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Iraq give up part of its sovereignty and share the oil with monopolies
BAGHDAD - Iraq Press - June 20: Finance Minister, Hoshyar Zebari, in a move are the most dangerous in Iraq's history that the government will begin economic reforms to modify the oil contracts with major Western companies such contracts are prohibited in many oil-producing countries because the patriots they consider an abandonment for sovereign wealth for the benefit of Foreign companies.
He said Zebari, in a press statement, 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 Mobil," adding that
"yet to be determined amount of details and the value of these sales, known in the oil industry pre-funding But Iraq needs to liquidity to finance the military campaign against Daash To compensate for revenue lost because of falling world oil prices," he described.
Zebari said that "the amended contracts in Iraq will know the name of (revenue-sharing) contracts, and Iraq must seize the opportunity provided by the crisis Daash for reform," he said.
The Minister of Finance "It is better now for us to rely contracts production sharing, and we are negotiating with all international oil companies, the federal government began to realize through the factual circumstances that revenue sharing is the best as it can not build the private sector and attract foreign investment with the adoption of an authoritarian socialist laws outdated".
The Finance Minister Hoshyar Zebari said earlier this month that "Iraq is considering issuing bonds worth five billion dollars through the bank Citi Bank and Deutsche Bank to help cover the budget deficit." Ended O.h
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BAGHDAD - Iraq Press - June 20: Finance Minister, Hoshyar Zebari, in a move are the most dangerous in Iraq's history that the government will begin economic reforms to modify the oil contracts with major Western companies such contracts are prohibited in many oil-producing countries because the patriots they consider an abandonment for sovereign wealth for the benefit of Foreign companies.
He said Zebari, in a press statement, 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 Mobil," adding that
"yet to be determined amount of details and the value of these sales, known in the oil industry pre-funding But Iraq needs to liquidity to finance the military campaign against Daash To compensate for revenue lost because of falling world oil prices," he described.
Zebari said that "the amended contracts in Iraq will know the name of (revenue-sharing) contracts, and Iraq must seize the opportunity provided by the crisis Daash for reform," he said.
The Minister of Finance "It is better now for us to rely contracts production sharing, and we are negotiating with all international oil companies, the federal government began to realize through the factual circumstances that revenue sharing is the best as it can not build the private sector and attract foreign investment with the adoption of an authoritarian socialist laws outdated".
The Finance Minister Hoshyar Zebari said earlier this month that "Iraq is considering issuing bonds worth five billion dollars through the bank Citi Bank and Deutsche Bank to help cover the budget deficit." Ended O.h
[You must be registered and logged in to see this link.]
