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 Iraq asks foreign oil companies to cut budgets DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraq asks foreign oil companies to cut budgets

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 Iraq asks foreign oil companies to cut budgets Empty Iraq asks foreign oil companies to cut budgets

Post by claud39 on Fri Mar 27, 2020 10:34 am

 Iraq asks foreign oil companies to cut budgets




27/03/2020





 Iraq asks foreign oil companies to cut budgets 19716





Economy News _ Baghdad



An Iraqi oil sector official said on Friday that his country asked all international oil companies to reduce their budgets by 30% due to the significant decline in crude prices.

The Iraqi official told Reuters, that his country asked all international oil companies to reduce their budgets, but these cuts should not affect production.

On the other hand, a source in one of the foreign oil companies confirmed to the agency: "We received the letter about reducing the budget by 30 percent, but we have not taken a decision yet."

A letter seen by Reuters reported that ExxonMobil in Iraq, the main developer of West Qurna-1 oil fields in the south of the country, also asked all of its suppliers to cut costs.





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