39154
Baghdad to Lower Oil Price to $32
Energy

Baghdad to Lower Oil Price to $32

Iraq plans to lower the oil price forecast in its 2016 budget to about $32 a barrel from $45, widening its fiscal deficit by several billion dollars. "The new price estimate is based on the continued low level of global oil prices in recent month"s, said Marwa al-Nasaa, Amman-based IMF resident representative for Iraq.  "We're setting it closer to $30 based on the climate of international futures prices since November," she told Reuters on Thursday. Nasaa noted that the revised budget, which has not been finalized, is part of Iraq's negotiations for a standby agreement with the IMF. The standby agreement financing could be approved as early as June, unlocking $15 billion in international assistance over the next three years.  The adjustment is expected to add about $6 billion to the OPEC producer's budget deficit unless offsetting measures are taken.  Iraq's current budget, which projects oil exports of 3.6 million barrels per day, predicts a deficit of $20.56 billion.

 

Short URL : http://goo.gl/ZvOfZz
  1. http://goo.gl/66tn3l
  • http://goo.gl/gdeOOS
  • http://goo.gl/rYUOZ1
  • http://goo.gl/2rpIwe
  • http://goo.gl/J3UemQ

You can also read ...

German ADL Signs Oil, Gas Technology Transfer Deal
German company ADL and Iran’s Sepahan Oil Company have signed...
 Solar Power Helps Japan Handle Electricity Surge
As temperatures soared to record highs across Japan this...
 Oil Sanctions Would Have  Little Impact on Russia
Stiff new US sanctions against Russia would only have limited...
Sinopec to Increase Gas Supplies
China’s Sinopec plans to ramp up natural gas supplies by 1.8...
The Caspian power project consists of a 310-MW gas unit and a 150-MW steam unit.
The gas-powered unit of Caspian Combined-Cycle Power Plant in...
 Zabol, Khash  to Receive  CNG in H2
Compressed natural gas will be supplied to the cities of Zabol...
China Water Company Signs MoU to Build Dams in Maku
A memorandum of understanding was signed by Maku Free Zone,...

Trending

Googleplus