Parliamentary Energy Committee calls for reducing and auditing licensing rounds expenses
MARCH 14TH, 2020
In proposals to counter the decline in oil prices
Baghdad - The New Morning:
The Parliamentary Oil and Energy Committee called on the Ministry of Oil to take appropriate measures regarding low oil prices, and called on them to reduce the expenses of petroleum licensing rounds.
Committee member Sadiq Al-Sulaiti said in a statement seen by the new Al-Sabah: “There are several proposals submitted by the committee to the Ministry of Oil in an official letter to take appropriate measures, including reducing the cost and costs of oil extraction, as they differ between the extractor across national companies and licensing tour companies.”
He called for “the formation of specialized committees to reduce the expenses of petroleum licensing rounds, activating the role of the joint board of directors, transferring specific exchange powers of twenty million dollars, and reducing them to five million dollars, and following up the fragmentation of orders and contract appendices”, stressing “the need to audit all licensing round expenses and the validity of spending doors with canceling contracts Security companies, or reducing them to 25%, and assigning the ministries of the Interior and Defense to provide land for these companies.
Al-Sulaiti stressed, "The necessity of checking the quantities of crude oil produced and prepared by the region, the accounts numbers in which the amounts are deposited and a plan in coordination with the security agencies to stop the smuggling of crude oil and oil derivatives that cause waste of public money."