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Mahibis: These are the negatives and advantages of licensing rounds .. And how can be reviewed ??

Rocky

Rocky: Admin Assist; Posts : 277783
Join date : 2012-12-22

Post n°1

Mahibis: These are the negatives and advantages of licensing rounds .. And how can be reviewed ??

by Rocky Sun Aug 06, 2017 2:56 pm

Mahibis: These are the negatives and advantages of licensing rounds .. And how can be reviewed ??

The political scene Saturday, 05 August 2017

The member of the parliamentary energy committee MP (Abdul Razzaq Muhaibis) the negatives and the positive results produced by oil licensing rounds and contracts concluded with foreign oil companies invested.

Muhibis said in an exclusive interview with Sky Press: "These tours have positive and negative dimensions and the competent authorities should review what is negative for the purpose of making necessary adjustments to the benefits and guarantees granted to those companies.

The representative of Badr parliamentary bloc, the most prominent advantages of tours lies in raising the ceiling of production to a high level and a record period difficult for the Iraqi authorities competent to implement and it is hoped to achieve levels comparable to other oil exporters in a short period.

As for the negatives, they were summarized in the optimistic atmosphere in which the contracts were concluded. The negotiators considered that oil prices are on the rise. Therefore, the negative effects emerged clearly after the sharp drop in international oil prices especially since the benefits granted to companies were very high. Reflected on the amount of what Iraq gets for selling it per barrel, which does not exceed a few dollars.

The MP stressed the need to review the contracts and as known, "contract contract law" and no party has the right to disclaim any clause contained in the contract, but the competent authorities must follow the negotiation methods to reach an agreement to collect the benefits according to the quantity produced and not fixed, which would pay Those companies to raise their output and thus increase the profits of Iraq.

The licensing rounds granted the oil companies invested high percentages of profits based on the global price in the period of the contracts, which was prepared by specialists a big mistake will bear the consequences of Iraq as a result of the large decline in prices and may lead Iraq to pay money for production rather than obtained in the event Prices continued to fall.

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Mahibis: These are the negatives and advantages of licensing rounds .. And how can be reviewed ??

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