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To the Committee on Energy warns of selling Iraq's oil reserves
4/14/2015 0:00
Baghdad
warned of Oil and Energy Committee in the House of Representatives, the government from the sale of quantities of oil reserves on prepay, describing the matter as "serious."
A member of the Committee on the mass of the Kurdistan change, Kaveh Mohammad , in a statement singled out the "morning" that such a thing is dangerous for the country in the future, noting that the Committee has discussed on this subject and the seriousness of the application during the next phase.
He MP, that the committee decided to ask questions to the Deputy Prime Minister for Energy, Baha Araji, as well as Finance Minister Hoshyar Zebari, who announced details of this issue and its considerations, the Committee to be aware of all the issues relating to oil and follow up the matter.
The Finance Minister Hoshyar Zebari, revealed earlier, about the government's efforts to sell quantities of oil reserves on prepay.
He explained Zebari, that the government is planning oil sales of reserves, will also begin economic reforms to amend the oil contracts with Western companies Kabry.oadhav not yet quantities details and the value of these sales, known in the oil industry pre-funding is determined, but Iraq needs to liquidity to fund its military campaign against the "Daash "Terrorist To compensate for the revenues from oil, which fell due to insecurity and low price of crude oil in the market Alaalmih.oahar Zebari losses, that Baghdad also plans to change the way it manages contracts for exploration and production with oil companies (such as Royal Dutch Shell, BP, Exxon) and you'll learn contracts amended on behalf of the revenue-sharing contracts.
For his part, member of the Committee for the Liberal bloc, Mazen Mezni, said the sale of oil process in this way is a "great loss" to the people.
He said Mezni in a statement singled out the "morning" It must be adopted by other sources to finance the Iraqi economy instead from total dependence on oil, indicating that the Commission directed inquiries to the government and Oil Minister Adel Abdul-Mahdi to give clarification on this matter, stressing that the Committee will have a pause on it.
The move Iraq for the first time this shift to the adoption of production-sharing contracts, under which the division of revenues is by a percentage of the services that you get under which oil companies to draw contracts, and seeks Iraq to raise its oil exports by adding 550 thousand barrels per day after the recent agreement between the central government and the Kurdistan region.
This is the first action of its kind resort where Iraq's oil reserves, within the funds are management procedures emergency, as a result of the fiscal deficit, due to lower oil prices to below $ 50 a barrel and start a policy of austerity.
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4/14/2015 0:00
Baghdad
warned of Oil and Energy Committee in the House of Representatives, the government from the sale of quantities of oil reserves on prepay, describing the matter as "serious."
A member of the Committee on the mass of the Kurdistan change, Kaveh Mohammad , in a statement singled out the "morning" that such a thing is dangerous for the country in the future, noting that the Committee has discussed on this subject and the seriousness of the application during the next phase.
He MP, that the committee decided to ask questions to the Deputy Prime Minister for Energy, Baha Araji, as well as Finance Minister Hoshyar Zebari, who announced details of this issue and its considerations, the Committee to be aware of all the issues relating to oil and follow up the matter.
The Finance Minister Hoshyar Zebari, revealed earlier, about the government's efforts to sell quantities of oil reserves on prepay.
He explained Zebari, that the government is planning oil sales of reserves, will also begin economic reforms to amend the oil contracts with Western companies Kabry.oadhav not yet quantities details and the value of these sales, known in the oil industry pre-funding is determined, but Iraq needs to liquidity to fund its military campaign against the "Daash "Terrorist To compensate for the revenues from oil, which fell due to insecurity and low price of crude oil in the market Alaalmih.oahar Zebari losses, that Baghdad also plans to change the way it manages contracts for exploration and production with oil companies (such as Royal Dutch Shell, BP, Exxon) and you'll learn contracts amended on behalf of the revenue-sharing contracts.
For his part, member of the Committee for the Liberal bloc, Mazen Mezni, said the sale of oil process in this way is a "great loss" to the people.
He said Mezni in a statement singled out the "morning" It must be adopted by other sources to finance the Iraqi economy instead from total dependence on oil, indicating that the Commission directed inquiries to the government and Oil Minister Adel Abdul-Mahdi to give clarification on this matter, stressing that the Committee will have a pause on it.
The move Iraq for the first time this shift to the adoption of production-sharing contracts, under which the division of revenues is by a percentage of the services that you get under which oil companies to draw contracts, and seeks Iraq to raise its oil exports by adding 550 thousand barrels per day after the recent agreement between the central government and the Kurdistan region.
This is the first action of its kind resort where Iraq's oil reserves, within the funds are management procedures emergency, as a result of the fiscal deficit, due to lower oil prices to below $ 50 a barrel and start a policy of austerity.
[You must be registered and logged in to see this link.]
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