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Economy News - Baghdad
Today, Friday, the Federal Integrity Commission announced that it had monitored a waste of public money and violations in oil company contracts in Basra.
A statement by the authority stated, “The Basra Investigation Directorate’s work team monitored several violations in a contract concluded by the Iraqi Oil Tanker Company with a Bulgarian company to rent tankers to transport the product (ship fuel), and they were not taken into account by the company’s commercial department before signing the contract, despite the violations being confirmed.” By the Internal Control and Audit Department of the company itself, pointing out that “this caused significant financial losses incurred by the Iraqi Oil Tanker Company as a result of this contract.”
He added, "The preliminary details of a contract were seized to equip caravans with a fire system for the benefit of the Oil Exploration Company in Basra," explaining that "upon preparing the materials, which cost (350,000) thousand dollars, it turned out that the firefighting system was faulty, and that the company received it despite its fault, and did not file a claim." The company equipped to maintain it.”
He pointed out that “five defendants were arrested for tracking transactions in the General Company for the Distribution of Petroleum Products in the governorate, and that they were caught red-handed while they were tracking transactions for supplying (gas oil) for the benefit of the owners of private generators without any legal status,” stressing that “the specialized investigating judge decided to arrest the accused.” “Who took advantage of their relationships with company employees to provide feedback.”
Added 09/29/2023 - 1:08 PM
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