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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

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


    Southern Refineries employees warn of a plot to sell the company to the private sector

    Rocky
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    • Post n°1

    Southern Refineries employees warn of a plot to sell the company to the private sector Empty Southern Refineries employees warn of a plot to sell the company to the private sector

    Post by Rocky Sun 04 Jun 2023, 5:11 am

    [size=38]Southern Refineries employees warn of a plot to sell the company to the private sector[/size]


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    June 4, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: Employees of the Southern Refineries Company are demonstrating, which raises concern about the possibility of disruption of the operations of the south in the Oil Pipelines Company, despite the confirmation of the Director of the Southern Operations Authority in the Oil Pipelines Company on Sunday, Sadiq Jiyad, that the loading and unloading operations of oil products will continue and that they will not be affected by the demonstrations.
    The daily loading rate is about 5,000 cubic meters per day for gasoline and 4,000 cubic meters for gas oil.
    The demonstrations of oil workers are particularly sensitive given Iraq's dependence on oil imports to support the state's expenditures, and any delay in it causes serious disturbances that go beyond the local to the global.
    And Iraq is one of the largest oil producers in the world, and the decline in oil production as a result of the strike may lead to stopping or reducing production in Iraqi refineries. This means losses in oil production and exports, and thus a loss in government revenues.
    Hundreds of employees of the Southern Refineries Company continue their demonstrations condemning the Parliamentary Finance Committee's decision to impose taxes on the prices of crude oil sold to refineries, by increasing the price of one barrel to more than ten thousand dinars.
    However, the Parliamentary Finance Committee defended the decision by saying that it would contribute to filling the deficit in the budget, while the company's management believes that the aim of the decision is to push refinery companies into bankruptcy and declare them loss-making companies with the aim of selling them to the private sector.
    An economist revealed that the government is asking Parliament to also approve raising the price of crude oil sold to the refinery by up to 130%, which is causing a shock within those companies that operate on the principle of self-financing, while trade unionists said they had doubts about the existence of a plan “to make these institutions losers, so that It declares bankruptcy and is sold to influential parties financially and politically.”
    Workers in the southern and central oil refineries, especially Baghdad and Basra, staged a series of protests during the past days, against an item in the budget that talked about a slight tax on fuel prices, saying that this would incur huge losses for their companies, which are self-financing companies that are not funded by the government.
    The government fears that the implementation of these recommendations aimed at reducing the burden on the state will lead to great public anger, in economic and political conditions that are not ideal, as well as shocks to the Iraqi dinar, which depends entirely on crude oil exports, amid the fluctuation of the global oil market.
    The expected revenues of refineries from selling crude oil derivatives are 2 trillion and two hundred million dinars annually.
    The strike causes an increase in the prices of petroleum products in the local market, such as fuel, gas and diesel. This can affect public costs for citizens and businesses, and may increase inflation and economic pressures.
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