Parliamentary committees: Oil Minister Adel Abdul Mahdi demanded reconsideration of licensing tours promise costly
November 20, 2015

The energy committees and confirmed the parliamentary economy, on Friday, oil Minister Adel Abdul Mahdi stressed during a meeting hosted by the Council on the need to review licensing rounds being "are expensive" because of low world oil prices, and with it the possibility of a Pinta put new refineries and ask others for investment, the Commission confirmed the integrity of parliamentary contexts and the need to adhere to them.

A member of the Energy Committee, Ali, told the press that "hosting meeting oil Minister Adel Abdul Mahdi, on many things, the most important tours of licensing, pricing and invoicing, its mechanisms and its work", adding that "the Minister underlined the necessity of reconsidering those tours, as are expensive because of low global oil prices".

Fayad added, "oil Minister was convinced of the need to review licensing rounds and oil prices and cost of extraction, by specialists to find out the size of the adjustment can be done", stating that "Abdel Mahdi also addressed the issue of the refineries and how to build more of them, and the potential for investment".

He said a member of the parliamentary Energy Commission, "oil Minister talked about balance in 2016, and the adoption rate of 45 dollars per barrel, the oil agreement with Kurdistan", pointing out that "Abdel Mahdi stressed that the share of the territory's budget depends on oil ".

Member of the Committee said the economy and investment, najeeba Najib, told the press that "the oil Minister confirmed that the budget does not include sending any amount of Kurdistan, because the Federal Government did not receive any amount of oil after June 20015", stating that "Abdul-Mahdi said the Government was awaiting the arrival of a delegation from the KRG to solve that problem".

Najib said, "oil Minister also confirmed that the licensing rounds are costing the State large sums after lower oil prices".

On a related level, parliamentary integrity Commission, said in a statement that "the oil contract phases starting from the idea and then the technical and economic feasibility studies which must be prepared in advance by the Ministry of oil and then authenticated by the competent higher ministerial committees in the Council of Ministers, in particular the Committee on Energy Economic Commission, according to their specialization, to assume full legal responsibility and solidarity committees when viewing on the Prime Minister to take the appropriate decision, and then starts launching tenders after allocation Necessary access to contract ".

The Committee stressed that "the job description and specifications, cost and contractual duration after contracting is red lines due commitment by the parties to a contract after the contract's entry into force, any change or add items on contract or a contract extension and is a violation and circumvention is not justified legally, so that no additional amount paid oil production amounting us $ 2 for Streptococcus a barrel, is void and unlawful".

The Iraqi Parliament was decided on (17 November 2015), call the Ministers of finance, planning and oil to demonstrate the Government's view on the financial budget law for the year 2016.

Oil Minister Adel Abdul Mahdi, said, (16 August 2015), the budgets of Iraq since 2003 until this year, amounted to 850 billion dollars, while among three levels of corruption, the view that such funds should generate trillions of dollars of value added if injected into markets and locations and production, to contribute to the reform of a society lagging behind or whatever.