute in funding major infrastructure projects and employ the revenues of private sector companies.
Maysan Oil Company announced that its annual production of crude oil last year 2013 reached more than 83 million barrels, indicating that its seeking 1 million per day on 2017.