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Economic specialist calls to renegotiate with joint ventures oil licensing rounds
October 8, 2015
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - called for a specialist in economic affairs Raad Twigg government and the Oil Ministry to re-negotiate with the joint international companies in the oil licensing rounds, returned them "absolutely necessary" for the Iraqi economy.
He said Twigg's (IMN) that he "can not deny the importance of licensing rounds in a timely manner as a method of production of oil and investment in it, especially after the fall of the former regime, and on the basis of a proportional share in a barrel, but this method with the drop in oil prices has become rewarding for Iraq, but futile ".
He added that "it is not economic vision amount charged by oil companies consideration is the recovery of cost, since what borne by these companies across the oil investment operations are fixed cost and interview doubling of profits Taatqdaha those companies during the long investment periods, it may be appropriate quota in survival barrel for periods of boom. "
Twigg said that "the rise in oil prices is favorable in cases of recession and low oil prices, especially that the Iraqi negotiator in the negotiation phase for these tours did not bear in mind the issue of the decline in oil prices, which is required order to stop and review the re-negotiation and flexibility with global oil investment companies."
He called on the parliamentary finance committee member Haitham al-Jubouri earlier, the Iraqi government to cancel oil licensing rounds immediately, it represents the "theft of public legislator" of the wealth of the people, where they cost the state budget $ 21 billion a year.
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October 8, 2015
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - called for a specialist in economic affairs Raad Twigg government and the Oil Ministry to re-negotiate with the joint international companies in the oil licensing rounds, returned them "absolutely necessary" for the Iraqi economy.
He said Twigg's (IMN) that he "can not deny the importance of licensing rounds in a timely manner as a method of production of oil and investment in it, especially after the fall of the former regime, and on the basis of a proportional share in a barrel, but this method with the drop in oil prices has become rewarding for Iraq, but futile ".
He added that "it is not economic vision amount charged by oil companies consideration is the recovery of cost, since what borne by these companies across the oil investment operations are fixed cost and interview doubling of profits Taatqdaha those companies during the long investment periods, it may be appropriate quota in survival barrel for periods of boom. "
Twigg said that "the rise in oil prices is favorable in cases of recession and low oil prices, especially that the Iraqi negotiator in the negotiation phase for these tours did not bear in mind the issue of the decline in oil prices, which is required order to stop and review the re-negotiation and flexibility with global oil investment companies."
He called on the parliamentary finance committee member Haitham al-Jubouri earlier, the Iraqi government to cancel oil licensing rounds immediately, it represents the "theft of public legislator" of the wealth of the people, where they cost the state budget $ 21 billion a year.
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