Shahristani: invest in oil wealth would raise Iraq's budget to $ 500 billion !!!
Shahristani: invest in oil wealth would raise Iraq's budget to $ 500 billion
10/11/2012 12:33 am
During the launch of the annual report of the International Energy Agency
BAGHDAD - morning
Deputy Prime Minister for Energy Hussein al-Shahristani said the global demand for oil will increase by one million barrels annually, stressing that Iraq has confounded oil enormous amounts to about 199 billion barrels, has not been exploited him so far only 15 percent, explaining that the optimum exploitation of the oil wealth would pay Iraq during the next few years, to raise its budget public to reach about $ 500 billion. announced Shahristani, during a speech on the sidelines of the ceremony, which was held yesterday in Baghdad, marking the launch of the International Energy Agency on "Energy Prospects in Iraq," said future plans short will aim to reach oil production to 6 million barrels per day, which was endorsed by the head of the International Energy during his speech, when he said that Iraq has the ingredients and qualifications will enable the coming years of occupation mattress global advanced, between producers and exporters of oil. Dr. Fatih Birol, the Iraq will reap $ 200 billion annually from oil revenues, as signs increase in GDP rate doubled. continued Birol expectations that came the report of the International Energy Agency, showed that Iraq will have during the current decade 45 percent of the growth rate expected in global output, pointing to the importance of Iraq's investment of more than $ 530 billion in the energy sector, and a rate of $ 25 billion annually, in order to increase its financial revenues, and revive energy projects in various forms of oil and electricity.