Basra oil and Ministry of Finance ..ohakiqh mortgage loans in favor of social benefits and corporate

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Basra oil and Ministry of Finance ..ohakiqh mortgage loans in favor of social benefits and corporate debt


Independent) / Nariman al-Maliki / .. sparked the news circulated by the media on what was known in the media as "mortgaging the Basra oil" for the benefit of the debt received by Iraq from the World Bank a lot of questions and mass rejection, with the lack of clarity and frequent chatter circulating in the media specialists and non-professionals.
Chairman of the Commission on oil and gas in the Basra Governorate Council denied reports that talk about an intention to pledge Basra oil by the Ministry of Finance or transfer of social benefits for the Federal Ministry of Oil, confirming the presence of mixing in the issue has not been properly understood in the media.
Ali said Shaddad Knight told The Independent that "there was no decision to transfer funds of social benefits to the Federal Ministry of Oil," stressing that "the social benefits and the $ five million dollars and is continuing in the process of study and current projects within the committee of the Basra Oil Company."
"We are continuing to study these projects as well as special Baloqdah and respects proposals in addition to the city center."
And the jockey that "the topic that has been confusion regarding which is the profit attributable to the Ministry of Finance of the public sector oil companies, not investment,"
He pointed out that "these amounts and after the allocation of money from them by the prime minister and of $ 130 million were approached these companies to transform those amounts attributable to the province of Basra have already been sorted out."
On the subject of mortgage Basra oil stressed Ali Shaddad that the provincial council "makes sure the Ministry of Finance about this place and there was no intention of the Ministry that the mortgage Basra oil"
He explained that "the Iraqi government have been awarded the Japanese loan and World Bank loans and certainly they need to mortgage bonds, and those bonds of oil and gas production in Iraq," and urged that "there is the role of local government in Basra this regard."
He stressed the need to jockey that "there is substantial amendments to the licensing rounds for decades that it has, in exceptional circumstances and did not study properly and accurately all the technical, administrative, financial, environmental and social aspects of being,"
He noted that "the conduct of those amendments will return to Iraq in general and SOC and Basra in particular."
He said that "those contracts where the estimated cost of $ 100 per barrel, and did not take into account the future status of the oil markets, making the Iraqi Economic currently flops."
And contracts for the licensing rounds (according to specialists) are contracts for the rehabilitation and development of producing oil fields explored and fields in terms of production of crude oil and associated gas from the field is ascending and for a limited period of up to seven years, all the way to the goal of production required during the time period from the date of activation and let (450) thousand barrels per day, and sustain production for 13 years to come the same amount, for example, post .fahi decades in production management, and at the same time is a technical service contracts to increase production and develop the fields in accordance with the best international petroleum industry techniques, as planned.
MP Amer winner said in a statement (Independent) on the subject that "any attempt to transfer funds social benefits are illegal attempts can not be let out."
He noted that "licensing rounds decades condition in which these special social benefits for areas that oil is extracted them and taking into account the conditions of those areas paragraphs environment."
He stressed "there is no project has been implemented by the ministry of that money to serve those areas."
He said al-Fayez said "The oil ministry has become indebted to these companies for an amount of $ 11 to $ 12 billion Ohz negatively affect the funds for social benefits that are the reality million dollars for each company and of course these funds have significant benefits on those areas in infrastructure has developed." .
He ruled out al-Fayez said "there will be amendments to the licenses for difficult rounds Asthaltha contracts or the existence of significant legal plot where the experience of those companies to conclude contracts and exploitation of the exceptional circumstances that had plagued Iraq."
And oil companies of investment (according to specialists) are a combination of major companies perform their activities and events outside the territorial boundaries of their countries, and works on a global scale, and has a great role in the activation and development of the global economy, has grown in size since the early seventies of the last century, spend huge amounts of money in research and development of oil, so spread its activities throughout the world, under the door of investment, relying on the availability of huge funds to have it credits you get from the big banks, and the unity of integration in their activities, whether such integration within the company mother or between it and its branches across the world, from the stage of research and exploration, extraction and production through refining, transportation and marketing through to distribution, as well as manufacturing Alaptrrukemiaoa. It is known and its history in Iraq starting from the granting of oil concessions in 1925 decades, through the issuance of nationalization law in 1972, and finally entering Iraq under the oil-door-licensing rounds now.
So between the president of the Federation of Oil Unions Hassan Juma told The Independent that "the local government in Basra have the right to sue the Ministry of oil if the money was withdrawn social benefits to the ministry."
He said Hassan Jumaa that "the reason for the existence of a paragraph funds for social benefits came as compensation for environmental, agricultural and spatial for oil extraction in those areas of disadvantage and therefore the right to these areas may not be for the oil ministry or any other ministry disposition of those funds."
Stressing that "the province of Basra, the first and only all oil activities by the international oil companies, especially those close to the drilling and extraction of oil operations affected areas."
He noted Friday to the "Union of the oil unions had forewarned the position of those contracts licensing rounds, where we have studied extensively studied"
He pointed out that "we warned in earlier times the risk of long-term contracts of up to 25 years, extendable and fearing that controls those oil giants over a large part of Iraq's oil and wealth,"
And called for the need to rewrite the drafting of those contracts, especially since the prime minister authorized oil minister earlier time approached these companies to modify those contracts. "
A number of experts in the oil and legal to field the four licensing rounds granted by the Iraqi government for a group operating in the oil extraction companies in accordance with the service contracts and the reference to paragraph 40, 41 and 42, the projects of social responsibility is not a project of charity, as some international companies trying to promote it is a moral responsibility and legal, according to the World Charter of the United Nations and observed by more than 500 global companies.


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