Parliamentary Oil: Gas licensing rounds will support the financial budget

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Parliamentary Oil: Gas licensing rounds will support the financial budget

The Parliamentary Oil and gasoline Committee burdened, on Thursday, the importance of gas licensing rounds in diversifying Iraq’s imports and helping its finances with new sums.

Committee member Ali Saadoun stated in an interview with dinaropinions.com, “The gas licensing rounds are of extremely good advantage to Iraq and provide the economic finances with sums via extracting and selling gasoline, as well as diversifying the country’s imports.”

He delivered, “There are portions of gasoline in several exploration extraction areas, and the companies which have implemented to paintings in them are numerous, which includes chinese corporations, and they will start their activities,” indicating that “this critical step was presupposed to take vicinity 10 years ago.”

it’s far noteworthy that the Minister of Oil, Hayan Abdul Ghani, had previously predicted an boom in fuel production with the aid of 3 billion cubic toes due to the licensing rounds.