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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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    Parliamentary Energy confirms not to require oil companies to extend their contracts for 50 years

    Rocky
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    Parliamentary Energy confirms not to require oil companies to extend their contracts for 50 years Empty Parliamentary Energy confirms not to require oil companies to extend their contracts for 50 years

    Post by Rocky Thu 21 Jan 2016, 4:26 am

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     Baghdad / Noor Ali Hamid Zahra 
     

    At the time there were conflicting Commission on oil and energy parliamentary comments on the requirement of oil companies operating in Iraq to extend the duration of its contracts for fifty years, said a spokesman for the Oil Ministry, Asim Jihad said the talks with these companies are constantly calling some lawmakers "not to launch random statements." 
    The Committee on Energy Parliamentary, revealed the requirement for oil companies to extend their contracts for fifty years, in exchange for the consideration of the review of these contracts and adjusted, warning that the review of these contracts will lead to a "loss of Iraq". 
    The Chairman of the Commission on oil and energy parliamentary Ibrahim Bahr al-Ulum, in an interview for the "long", that "no truth to the statements recently Ashiat regarding the requirement for companies operating in Iraq to extend the duration of its contracts for fifty years, but for short periods of up to five and possibly seven years." 
    He added by saying that "negotiations are still in their infancy, and I expect to be productive and satisfying and rewarding for all parties," noting "It is no doubt that the contracts may change and changes are some of the items where but it will be in the interest of both parties and reinforce the partnership between them." 
    He noted the Chairman of the Commission on oil and energy parliamentary "The negotiations resolved Economic Director, which al-Faisal, knowing the benefits that come to the parties, and that any change in the terms of the contract must be subject, which in turn will resolve the benefit of the parties. 
    "He continued by saying that" negotiations are still in their infancy and need to be for quite some time to make sure that would lead to him, explaining that he "stands with the review of licensing rounds contracts that put the parliamentary energy clause in the draft 2016 budget demanded the need for the government and the ministry's commitment to re-negotiate with the companies in order to improve some of the terms of the contract in line with the economic situation of the country's requirements. 
    "In turn, economist Ahmed Bureihi said in an interview for the" long "that" The oil ministry is able to negotiate with foreign companies to change some of the items task which can save a lot of money to the Iraqi government in light of the financial crisis in the country. 
    "He added that" the defect is located in the infrastructure associated with the development of the terms of the operations of the development of the fields to increase production, which cost the government an additional amount calculated on the overall price of a barrel of oil extracted. 
    "He said Bureihi that "talking about the extension of the contract period to nearly 50 years of talk is not accurate by investment companies as defined in the contract period ranging between 20-25 years which is sufficient for the advancement of the Iraqi oil sector." He said the "contracts concluded between the federal government and international oil companies allow cancellation if the Oil Ministry requested, but must provide the Iraqi cadres of engineers and technicians are able to take the lead in the coming period without relying on those companies." 
    He Bureihi "The Ministry of Oil discussing since period is not uncommon with foreign companies to reduce the development of oil fields costs, if we know that the cost of production per barrel of oil less than a dollar. "For his part, spokesman for the Oil Ministry, Assem Jihad, said in an interview with the (long-Presse)," The Oil Ministry in the process of consultation with the international oil companies operating in Iraq to modify some of the items in the contracts concluded with them to serve the common good. "He added," The ministry of those companies asked to reduce expenses related to the development of oil fields and this is what is happening now talking about it, saying, "When we get to the stage of re-drafting contracts, we will announce it in due course. "The Jihad that" dialogues with the oil companies take place in a calm dialogue to reach an agreement that serves the oil industry and the various threads both plans productivity and expenses Uwe relationship with these companies, "but he also said" today in all countries of oil there review of all activities oil, Iraq is one of those countries. "He continued," It is also in all the oil countries in the world, the international oil companies announced cut costs because of economic conditions that occurred after the collapse of oil prices, therefore, it is not limited to Iraq, just as some people think. " continued Jihad by saying that "our problem in Iraq, we are in a time where we're headed in the country to encourage investment in all sectors in the light of the economic crisis that beset it, and with that the Ministry of Oil has been a leader in attracting international companies reputed came Petknlogia and investments of large contributed to the development of the oil industry, which gave impression on the stability of the investment environment, but we see random statements issued from here and there. "He went on saying that" these statements do not serve the country in anything, the contrary is give the wrong messages to invest time Iraq is heading toward him in light of the economic crisis. "The Commission on oil and energy in House of Representatives attacked, in the (13 / December / 2015), the Ministry of Oil because of licensing rounds which it signed with foreign companies contracts, and confirmed that the contract was extended from 20 to 25 years and reduced the government partner's share, while the ministry blamed the rise in oil production costs due to those contracts.The international oil company BP, working in the Rumaila revealed, in (November 10, 2015), to provide international oil companies operating in Iraq proposals to the Iraqi side, to make adjustments to their contracts productivity, indicating that the Iraqi Oil Ministry, demanded to reduce expenses development projects as a result of the deterioration of oil prices.


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