Kurdistan: Oil imports amounted to one billion and 550 million dollars in August and passed most of the financial crises
Kurdistan: Oil imports amounted to one billion and 550 million dollars in August and passed most of the financial crises
2015/8/22 17:59
[Baghdad – where]
announced the Ministry of Natural Resources in the Kurdistan region, on Saturday, that imports of oil during the month of August this exceeded what it promised and amounted to one billion and a half billion dollars, and confirmed that the region was able to bypass most of the financial crises of 2014, and with the ministry indicated that it ensured the amount of $ 850 million a month until 2016 by providing oil to buyers in the future, pointed out that the region and the Ministry of Finance is responsible for the receipt of amounts of oil exports.
The Ministry of Natural Resources in the Kurdistan region said in a statement received by the agency all of Iraq [where] a copy of it, that “the ministry has achieved an increase in oil exports, in spite of political and economic problems and exposure oil pipeline extending from the region via Turkey to theft,” noting that “the ministry began twenty father to sell oil directly to put the buyers of the region’s oil amount billion and $ 24 million in addition to $ 187.5 million were added yesterday in the region accounts in Kurdistan International Bank for the benefit of the region Finance Ministry. “The statement added,” The $ 125 million will be placed in region account in 24 of this August, bringing the total amounts to one billion and 550 million dollars, “he said, adding that” the receipt of such amounts from the work of the Ministry of Finance in the region. “The statement stressed that” the Ministry of wealth has made payments exceeded what had been promised, according to contracts commercial, “pointing out that” the Government of the Territory and five Kurdish parties endorsed the region oil directly agreement for sale since last June the government was able to provide its expenses and staff salaries and payments to the oil companies to ensure their survival and raise oil exports, which is very important for the recovery of the region’s economy. “The statement continued, “The former head of the Government of Iraq Nuri al-Maliki made in 2014 to cut off the territorial Government employees’ salaries fully and cause a major financial crisis for the region,” adding that “the Ministry of Natural Resources and since then, even though the oil exports was able to support oil and gas, the highest in the region to find a Council an alternative to the territory of the source by increasing the switching capabilities oil pipelines and increased oil exports and to ensure the receipt of advance payments by providing oil to buyers in the future. “The statement stressed that” the Government of the Territory was able to bypass most of the crises of the financial entity for the year 2014 despite the non-payment of salaries of employees in a timely manner “pointing out that” the region faced during the 2014 sudden problems which have had a significant and direct impact on the financial situation of the region such as Daash war and gravity Economic caused by displaced people where there is in the region of more than 1.0008 million thousand displaced people in the region. “The statement noted that” the Government of the region and the support of the five Kurdish parties decided at the end of 2014 and after further discussions with the federal government to give a chance to the new Iraqi government headed by Haidar al-Abbadi and which included the provision of a specific section of the oil region of the company Sumo in front of dues whole territory of the federal government budget for the year 2015 and that up to one billion per month, which was ratified in the Iraqi government’s budget for 2015. “The statement, that” the Baghdad government was unable to fulfill was repaid three financial benefits during the first five months of 2015, adding to the economic crisis in the region and delayed salaries of employees, including Peshmerga and Interior Ministry “, noting that” the Ministry of Natural Resources has in-depth study in the spring of 2015, held a series of meetings with the Supreme Council for Oil and Gas in the region and the Council of Ministers and heads of the five Kurdish parties, the Kurdistan Parliament and parliamentarians of the Kurds in Iraq to clarify what will be in front of us and ahead of us. “The statement stressed that the “The Minister of Finance is backed by the Council of Ministers to reduce government expenses and the increase in imports in the region he did not find particularly to some of the decisions that were, however, the party to which he belongs to achieve reform program of political support,” adding that “the lack of budget from Baghdad and the non-implementation of the reform program has caused a delay of the Peshmerga forces’ salaries Interior Ministry. “The statement said,” The Kurdistan region has taken on 24 June a political decision to ensure the increase of oil exports from the Ministry of Natural Resources to reach 500 thousand barrels of crude oil from fields in the region, where it was hoped to remain oil price of $ 55 per barrel for the rest of the year 2015, “noting that” the region was expected to export up to $ 850 million to pay expenses and salaries of the latter territory. “The statement stressed that” the Ministry of Finance is responsible for the receipt of the amounts of oil exports from Kurdistan International Bank and Halk Bank in Turkey in accordance with the powers granted by the Prime Minister KRG Minister of Finance at the beginning of July to manage the movement of cash in the account Government of the Territory in Halk Bank in Turkey, in the absence of entry and other imports to Halk Bank for any reason must be entered in the Ministry of Finance calculated by the Kurdistan International Bank. “The statement noted “The Ministry of Natural Resources had to the completion of contracts with markets and buyers with the international history of the oil or which has been implemented in the third week of June by the Supreme Council for Oil and Gas was unbelievable for the implementation of the points above,” pointing out that “the Ministry of Natural Resources was forced buyers provide $ 850 million dollars a month, was to convince them to postpone oil receipt to the amounts paid in advance of 2014 and up to 2016 “. The statement called, and the Ministry of Finance in Kurdistan,” of seeking to prevent interference by any political party or hand in the work of the ministry, and not to monitor the work of the ministry, “calling to “the work of everyone in order to Kurdistan and a better life for the citizens.” End
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