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Contracts in violation of the law .. A government is silenced on the "fifth licensing round" and for

rocky
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Contracts in violation of the law .. A government is silenced on the "fifth licensing round" and for Empty Contracts in violation of the law .. A government is silenced on the "fifth licensing round" and for

Post by rocky on Wed 29 Jan 2020, 2:56 am


[size=41]Contracts in violation of the law .. A government is silenced on the "fifth licensing round" and foreign companies account for Iraqi oil


2020-01-28
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Economist Nabil Al-Marsoumi wrote: Why is the government secretive about the fifth licensing round?
And the
decree explained the reasons for this discretion after him: 1. Because its contracts are illegal, as they were approved by the caretaker government that does not have the legal powers to sign such contracts that pertain to oil wealth and the economic future of Iraq.
2. These contracts are unconstitutional since they do not bring the highest benefit to the Iraqi people as stated in (Article 112-second) because of their waste of oil wealth, as they give foreign investors great benefits at the expense of
higher economic interest 3. They are production sharing contracts and not service contracts as The Ministry of Oil is trying to describe it as it contains all the elements of the participation contracts, including:
a. The length of these contracts is 25 years for development and production contracts and 34 years for exploration, development and production contracts.
B. International
Arbitration T. Oil cost up to 70%.
D. Oil profit in which the foreign company's share reaches more than 24% of the net profit
c. The foreign company controls the level of costs, production, and technology
4. Referral of three fields to the UAE Crescent Petroleum, the largest shareholder in the Dana Gas Company, which is on the black list because of its investments in the oil sector in Kurdistan. The other exception is Egypt and Yemen, in addition to that this company has a close working relationship with a number of officials in Iraq
5. It represents the deliberate exclusion of the national oil companies and the undermining of the national effort in developing the oil sector, especially as national companies such as the Basra Petroleum Company, for example, which is the fourth largest oil company in the world in terms of reserve and production levels and that have long experiences, management skills and human cadres qualified to advance this sector Instead of referring the Iraqi oil fields to a group of submerged companies.


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