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Iraq plans to double the capital of the Southern Oil Company ten times
PostDateIcon | Tuesday, 09 March 2010 17:16 | Print

Increase the capital of the Iraqi national oil companies
? Baghdad


The Iraqi government said on Tuesday it plans to double the capital of the Southern Oil Company ten times to about $ 426 million.
The SOC is a locomotive-owned oil companies of the State in Iraq ...

Ali al-Dabbagh Iraqi government spokesman said in a statement that the cabinet agreed to increase the capital of the Southern Oil Company to 500 billion dinars ($ 426 million) in coordination between me and ministries of oil, finance and also approved the recommendation of the capital increases for other oil companies, state-owned.

The oil of the South - which is based in Basra in southern Iraq - is responsible for many of the largest oil fields in the country, including Rumaila.


The decision comes as the government seeks to exploit Iraqi oil deals new series hopes to increase the nation's crude production of about 2.5 million barrels per day currently to at least 10 million barrels per day within six or seven years.

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