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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


    After the decision to compensate the region for the costs of oil production and transportation.. an

    Rocky
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    After the decision to compensate the region for the costs of oil production and transportation.. an Empty After the decision to compensate the region for the costs of oil production and transportation.. an

    Post by Rocky Today at 4:19 am

    After the decision to compensate the region for the costs of oil production and transportation.. an expert reveals damages and financial differences

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    Baghdad Today - Baghdad
    Economic expert Nabil Al-Marsoumi revealed, today, Tuesday (November 5, 2024), financial damages and differences in favor of Kurdistan as a result of amending Article (12/Second/C) of the 2023 budget, which indicates the equality of the costs of producing and transporting the region’s oil with its counterpart produced in the fields of the federal Ministry of Oil.
    Al-Marsoumi wrote on Facebook, which was followed by Baghdad Today, that "the new amendment includes assigning a consulting body to determine the costs in each of the Kurdistan oil fields, but the Ministry of Finance will pay $16 to Kurdistan as an advance for the cost of production and transportation, which will be delivered to SOMO and will be settled later." He added: "It is known that the cost of production and transportation of oil produced by the federal Ministry of Oil is $6.9 per barrel, while the region is demanding about $32.9 per barrel, distributed as follows: Cost of oil production = $24.32 per barrel, and cost of oil transportation = $8.59 per barrel."
    Earlier today, Tuesday, November 5, 2024, the Council of Ministers approved the proposal to amend Article (12/Second/C) of the Triennial Budget Law No. (13 of 2023) regarding the oil of the Kurdistan Region .
    The amendment to the proposal, according to what was stated in the Council’s decision, according to a statement from the Prime Minister’s Office, received by “Baghdad Today”, included that “the Federal Ministry of Finance shall compensate the Kurdistan Regional Government of Iraq from sovereign expenses for production and transportation costs, for the quantities of oil produced in the region that are received by the State Oil Marketing Company (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause, provided that the fair estimated costs of production and transportation are calculated for each field separately, by a specialized international technical advisory body, determined by the Federal Ministry of Oil in agreement with the Ministry of Natural Resources in the region, within (60) days of the entry into force of this law, and in the event of failure to agree within the aforementioned period, the Federal Council of Ministers shall determine the aforementioned advisory body .”
    The statement continued, "The consultant mentioned in the previous paragraph shall submit the estimated cost of production and transportation to the Federal Ministries of Oil and Finance, and the Kurdistan Regional Government of Iraq, and it shall be approved for the purposes of this law. The calculation of the aforementioned compensation shall be based on the aforementioned cost per barrel multiplied by the number of barrels received in accordance with paragraphs (a) and (b) of this clause, and the Federal Ministry of Finance shall undertake to pay the amounts to the Regional Government ."
    The statement also referred to "immediately starting to deliver the oil produced in the region to the State Oil Marketing Organization (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause, and the costs of production and transportation will be compensated by the Federal Ministry of Finance as advances, at a rate of (16) dollars per barrel, to be settled later after the completion of the specialized technical consultant mentioned above, and retroactively from the date of starting the delivery in accordance with this amendment.
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