Home
Basra calling for an increase to 3% of the petro-dollar allocations
On: Sun 12/18/2011 8:23
BASRA / agencies
new provincial council in Basra, demanding an increase of financial appropriations from the petro-dollar project to (3%) to ensure better services to the citizens of the province, according to an official source in the Council. A member of the provincial council in Basra, Hussein Ali, told the Kurdish news agency (Rn), that "the claim to the ceiling rate of the petro-dollar project allocations come to the inadequacy of the amounts allocated to the province because of the large scale of the devastation suffered by the province since the previous decades."
He pointed out that "the proportion (3%) would be a fair rate for the sons of Basra to provide what they need from service projects and construction", alluding to the need to "lack of selectors at the moment for the implementation of special projects in petro-dollars, since the adoption of large projects require a long time to develop discoveries and authentication In the case of determining the effect on specific times will lead to a random selection of projects. " Reached the overall financial allocations received by the province of Basra from the project petro-dollar projects and the development of regions for the current year Trliuna and 676 billion dinars.
[You must be registered and logged in to see this link.]
For his part, said an official of the Economic Development Committee in the provincial council, Mahmoud Almksusi (Rn), that "Basra province, economic and includes many strategic industries which required to provide great services worthy of their betterment in the economic. "
and demanded the Ministry of Planning and Finance for the allocation of funds belonging to the province of the draft petrodollars soon and that there would be authenticated quick projects provided by local government in order to ensure the allocation of these funds in projects with the feasibility true. "
and the House of Representatives Previous in (01/26/2010) majority, the 2010 budget, and according to Article 42 of the budget law has been allocated 5% of the total revenue actually border crossing points (land, air and ports) with the exception of sovereign revenues, to offset the border provinces, was also decided to convert the amount of one dollar for each barrel of crude oil producer in the province, and every barrel of crude oil refined in refineries, and for each 150 cubic meters of natural gas which is produced, to the budget of the province in accordance with Article 43.
and working in the province of Basra (550 km south of Iraqi capital Baghdad), which is the center of Iraq's oil industry, ten international oil companies from the most prominent companies (ENI) of Italy in the west of Basra, and Shell, Inc. (LUKOIL) and Company X-Mobil in areas north of Basra, as well as five companies specializing in the field of investment the gas.
The Oil Ministry has announced the launch of oil licensing round fourth on 25 April / April this year allocated to invest 12 exploration blocks in the areas of crude oil and gas, while Iraq had signed contracts with international companies to develop 11 oil fields discovered in the three rounds of the licenses would raise the country's production of crude oil to 12 million barrels per day within the next six years from 2.4 million barrels per day currently.
This is the first time had offered to Iraq sites exploratory investment since the fall of the former regime in 2003, Iraq has the fourth-largest oil reserves in the world , and oil revenues constitute 95 per cent of the state budget of Finance, but differences on the validity of management of oil wealth to prevent the issuance of a law that regulates the oil and energy affairs in the country.
Basra calling for an increase to 3% of the petro-dollar allocations
On: Sun 12/18/2011 8:23
BASRA / agencies
new provincial council in Basra, demanding an increase of financial appropriations from the petro-dollar project to (3%) to ensure better services to the citizens of the province, according to an official source in the Council. A member of the provincial council in Basra, Hussein Ali, told the Kurdish news agency (Rn), that "the claim to the ceiling rate of the petro-dollar project allocations come to the inadequacy of the amounts allocated to the province because of the large scale of the devastation suffered by the province since the previous decades."
He pointed out that "the proportion (3%) would be a fair rate for the sons of Basra to provide what they need from service projects and construction", alluding to the need to "lack of selectors at the moment for the implementation of special projects in petro-dollars, since the adoption of large projects require a long time to develop discoveries and authentication In the case of determining the effect on specific times will lead to a random selection of projects. " Reached the overall financial allocations received by the province of Basra from the project petro-dollar projects and the development of regions for the current year Trliuna and 676 billion dinars.
For his part, said an official of the Economic Development Committee in the provincial council, Mahmoud Almksusi (Rn), that "Basra province, economic and includes many strategic industries which required to provide great services worthy of their betterment in the economic. "
and demanded the Ministry of Planning and Finance for the allocation of funds belonging to the province of the draft petrodollars soon and that there would be authenticated quick projects provided by local government in order to ensure the allocation of these funds in projects with the feasibility true. "
and the House of Representatives Previous in (01/26/2010) majority, the 2010 budget, and according to Article 42 of the budget law has been allocated 5% of the total revenue actually border crossing points (land, air and ports) with the exception of sovereign revenues, to offset the border provinces, was also decided to convert the amount of one dollar for each barrel of crude oil producer in the province, and every barrel of crude oil refined in refineries, and for each 150 cubic meters of natural gas which is produced, to the budget of the province in accordance with Article 43.
and working in the province of Basra (550 km south of Iraqi capital Baghdad), which is the center of Iraq's oil industry, ten international oil companies from the most prominent companies (ENI) of Italy in the west of Basra, and Shell, Inc. (LUKOIL) and Company X-Mobil in areas north of Basra, as well as five companies specializing in the field of investment the gas.
The Oil Ministry has announced the launch of oil licensing round fourth on 25 April / April this year allocated to invest 12 exploration blocks in the areas of crude oil and gas, while Iraq had signed contracts with international companies to develop 11 oil fields discovered in the three rounds of the licenses would raise the country's production of crude oil to 12 million barrels per day within the next six years from 2.4 million barrels per day currently.
This is the first time had offered to Iraq sites exploratory investment since the fall of the former regime in 2003, Iraq has the fourth-largest oil reserves in the world , and oil revenues constitute 95 per cent of the state budget of Finance, but differences on the validity of management of oil wealth to prevent the issuance of a law that regulates the oil and energy affairs in the country.
