Oil exports decline to cause deficit in 2014 budget, says Sa’ad

Baghdad (IraqiNews.com) Member of the parliament Oil & Energy Committee, MP Suzan al-Sa’ad stressed that the decline of the crude oil production during 2013 will lead to major deficit in the federal budget of 2014.

The oil exports decreased during past June at average of seven million barrel following the sabotage that hit the northern pipeline and the bad weather, according to the Oil Ministry report.

Sa’ad stated to Iraqi News (IraqiNews.com) “The federal budget depends primarily on the exported oil amounts, so, as far as the oil products decrease as the budget will suffer deficit.”

“The decline in the oil exports resulted from technical problems at the oil pipes and to the sabotage at the exporting pipes in the north of Iraq,” she pointed out.

The spokesperson of the Oil Ministry, Asim Jihad said some days ago that “The oil exports for past June decreased to 69,800,000 barrel, i.e, at average of 2,326,000 barrel a day while the oil exports reached in past May 76,900,000 barrel per day.”