BAGHDAD, Jan 19 (Reuters) – Iraq wants foreign oil companies to cut spending as the nation seeks to narrow a budget gap caused by lower crude prices, oil minister Adel Abdul Mahdi said in a statement on Tuesday.
"The ministry is discussing reducing financial spending by foreign companies," he told a meeting of the oil fields' joint management committees in Baghdad.
Iraq, OPEC's second-largest producer, has service agreements with companies including BP, Shell, Eni, Exxon Mobil and Lukoil to boost output at its ageing fields.
(Reporting by Ahmed Rasheed; Writing by Maher Chmaytelli; Editing by Mark Potter)
Copyright 2016 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles