Abdul-Mahdi denies the accumulation of debt on Iraq because of oil

December 14 2015
{Baghdad: Euphrates News} denied Oil Minister Adel Abdul-Mahdi accumulation of any debts on Iraq because of oil.
Said Abdul-Mahdi said in a statement {Euphrates News} received a copy of it today, it's under the auspices of the President of the House of Representatives and an invitation to the Commission on the parliamentary power, and the presence of the rest of the committee was held in the House of Representatives on June 13 seminar on licensing, and advantages decades, and disadvantages, and their results .. and about commissioned the production of a barrel , and debts, and actually come back to Iraq and a series of issues at stake today strongly in the arena, which is marred by high uncertainty, there's so much wrong and misleading information, which is necessary factual.
He was denied the accumulation of any debts on Iraq because of oil, some people confuse it with dues companies of petroleum and profitability of the costs, which are paid after the end of each chapter after the end of settling accounts between the ministry and companies, there is no debt, but costs and expenses are accounted already paid later by what is going on normally with all other contract, and has already gone $ 9 billion at the end of 2014 represents the third quarter and the fourth for the year, to be repaid in 2015 .. It is actually what has been, in addition to pay 2015 dues.
He continued, "Because we are at the end of the year will pay the remainder of the third quarter, in addition to the fourth quarter of 2015, which will be presented in its consolidated first quarter 2016 .. These amounts due or be due until the end of the year does not exceed $ 5 billion.
He pointed out that "production and accruals companies and returns cost the government Vnfdil delivered over some of the figures put forward by the study, Mr. Abdul-Mahdi al-Amidi, director general of contracts and licenses under the title {financial accounts of the companies for the period 2011-2015}, most of the information required and where, and that the figures are accurate 98% due to the write-off of some marginal figures; not to complicate things for the reader, as well as some partial because of the different accounts.
1. The total production from the fields = 4,669,898,152 billion barrels
2. production base = 2,348,437,726 billion barrels {production before tours calculated including production decline of 5% per year}
3. The increase in production over the basis {output} = 2,321,460,426 billion barrels
4. Financial revenues total production = 395,549,902,281 billion dollars
5. paid-up corporate costs and petroleum {additional} = 46,039,214,618 billion dollars
6. profitability of contracting companies = 2,257,271,507 billion dollars
7. Tax paid to the Treasury = 1,213,567,268 billion dollars
8. Gross Net financial return for the State = 348,356,488,855 billion dollars
"The good Valacod generally when seen over the years like any other investments, and natural prices of oil .. and that all installations and wells and oil reserves are the property of Iraq when these contracts expire .. and it may seem expensive when calculated over the days and months, especially at low prices oil, although the contracts great renaissance has launched in the oil sector in terms of quantities and resources and in the future, but it also revealed some of the economic and structural and procedural gaps in the patterns of work that must be cooperation with the House of Representatives, ministries and companies to correct their tracks. " Ended h