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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Center for Strategic Studies: Iraqi oil corruption exceeded billions of dollars

    Rocky
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    Center for Strategic Studies: Iraqi oil corruption exceeded billions of dollars Empty Center for Strategic Studies: Iraqi oil corruption exceeded billions of dollars

    Post by Rocky Mon 13 Nov 2017, 10:38 am

    Center for Strategic Studies: Iraqi oil corruption exceeded billions of dollars


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    BAGHDAD (Reuters) - 
    Corruption in Iraq's oil sector has overtaken billions of dollars despite the Iraqi economy's reliance on 95 percent of its annual profits, the Center for Strategic Studies and Research said on Monday.
    The report pointed out that Iraq contained the largest oil reserves in the world, estimated at 143 million barrels, in addition to about 50-200 barrels have not been discovered so far, making Iraq the largest oil market in the world.
    He added that the Iraqi parliamentary parties cover the corruption of their members in the oil sector, which led to the flooding of the country with economic, political and security crises. Because of their efforts to hide the theft of oil ministry members for hundreds of billions of dollars.
    The reports and reports said that the export of oil and illegal smuggling since 2003, cost Iraq losses estimated at 120 billion dollars. Here comes the investigative work by the Australian media firm Fairfax Media and the Huntington Post media magazine, revealing their research on thousands of documents missing billions of dollars from the international donations department.
    He said that the stolen donations exceeded half the profits of the oil sector, from 2003 to 2015, where the theft of $ 800 billion, of international donations to finance the Iraqi security sector, agricultural and medical.
    She pointed out that the Iraqi constitution, agreed since 2005, stressed the belonging of oil revenues to the Iraqi people only, but did not specify the means of distribution of natural resources, and to determine the way of distribution of oil, was issued oil and gas law, in 2007. But the law is still pending implementation after 10 years.
    He pointed out that the economic observers are still wondering why the selection of the company, "Sumo" and its adoption as a leading company in the field of export and production of Iraqi oil, with contracts and annual documents are expensive for hundreds of billions of dollars, although the company did not publish its oil for government activities to any class of the Iraqi people. While the Iraqi parliament ignored the demands of a number of members of parliament to reveal the activities of the company "Sumo" and its financial contracts.
    "In addition to covering the oil sector only, in terms of production of Iraqi gas, Iraq produces 1.86 billion cubic feet of gas per day, but about 1.5 billion cubic feet of them, is burned and destroyed daily, because of the poor means of extraction and conservation of gas, that is Iraq daily loses about 7 billion dollars, of gas fields in the south. "
    At the end of its report, the center noted that the Iraqi oil is wasted due to corruption, and because of poor organization and lack of professionalism in extracting oil and gas resources, as well as lack of coordination between the government and members of society and lack of integrity and transparency, citizens are entitled to enjoy the wealth of the country equally and in accordance with international laws, The Iraqi government must be fair and avoid looting and smuggling, and show the activities of companies controlling the oil wells in front of the public.

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