Oil Ministry confirm Iraq's commitment to pay the dues of oil companies 5-24
Oil Ministry confirm Iraq's commitment to pay the dues of oil companies Wrote: May 24, 2016
Oil Ministry confirmed Tuesday that the government is committed to pay the dues of oil companies, pointing to repay bulk of them, while clarified that its commitment will enhance the international community's confidence in Iraq
A spokesman for the Oil Ministry, Assem Jihad, said that "the government liable for the payment of financial dues to oil companies operating in Iraq," noting that "curling largest percentage of these entitlements, including the 2015 and deporting the rest to the 2016 budget."
Jihad said, "The government has worked on the programming of these dues on a regular basis by the Iraqi oil company SOMO through understandings with these companies," he said, adding that "these shots are either by cash or by an equivalent of crude oil at international prices prevailing ".
Jihad said that "Iraq's commitment to this aspect enhances the confidence of the international community in Iraq and reinforces his international stature," pointing out that "the granting of the loan by the IMF for Iraq serves as their confidence in the Iraqi economy and prestige."