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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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    15 million dollars... looted money from the sale of oils at the Karbala refinery

    Rocky
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    15 million dollars... looted money from the sale of oils at the Karbala refinery Empty 15 million dollars... looted money from the sale of oils at the Karbala refinery

    Post by Rocky Sun 24 Dec 2023, 7:24 am

    [size=38]15 million dollars... looted money from the sale of oils at the Karbala refinery[/size]


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    December 24, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: The Federal Integrity Commission announced the return of more than $14 million lost as a result of the sale of heavy fuel oil from the Karbala refinery.
    Integrity reported in a statement, “A team was composed of the Commission’s Investigation Directorate in Baghdad and the membership of a representative of the Ministry of Oil.” To investigate suspicions of wasting billions of dinars in the contract concluded between the Oil Marketing Company and three companies to sell black oil at Matrouh Karbala Refinery,” noting that “following the team’s procedures, the company conducted a financial settlement report for contracts for the sale of Heavy Fuel Oil (HFO) at Matrouh Karbala Refinery.” Which resulted in the three contracting companies being obligated to pay an amount of compensation to the Oil Marketing Company equivalent to (14.5) million US dollars.”
    She stated, “The details of the case are that the oil marketing company committed violations represented by announcing the sale of the fuel oil product from the Karbala refinery based on the supposed specifications in the event that the refinery units were fully operational without there being an actual inspection of the product, and selling approximately (148,651) tons of fuel oil.” Light fuel as heavy fuel oil, with a price difference of approximately $131 per ton.”
    Al-Nazaha continued, “The calculation of the amount of waste, which amounted to (20,039,193) million dollars, is represented by the price discount granted to companies, which amounted to (160) tons,” pointing out that “this represents the difference in the transportation price (subtracted from the hook), in addition to the difference in the price of the monthly average.” The price difference between light and heavy, according to the global Platts bulletin.
    She added, “The Authority’s investigative and audit procedures resulted in reaching consensual solutions with the three companies. To pay the amount of compensation resulting from the difference in the specifications of the product carried by them during the months of April, May and June of the current year, and for the quantity amounting to (148,651,285) for the contracted specification, and to pay the settlement amount by deducting an amount of (12) dollars for the benefit of the Oil Marketing Company from each ton of quantities. Which companies will charge after resuming implementation of their contracts.”
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