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Oil Minister: $ 14 billion loss as a result of the failed Iraq policy Maliki
Dated: March 30, 2015
BAGHDAD / News Network Iraq detect and Oil Minister Adel Abdul-Mahdi, for the loss of the state more than $ 14 billion paid in compensation to foreign companies operating in Iraq. He said Abdul-Mahdi said in a statement: "The Iraqi state has paid compensation to oil companies, as a result of disruptions bore responsibility , "noting that" the total payment of compensation since 2011 and the end of 2014 amounted to 14 billion and 448.146 million dollars, more than $ 3.6 billion a year on average. " He attributed Abdul-Mahdi, this loss to "poor planning or because of the application of restrictions and instructions and procedures work obsolete Tkhosrna more than protect us or defend our interests. " The Minister of Oil that "licensing rounds contracts stipulated in Article 12.5 of which he [the company extractive entitled to review your any proposed program of work or certified by the proposed level of production, has required under the notice, a written , from the contractor or operator to increase or reduce [reduce] the rate of production from the contract area for any of the following reasons]. " He said Abdul-Mahdi, that "the administration and the economy - in the conditions of the world Almasr- not administered laws and regulations and instructions eat forever them and drink, this is the real corruption and this is the big losses and real waste of money, and this is a real lack of planning and good governance. " The Finance Minister Hoshyar Zebari revealed in the 25th of this month that the government intends to manage emergency funds through sales of oil reserves payment system in advance for the first time and begin economic reforms modifying oil contracts with major Western companies. He also revealed earlier this month for "Iraq Study bond issue worth five billion dollars through the bank
City Bank Deutsche Bank to help cover the budget deficit."
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Dated: March 30, 2015
BAGHDAD / News Network Iraq detect and Oil Minister Adel Abdul-Mahdi, for the loss of the state more than $ 14 billion paid in compensation to foreign companies operating in Iraq. He said Abdul-Mahdi said in a statement: "The Iraqi state has paid compensation to oil companies, as a result of disruptions bore responsibility , "noting that" the total payment of compensation since 2011 and the end of 2014 amounted to 14 billion and 448.146 million dollars, more than $ 3.6 billion a year on average. " He attributed Abdul-Mahdi, this loss to "poor planning or because of the application of restrictions and instructions and procedures work obsolete Tkhosrna more than protect us or defend our interests. " The Minister of Oil that "licensing rounds contracts stipulated in Article 12.5 of which he [the company extractive entitled to review your any proposed program of work or certified by the proposed level of production, has required under the notice, a written , from the contractor or operator to increase or reduce [reduce] the rate of production from the contract area for any of the following reasons]. " He said Abdul-Mahdi, that "the administration and the economy - in the conditions of the world Almasr- not administered laws and regulations and instructions eat forever them and drink, this is the real corruption and this is the big losses and real waste of money, and this is a real lack of planning and good governance. " The Finance Minister Hoshyar Zebari revealed in the 25th of this month that the government intends to manage emergency funds through sales of oil reserves payment system in advance for the first time and begin economic reforms modifying oil contracts with major Western companies. He also revealed earlier this month for "Iraq Study bond issue worth five billion dollars through the bank
City Bank Deutsche Bank to help cover the budget deficit."
[You must be registered and logged in to see this link.]
