A parliamentary committee warns of efforts to sell Iraqi oil for contracts at reduced prices … and proposes five alternatives
A parliamentary committee warns of efforts to sell Iraqi oil for contracts at reduced prices … and proposes five alternatives
11/26/2020 14:58:00
{Baghdad: Al-Furat News} The head of the Parliamentary Committee for Monitoring the Implementation of the Governmental Program and Strategic Planning, Hazem Al-Khalidi, announced his strong opposition to the Iraqi government’s efforts to sell Iraqi oil on long-term contracts for years to come at much lower current prices. Double future. ”
Al-Khalidi said in a statement that Al-Furat News Agency received a copy of, that “the injustice and loss resulting from these contracts is that Iraq is selling its oil at a price these days, which are very low prices, while those purchasing companies will continue to receive it within the next five years. The oil prices in them may change to double.” What it is now, especially if the world got rid of the Corona epidemic and its effects on the movement of the economy. ”
And with a simple calculation, calculating contracts to export oil in quantities of four million barrels per month according to current market prices will provide benefits of 1.5 billion dollars annually to these companies from the wealth of Iraqis, and the total loss for the five years of the period of export contracts exceeds seven billion dollars.
Al-Khalidi added, “There are other sources of revenue that exceed this amount in double digits that can be collected and for a shorter period of time.
1 – Combating the rampant corruption activities in the currency auction of the Central Bank and will
save at least 2.5 trillion dinars annually 2. Adopting strict monitoring mechanisms for the work of all border outlets including the region and their governance and will save at least (8-10) trillion dinars annually
3. Exempting Iraq from the rate Reducing its exports according to the agreement – OPEC Plus – amounting to one million barrels per day, and it will save when sold more than (17) trillion dinars according to the average price of forty dollars per barrel
4. Reviewing the licensing rounds that greatly doubled the cost of Iraqi oil production to rates amounting to nearly a third of total oil revenues There are times when oil prices fall.
5. Reviewing mobile phone licenses in a fair equation for the Iraqi state, paying its companies owed financial dues from taxes and debts, and saving at least several trillions of dinars.
alforatnews.com
