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Oil Ministry to pay dues of foreign oil companies
March 11, 2015
BAGHDAD / News Network Iraq -iatzm Iraq launch treasury bonds worth $ 12 billion to pay dues oil companies Alajunbah.ozkr statement of the Ministry of Oil: "The decline in crude oil prices in the global market led to a decline in fiscal revenue of the general budget of the federal 2015, which is reflected in the the budget of the Federal Ministry of Oil, which in turn led to a lack of financial allocations to cover the payment of financial dues to foreign companies contracting and working in the oil fields under the service. "She added the ministry for decades," he was a joint meeting between the Ministry of Oil and Ministry of Finance and the Central Bank of Iraq was held to address these consequences and its negative effects on Crude oil production in these fields rates, resulted from the meeting, to agree on the launch of treasury bonds worth 12 billion dollars, ".wachart that" the launch of treasury bonds, was based on Article 34 of the federal budget for the 2015 law, the first batch of which will be launched end of March being that the release of other payments continue successively ".waodan Oil Ministry said" The launch of these bonds in addition to the allocations set out originally in the Ministry's budget will provide sufficient funds are available to pay dues to foreign companies contracting both those amounts that have been carried over from last year in 2014, or planned spending In the year 2015, ".opent" This measure reflects the gravity of the financial situation of Iraq and maintains reassuring for all companies operating in the country's investment environment in order to sustain the implementation of vital projects. "
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March 11, 2015
BAGHDAD / News Network Iraq -iatzm Iraq launch treasury bonds worth $ 12 billion to pay dues oil companies Alajunbah.ozkr statement of the Ministry of Oil: "The decline in crude oil prices in the global market led to a decline in fiscal revenue of the general budget of the federal 2015, which is reflected in the the budget of the Federal Ministry of Oil, which in turn led to a lack of financial allocations to cover the payment of financial dues to foreign companies contracting and working in the oil fields under the service. "She added the ministry for decades," he was a joint meeting between the Ministry of Oil and Ministry of Finance and the Central Bank of Iraq was held to address these consequences and its negative effects on Crude oil production in these fields rates, resulted from the meeting, to agree on the launch of treasury bonds worth 12 billion dollars, ".wachart that" the launch of treasury bonds, was based on Article 34 of the federal budget for the 2015 law, the first batch of which will be launched end of March being that the release of other payments continue successively ".waodan Oil Ministry said" The launch of these bonds in addition to the allocations set out originally in the Ministry's budget will provide sufficient funds are available to pay dues to foreign companies contracting both those amounts that have been carried over from last year in 2014, or planned spending In the year 2015, ".opent" This measure reflects the gravity of the financial situation of Iraq and maintains reassuring for all companies operating in the country's investment environment in order to sustain the implementation of vital projects. "
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