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The ministry of oil ensured that the crude oil prices drop caused the decline of the financial revenues for the federal budget of 2015
3/18/2015
The ministry of oil ensured that the crude oil prices drop caused the decline of the financial revenues for the federal budget of 2015
which effected on the budget of the federal ministry of oil and caused a shortage in the allocations that covers the payments of the international contractor companies whom work in the oil fields according to the service contracts.
The ministry of oil held a joint meeting with the ministry of finance and the Iraqi central bank to rectify the problem that affected negatively on the oil products. The result of the meeting was an agreement to launch 12 billion dollars of securities from the treasury.
The launch of the securities was according to the section No.34 of the federal budget law for 2015, and the first payment will be in March while the other payment will continue consecutively.
The ministry ensured that these securities and the previous allocations of the ministry budget will ensure enough money to pay the dues of the international contractor companies for the year 2014 and for the plan of 2015.
The ministry ensured that this procedure shows the financial sobriety of Iraq. As well as it keeps a comfortable investment environment for the companies that works in Iraq to continue their projects application.
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3/18/2015
The ministry of oil ensured that the crude oil prices drop caused the decline of the financial revenues for the federal budget of 2015
which effected on the budget of the federal ministry of oil and caused a shortage in the allocations that covers the payments of the international contractor companies whom work in the oil fields according to the service contracts.
The ministry of oil held a joint meeting with the ministry of finance and the Iraqi central bank to rectify the problem that affected negatively on the oil products. The result of the meeting was an agreement to launch 12 billion dollars of securities from the treasury.
The launch of the securities was according to the section No.34 of the federal budget law for 2015, and the first payment will be in March while the other payment will continue consecutively.
The ministry ensured that these securities and the previous allocations of the ministry budget will ensure enough money to pay the dues of the international contractor companies for the year 2014 and for the plan of 2015.
The ministry ensured that this procedure shows the financial sobriety of Iraq. As well as it keeps a comfortable investment environment for the companies that works in Iraq to continue their projects application.
[You must be registered and logged in to see this link.]
