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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    What is the truth about the dispute between Exxon Mobil and Iraq? .. An expert answers

    rocky
    rocky
    rocky
    NNP TEAM
    NNP TEAM


    Posts : 246885
    Join date : 2012-12-21
    • Post n°1

    What is the truth about the dispute between Exxon Mobil and Iraq? .. An expert answers Empty What is the truth about the dispute between Exxon Mobil and Iraq? .. An expert answers

    Post by rocky Tue 21 Mar 2023, 10:52 am

    [size=45][size=41]What is the truth about the dispute between Exxon Mobil and Iraq? .. An expert answers[/size]
     two hours ago
    412
    [/size]

    [You must be registered and logged in to see this image.]
    The economist and university professor in Basra, Nabil Al-Marsoumi, explained, on Tuesday, the reality of the dispute between ExxonMobil and Iraq.
    Al-Marsoumi said in a blog post, "After the American Exxon Mobil sold 10% of its stake in the West Qurna / 1 field to the Indonesian company, Petromina, the company is trying to sell the remaining 22.7% of its stake to the Basra Oil Company."
    The economist explained, “One of the main points of contention is taxation. The value of Exxon's total share is estimated at about $350 million, and Iraq wants to impose taxes on the deal amounting to $120 million, while Exxon Mobil made a counter offer to pay a tenth of that amount.
    He added, "Even if the two sides can agree on the tax rate, it is likely that the Basra Oil Company will need allocations in the budget to pay for its share, i.e. the price of restoring part of the Iraqi West Qurna field."
    Al-Marsoumi continued, "The American multinational company had previously launched arbitration procedures against the Basra Oil Company in 2021 after the Ministry of Oil blocked its offer to sell its share to PetroChina and the China National Offshore Oil Company."
    And between the economist, “ExxonMobil suspended arbitration to allow time for more negotiations in 2022, but this détente ended and arbitration procedures resumed in December 2022, and it is known that oil licensing contracts do not provide for foreign companies selling their shares in Iraqi fields, but rather stipulate a waiver This process has been organized in a number of contract articles.”
    Al-Marsoumi pointed out that "this is the first time that an Iraqi company buys shares in an Iraqi field, as the Basra Oil Company previously acquired the share of the American Accidental Company in the Zubair field and the share of Shell in the Majnoon field without paying them a single dollar."
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Fri 02 Jun 2023, 3:55 pm