Licensing contracts served as foreign companies were affected, including IraqBAGHDAD
Licensing contracts served as foreign companies were affected, including IraqBAGHDAD / Ibrahim Ibrahim
11/28/2015 0 Comments
Confirmed experts in economic affairs, on Friday, to reconsider the rounds of licenses give the government additional financial resources in light of the economic crisis experienced by the country, calling for rationalizing the disposition of those funds, and not used within the oil tyranny formats Albzkha and the economy, as happened previously. The economist said Maytham defect in an interview for the "long" that "today there are calls to reconsider the rounds of oil licenses with foreign companies, in terms of the service contracts served the oil companies were affected, including Iraq, especially with the drop in oil prices."
He added that "reconsider tours licenses can enter additional financial resources to the Iraqi state, and can address the mistakes that accompanied the signing of these contracts between two parties is equal in experience and negotiation.
"He explained defect that" foreign oil companies worked under the political and security under difficult circumstances, and was able to perform its obligations to the government, from During the service contracts, and those contracts which benefited Iraq, and achieved large budgets, and amounted to more than $ 750 billion, with the direction of oil prices to rise, especially as expectations over the past years has been toward more high oil prices.
"He pointed out that" the government has not been able in the past years to achieve real development, but that the money went consumer destination, in addition to the suspicion of grand corruption.
"He continued:" The inability of the authorities to control public spending, and the adoption of policies that employment is disciplined, in addition to exaggerate the amount of investments, as well as the expansion of ministries unjustified led to the waste of billions of money the sale of oil.
"pointing out that" despite the fact that oil supplier does not belong to the current generation only, but the country did not keep part of the money to ensure that the share of future generations in the form of generations boxes, and did not It has been also part of the distribution or the proportion of these resources for the Iraqi people as the real owner of her in the form of direct cash resources. "
defect and stressed that "the re-negotiations will be arduous and easy, and you will need to experts and specialists, because the other side may fort itself from the outset legally, But in the end that there was a consensus to amend the agreements can be expected positive results, especially that satisfied those companies that Iraq is seriously going to rationalize the disposition of those funds, and not used within the oil tyranny formats and the economy Albzkha.
"She stressed Committees energy and the economy both parliamentarians, Friday ( 11.20.2015) that Oil Minister Adel Abdul-Mahdi stressed during hosted a session of the Council on the need to reconsider the rounds of licenses being "has become expensive" because of the fall in world oil prices, and with Binta he raised the possibility of establishing new refineries other and ask for investment.
A member of the Committee on Energy, Ali Fayad, in an interview for the (long-Presse) that "the host's oil minister, Adel Abdul-Mahdi session, dealt with a lot of things most important licensing rounds, the prices and bills, mechanisms and work", adding that "the minister stressed the need to re-examine those tours, they are expensive Because of the fall in world oil prices. "
he said Fayad, said that "the oil minister was convinced of the need to reconsider the rounds of licenses and prices of a barrel of oil extraction and cost, by specialists to find out the size can be conducted amendment," noting that "Abdul-Mahdi, also touched on the issue of refineries and how to establish more of them, and the possibility put up for investment. "The member of the parliamentary committee of energy, that" the oil minister spoke about the budget in 2016, and the adoption rate of $ 45 per barrel of oil in which, and the oil agreement with the Kurdistan region, "pointing out that" Abdul-Mahdi said that the region's share in the budget dependent on oil. "For her part, member of the economic and investment commission in Parliament, Najiba Najib, in an interview for the (long-Presse) that" the oil minister said that the budget bill does not involve sending any amount of the Kurdistan region, because the federal government did not receive him any amount of oil after June 2015. "Najib said, that" the oil minister also stressed that the licensing rounds now cost the state large sums of money after the fall in world oil prices. "turn economist Mustafa Mohamed Habib said in an interview (range)," The previous government during the conclusion of oil contracts with foreign companies its negotiators could not put future accounts into account the most important of the fall in oil prices. "He added that" the agreement required to give the Iraqi government and the storage and increase the export capacity of oil extracted transfer but has not committed to its part for several reasons, the most important of poor management and the lack of strategic action plan. " He explained beloved that "foreign companies committed to raising the production capacity of the fields agreement held fast paces, causing the accumulation of fines on the Iraqi side to reach the millions of dollars and payable." He pointed out that "the financial situation of the country and the lack of liquidity as a result of the fall in world oil prices make the current government crisis to fulfill its obligations with foreign oil companies, so the formation of a dedicated team to re-negotiate according to current economic developments and try to skip the previous pitfalls. "TheIraqi Council of Representatives, has decided in the (November current 2015) 17, call the ministers of finance, planning and oil to demonstrate their point government's view on the financial budget law for next 2016. The oil minister, Adel Abdul-Mahdi, said in (16 August 2015) that the budgets of Iraq since 2003 and until this year, amounted to $ 850 billion, while between that there are three levels of corruption, he saw that these funds should generate trillions of dollars of added value if injected markets and work sites about sound and production, to contribute to any reform no matter how late or backward society.