Economic reason to re-negotiate with the oil companies, joint tours licenses 10/8
Economic reason to re-negotiate with the oil companies, joint tours licenses
08/10/2015
(Independent) ... called a specialist in economic affairs Raad Twigg government and the Oil Ministry to re-negotiate with the joint international companies in the oil licensing rounds, he returned them "absolutely necessary" for the Iraqi economy.
Said Twigg in a press statement I followed (Independent) on Thursday, said he "can not deny the importance of licensing rounds in a timely manner as a method of production of oil and investment in it, especially after the fall of the former regime, and on the basis of a proportional share in a barrel, but this method with the drop in oil prices has become Iraq is rewarding, but futile. "
He added that "it is not economic vision amount charged by oil companies consideration is the recovery of cost, since what borne by these companies across the oil investment operations are fixed cost and interview doubling of profits Taatqdaha those companies during the long investment periods, it may be appropriate quota in survival barrel for periods of boom. "
Twigg said that "the rise in oil prices is favorable in cases of recession and low oil prices, especially that the Iraqi negotiator in the negotiation phase for these tours did not bear in mind the issue of the decline in oil prices, which is required order to stop and review the re-negotiation and flexibility with global oil investment companies."
And was a member of the parliamentary finance committee Haitham al-Jubouri had earlier called for the Iraqi government to cancel oil licensing rounds immediately, it represents the "theft of public legislator" of the wealth of the people, where they cost the state budget $ 21 billion a year.
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