Parliamentary Energy warns of mortgage Basra oil and stresses: the oil sector sovereign wealth not entitled to dispose of them
[Baghdad - where] He warned the Commission on oil and energy parliamentary member Jamal Muhammadawi, mortgaging of the province of Basra oil reserves.
He called Muhammadawi, on Monday, in a statement received by the agency all of Iraq [where], a copy of it, "the Minister of Finance and the government to stay away from work proposal payment on credit or borrow and provide sovereign guarantees for the payment of internal and external obligations to ensure the Basra oil plans", noting that "this is contrary paragraph 112, which obliges the government in coordination with the provinces. "
He added that "Basra will not be liable for those debts, loans and bonds, in any guarantees concerning oil resources without the involvement of the local government," stressing that "the oil sector represents a sovereign wealth for future generations is not entitled to the government dispose of them."
He explained Muhammadawi, "The oil sector is the key to development and prosperity for the future of Iraq's political and economic interests, especially if the size of the huge oil reserves qualifies for the occupation of Iraq and the global impact of an important place in the future of the global economy."
He pointed out that "the inability to management of national resources properly, which was made clear by the lack of previous budgets, planning and proper exacerbate the waste of public money resulting from the inefficiency of the administrative and financial corruption, resulting in damage to national wealth, which represents sovereign wealth for future generations."
The Finance Minister, Hoshyar Zebari, revealed Saturday, the determination of the government measure emergency funds through the sales of the reserve from the Basra oil, through the payment system in advance, and for the first time, and begin economic reforms to amend the oil contracts with major Western companies.
Zebari said, in a press statement "not yet the details of the quantities and value of those sales, known in the oil industry pre-funding is determined, but Iraq needs to liquidity to finance the military campaign against Daash To compensate for revenue lost because of falling world oil prices."
He noted that "Baghdad also plans to change the way it manages its exploration and production contracts with oil companies such as Royal Dutch Shell, BP, Exxon Mobil" .anthy
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