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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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    The Office of Financial Supervision decides to oblige the regional government to hand over all oil p

    Rocky
    Rocky
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    The Office of Financial Supervision decides to oblige the regional government to hand over all oil p Empty The Office of Financial Supervision decides to oblige the regional government to hand over all oil p

    Post by Rocky Mon 06 Feb 2023, 5:50 am

    [size=30]The Office of Financial Supervision decides to oblige the regional government to hand over all oil production
    [ltr]2023.02.06 - 13:50[/ltr]
    [/size]
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    The Federal Office of Financial Supervision announced, on Monday, the obligation of the Kurdistan Regional Government to hand over all oil production.  
      
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    The Bureau of Financial Supervision said in a statement, which "NAS" received a copy of, (February 6, 2023), that "the Department of Auditing Industrial Activity in the Bureau of Supreme Audit has taken a set of measures - informing all concerned state institutions and public opinion about them - in order to implement the ruling of the Federal Supreme Court." By issue (59 / federal / 2012 and its units 110 / federal / 2019) on 2/15/2022, according to which the ruling was decided as follows:  
      
    1- The unconstitutionality of the Oil and Gas Law in the Kurdistan Region No. (22) of 2007 and its repeal for violating the provisions of Articles (110, 11, 112, 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.  
      
    2- Oblige the Kurdistan Regional Government to hand over all oil production from the oil fields in the region.  
      
    3- Follow up on the invalidity of oil contracts concluded by the Kurdistan Regional Government.  
      
    4- Oblige the Kurdistan Regional Government to enable the Iraqi Ministry of Oil and the Federal Financial Supervision Bureau to review all oil contracts concluded with the regional government regarding the export of oil and gas and allegiance in order to audit them and determine the financial rights owed by the regional government as a result of them.  
      
    5- The Kurdistan region’s share of the general budget is determined in a way that guarantees the delivery of the rights of the citizens of the region’s governorates from the federal general budget and not delaying it.  
      
    He explained, "These procedures were referred to briefly in the book of the Bureau of Financial Supervision - Department of Auditing Industrial Activity, number (11/28/2600) on 1/30/2023 addressed to the Federal Supreme Court - Office of the Chief Court," noting that "the Bureau is continuing In following up on what was stated in the executive axis of the Ministerial Curriculum / October / 2022, as far as it is concerned with coordination between the federal government and the Kurdistan Regional Government regarding files and decisions pertaining to the region, according to the detail referred to in the book, which lies in the following:  
      
    1- Diwaniya Order No. (7017) on 3/30/2022, according to which a committee was formed to audit oil contracts concluded from the Kurdistan region.  
      
    2- Diwan letter No. (1/2/13100) on 6/14/2022 addressed to the General Secretariat of the Council of Ministers - Representative of the Kurdistan Region for the purposes of enabling the Diwan to review the oil contracts concluded with the Kurdistan Regional Government.  
      
    3- Diwan letter No. (1/1/15/15826) on 7/26/2022 addressed to the Ministry of Oil for the purpose of providing the Diwan with a list that includes oil contracts concluded by the Kurdistan region, so that a work plan and audit program can be prepared in coordination with the aforementioned ministry.  
      
    4- The Diwan’s letter No. (11/28/16935) on 8/11/2022 addressed to the Prime Minister’s Office, explaining in it the Ministry of Oil’s approach to forming a specialized committee in the Diwan to audit the oil contracts concluded from the region.  
      
    5- The response of the Ministry of Oil / Legal Department, with its letters numbered (29767) and (22803) on 10/13 and 8/11/2022, to the Bureau’s letters numbered (19903) and (15826) on 9/13/2022 and 7/26/ 2021 respectively, indicating that the region refused to hand over any oil contracts and any data related to the subject, as the Ministry of Oil indicated that the paragraph contained in the decision regarding (committing the Kurdistan Regional Government to enable the Iraqi Ministry of Oil and the Federal Financial Supervision Bureau to review all oil contracts concluded with the Kurdistan Regional Government regarding Exporting oil and gas and selling it for the purpose of auditing it and determining the financial rights owed by the Kurdistan Regional Government as a result of it, and that the region’s share of the federal general budget be determined and not delayed after all the decisions of this decision of the Kurdistan Regional Government have been implemented and the federal government and the Federal Financial Supervision Board are notified of that). Executed and up to the date of the aforementioned letter of the Ministry of Oil.  
      
    6- Diwan letter No. (21513) on 10/4/2022 addressed to each of (the General Secretariat of the Council of Ministers / representative of the Kurdistan region, the Federal Supreme Court, the Ministry of Finance, the Ministry of Oil, the Office of Financial Supervision in the Kurdistan Region), including that this office Waiting for the preparation of the priorities and requirements for auditing to proceed with the task, or providing the Bureau with a list of these contracts and copies of them, so that the Bureau will be able to prepare for the implementation of the decision of the Federal Supreme Court, with the presentation that the Bureau has not been provided with any priorities from any party regarding the subject until the date of preparing this book.  
      
    Below we present a photocopy of the original:  
      
    1- The ruling issued by the Federal Supreme Court No. 59 / Federal / 2012 and its units 110 / Federal / 2019 on 2/15/2022, related to the unconstitutionality of the Oil and Gas Law in the Kurdistan Region No. (22) of 2007 and its repeal for violating the provisions of Articles (110, 11 and 112). And 115, 121 and 130) of the Constitution of the Republic of Iraq for the year 2005.  
      
    2- The letter of the Office of Financial Supervision - Industrial Activity Audit Department, No. (11/28/2600) on 1/30/2023 addressed to the Federal Supreme Court - Office of the Chief Court.  
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