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Iraq Owes International Oil Companies $20 Billion
3/28/2015
The Iraqi Oil Ministry says that the current financial crisis is the reason Iraq is heavily in debt to oil companies working in the country. The Deputy Minister for gas refineries at the Ministry of Oil Fayaz Hassan told reporters that, “Iraq owes almost $20 billion to foreign oil companies working in the country.” He said that the government is making every effort to pay all the companies concerned. “The Iraqi Oil Ministry has met with the Finance Ministry and central bank to raise a $12 billion cheque, and within a month pass it to the foreign oil companies,” said Hassan. The financial crisis and drop in the price of oil are cited as reasons that have caused the delay in honouring debts.
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3/28/2015
The Iraqi Oil Ministry says that the current financial crisis is the reason Iraq is heavily in debt to oil companies working in the country. The Deputy Minister for gas refineries at the Ministry of Oil Fayaz Hassan told reporters that, “Iraq owes almost $20 billion to foreign oil companies working in the country.” He said that the government is making every effort to pay all the companies concerned. “The Iraqi Oil Ministry has met with the Finance Ministry and central bank to raise a $12 billion cheque, and within a month pass it to the foreign oil companies,” said Hassan. The financial crisis and drop in the price of oil are cited as reasons that have caused the delay in honouring debts.
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