Inspector Oil: licensing rounds earnings exceeded the $ 300 billion

8 12 2015
It revealed the Ministry of Oil for the high volume of crude production in all provinces in the country for more than four million barrels a day.

The earned as a result of licensing rounds over the past years exceeded $ 300 billion, said it processed the Ministry of Electricity up to 250 thousand barrels of crude oil per day at peak times.

Inspector general of the Ministry of Oil Aouijl Rashid Hamdan said in a statement the "morning": that the global economic crisis, which affected the oil prices have caused a lot rumors about the licenses concluded by Iraq with global companies rounds.

He noted that most of these overlaps and gossip in political bush rather than economic, especially that these contracts contributed to raise the ceiling on Iraq's production of crude oil to more than four million barrels a day by export in some cases up to three million and 600 thousand barrels per day.

He added that the total fiscal revenue accruing to the state from licensing rounds contracts for the production of the year 2011 to 2014, amounted to more than $ 337 billion, while the total amount of what has been paid to the contractor companies up to $ 37 billion.

He said the amount includes fixed assets assigned as projects of infrastructure such as an airport and buildings, etc., and that's what you get entrepreneurial companies of the profits of wages profitability only This shows conclusively that the service contracts achieved a very significant financial returns, noting that the Department contracts and licenses in the oil ministry Finance Committee handed in the House of Representatives and the documents that pointed to these facts.

And between Rashid that the contracts go through two phases, the first to conclude contracts where there are no problem, but the problem starts in seconds, a phased implementation of the contract, pointing to the existence of negotiations with the winning companies touring licenses, stressing that his ministry is working to reduce costs, as the oil contracts with companies belong exclusively to extract a barrel, while the left Kkhoznh other services, transportation and marketing, to national companies, being not possible to fully granted to international companies.

He noted that the ministry has formed technical committees to assess the damage in the Baiji refinery, which suffered extensive damage as a result of the military operations that took place in which to fight "Daash" criminal gangs who deliberately vandalized in full, adding that the rehabilitation of the refinery, which caused the deprivation nearly 45 percent of the oil derivatives are not taken, but the existence of a stable security situation in the region.

He stressed that his ministry has succeeded in closing the deficit in petroleum products due to the Baiji refinery stopped by maximizing the production of oil derivatives in other refineries in the center and south as well as import kerosene Oil and import limited amounts of benzene.

Inspector general of oil and stressed that the construction of a new refinery process cost very large sums of up to $ 12 billion and is built by public companies and is not possible to allocate a subsidiary of the Ministry amounts to firm up to this size and it Artat ministry to display the number of refineries to invest on according to the investment law No. 64 for the year 2007 to build private refineries, which differs from the General Investment Law No. 13.

Rashid to and noted that there was no blockbuster by companies because they cost a great state amounts taken it upon themselves to build refineries but because of the economic situation lagged However, the ministry has succeeded refer Msfii Karbala, Maysan on investment by 150 000 barrels per day, as well as put up Nasiriyah refinery investment which It is hoped to be a design capacity by 300 000 barrels per day.

He explained that the Ministry of Oil equip power plants by approximately 250 thousand barrels per day of crude oil in peak times as well as processed material kerosene and dry gas and black oil, revealing that the debt owed to the company the distribution of petroleum products exceeded five trillion dinars, noting that the Ministry of Electricity has not set a figure for the amount of fuel it consumes.

Al Sabaah 2015