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Neno's Place Established in 2006 as a Community of Reality


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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


    Only 35% of Kurdistan's oil revenues went to the region's treasury, and the rest was shared by the "

    Rocky
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    Only 35% of Kurdistan's oil revenues went to the region's treasury, and the rest was shared by the " Empty Only 35% of Kurdistan's oil revenues went to the region's treasury, and the rest was shared by the "

    Post by Rocky Wed 16 Aug 2023, 4:30 am

    Only 35% of Kurdistan's oil revenues went to the region's treasury, and the rest was shared by the "families."

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    Baghdad today - Sulaymaniyah
    Today, Tuesday (August 15, 2023), a member of the Oil and Gas Committee in the fourth session of the former Parliament (2018-2021), Ghaleb Muhammad, revealed the Kurdistan region’s exports of crude oil during its rule from 2018 until now, indicating that $15 billion in revenues entered For the budget of the regional government only .
    Muhammad said, in an interview with "Baghdad Today", that "the current Kurdistan Regional Government exported 820 million barrels of crude oil during its rule from 2018 to 2023," noting that "the revenues of this amount from oil exports amount to 41 billion dollars, when they were selling Oil is less than $  5 for Iraqi oil.
    He added that "15 billion dollars entered the budget of the regional government only from these revenues, which means only 35%," noting that "the remaining 65% went to local and foreign companies and transportation costs."
    He explained that "22% of the revenues go to secondary companies, which are transportation, services and protection companies, and most of these companies belong to the two ruling parties and their families."
    He pointed out that "for every barrel of oil issued by the regional government, the KAR company belonging to the president of the Kurdistan region takes an amount of 6 dollars, and this means that most of the oil revenues go to the ruling parties."
    The oil contracts signed by Baghdad with international oil companies are characterized as "service" contracts, in contrast to the Kurdistan Region's contracts with companies, which are called "participation" contracts.
    And the Ministry of Oil clarifies in a previous clarification that the financial terms of the service contracts are the best compared to the financial terms of the production-sharing contracts, indicating that in the production-sharing contracts for the fields of the region the contractor is given a share of the extracted oil in addition to the freedom to dispose of his share of the quantities produced and sell them at the place and time specified by the contractor, and this is contrary to Article 111 of the constitution, which clarified that oil and gas belongs to the Iraqi people,”  noting that the region authorized foreign companies to fully control petroleum operations through the terms of the production sharing contracts for the region, where one of those clauses included, “The government and every contractor entity has the right and obligation to sell or Disposing of their oil shares in kind,” indicating, “that is, the regional government has granted the contractors the right to sell its share of the produced oil and pay the government’s share.”
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