Oil plans to reduce the production cost of licensing contracts and profits and parliamentary criticizes former officials
Long-Presse / Baghdad
, It confirmed the Iraqi Oil Ministry, said Saturday that consultations to amend the contracts for the international oil companies operating in Iraq, "a continuous and going quietly," and accused the committee of oil and parliamentary power of former ministry officials to "myopia", predicted that the amendments include the participation to "profit and loss."
A spokesman for the Oil Ministry, Assem Jihad, said in an interview to the (long-Presse), "The ministry is continuing in consultation with the international oil companies operating in Iraq, to review the licenses obtained by the contracts," noting that it "includes a review held every oil field on the unit to reach to achieve a new agreement on it the benefit of the parties, according to the understanding between them. "
Jihad said that "the terms of a licensing contracts offers the possibility of revision in the light of variables," adding that "dialogues with the oil companies are going about quiet so far."
He favored a spokesman for the oil ministry, that "changes to the oil licensing contracts include reducing production costs and the percentage of the profits," stressing that "The ministry will announce the details of each contract after the completion of agreed upon with the company concerned."
For his part, member of the Commission on oil and energy parliamentary, Aziz Ugaili, said in an interview to the (long-Presse), "The former officials in the oil ministry, did not think the changes that can occur to world oil prices, when they signed licensing rounds decades", pointing out that they "Think about all the profit is possible to achieve a timely manner."
He Ugaili, that "Iraq pay for that minor thinking after falling oil prices and has become the loss of its share of the unity", returned to "The current oil minister, Adel Abdul-Mahdi, working to modify some of the terms of licensing contracts by mutual consent, without that it means to cancel."
He predicted a member of the Commission on oil and energy parliamentary, that "moving the amendment to the share of loss and profit as is the case in the Kurdistan region", ruling that "the oil companies concerned rejects amendment licensing contracts," attributing the cause to "Rsantha and its commitment to non-Iraqi market loss, or not to get any new investment opportunity in the future. "
The oil minister, Adel Abdul-Mahdi, said in (the 29th of October 2015), the need to re-examine contracts of oil licensing about "guarantees the national interest", it returned to international companies involved should "bear the responsibility" on the drop in oil prices and the global market, when she saw the Southern Oil Company management, that the amendments to those contracts "do not require big changes," indicating that the company's production rate of about three million and 50 thousand barrels per day.
[You must be registered and logged in to see this link.]
Yesterday at 1:54 pm by ikea
» The Central Bank announces the imminent issuance of a decision regarding the possibility of printing a denomination of 20 thousand dinars
Wed Mar 29, 2023 10:08 pm by ikea
» Lawmakers: The three-year budget blocks the path of corruption
Wed Mar 29, 2023 3:18 am by ikea
» Social protection confirms the return of 17 billion to the state treasury
Wed Mar 29, 2023 2:07 am by ikea
» Crippling dollar shortage underscores vulnerability of Iraq’s oil-based economy
Tue Mar 28, 2023 5:25 pm by ikea
» The parallel dollar market.. negative effects that limit purchasing power
Tue Mar 28, 2023 12:09 am by ikea
» Planning: Iraq maintains the pace of population increase
Mon Mar 27, 2023 11:13 pm by ikea
» The Vinicial Times: The dollar crisis revealed the fragility of the Iraqi economy
Mon Mar 27, 2023 8:20 pm by ikea
» Al-Jawahiri: One billion and 500 million dollars is the value of Iraqi profits after international arbitration against Turkey
Mon Mar 27, 2023 7:57 pm by ikea
» Al -Abadi: The dollar smuggling rates in Bremer's time are the highest in the history of Iraq
Mon Mar 27, 2023 7:37 pm by ikea
» Unprecedented gains in the water and economy files... Political praise for the results of the Prime Minister's visit to Turkey
Sun Mar 26, 2023 6:55 am by ikea
» Guidance and warning
Sun Mar 26, 2023 5:50 am by ikea
» Pull leave and stop activity
Sun Mar 26, 2023 4:24 am by ikea
» A new plan to increase domestic production and export the surplus outside Iraq
Thu Mar 23, 2023 11:57 pm by ikea
» Economist: The dry canal project will bring Iraq large financial returns comparable to the Suez Canal
Thu Mar 23, 2023 10:24 pm by ikea