Iraq Is Heading For The Issuance Of Treasury Bonds Worth $ 12 Billion To Reassure Foreign Oil Companies !

[DinarThug]

CNN. Broadcasting The Issuing Of Bonds Which Will Pay Back More Than Double Later This Year !

 

I Hope They're Having A Monetary Rate Increase To Go Along With It !

 

 

 

 

(by walkingstick)

Iraq is heading for the issuance of treasury bonds worth $ 12 billion to reassure foreign oil companies

BAGHDAD / Ibrahim Saleh / Anatolia:



Iraqi Oil Minister Adel Abdul-Mahdi, said that his ministry will ask the government to issue treasury bonds (Treasury) worth $ 12 billion broadcast reassuring foreign oil companies that will reach their dues by the end of this year to 27 billion dollars. 

He said Finance Minister Hoshyar Zebari, last Thursday, the Bank reserves CBI foreign exchange declined to reach $ 68 billion now because of the financial crisis plaguing the country, which means the decline of about $ 9.7 billion from the level at the end of 2013, a decline of 12.5%. 

He said Abdul-Mahdi in a press statement, obtained by Anatolia, a copy of , that monitor the budget to repay foreign oil companies hardly covers dues accumulated from last year 2014 of up to nine billion dollars, noting that the problems that emerged after the formation of the government Tmthelta accumulation of dues companies and the collapse of oil prices. 

He predicted the IMF last month, that the deficit is growing in the Iraqi budget to 6.1% in the current year, up from 4.9% last year.

He said Iraq's oil minister, that the benefits of foreign companies during 2014 have accumulated about $ 9 billion, indicating that the dues for 2015 estimated at up to $ 4.5 billion for each chapter of the four-year, or about $ 18 billion. 

Thus recognize the Iraqi Oil Ministry, receivables accumulated while said last January, it is the city for foreign companies "entrepreneurship" (which holds the development and maintenance of oil fields in the country) any sums operations, and its relationship with those good companies and trusting, which led to the work programs and budgets for the year 2015 in accordance with Plans for the comprehensive development of all the oil fields in the country without any reduction, noting that the amounts actually received by these companies (late) receivables, had been agreed upon receipt of equivalent crude oil.

Iraq relies on oil imports to finance 95% of the budget, the country produces about 2.5 million barrels per day, with expectations to increase production to 4 million barrels a day. 

He denied Abdul-Mahdi, according to the statement, allegations talked about the ministry negotiate to convert development concluded oil fields in previous years, decades to sharing contracts or they negotiate for the granting of new oil patches on the basis of participation. 

Since 2009, Iraq entered into service with global energy companies to develop oil fields in decades after years of stagnation due to the embargo and war. 

He said Iraq's oil minister, said that the talk about joint ventures did not exceed the founding companies the government's stake in partnership with national companies or foreign in all business related to the development and marketing of oil, citing the example of a Basra Gas Company, where government partner retains 51% of the shares of the company and maintains Shell and Mitsubishi to 49% of the shares. 

The Iraqi government relies on oil contracts to raise the country's output of crude to around 8 million barrels per day in the next few years. 

He said Abdul-Mahdi, according to the statement, that he was making some adjustments to some of the companies decades before the formation of the current government, where the peak of production and the proportion of government partner to 5% rate cut rather than 25% and extended the time periods for decades. 

He added that the ministry negotiation companies are now in the direction of the return of the government partner's share of between 20 to 25%, as well as to discuss the production programs and rates peak periods execution of contracts, etc., not to mention improve motivation among companies on the one hand, and reduce the financial burden on the state of the other. 

The work in Iraq is currently about 17 investment company global and different nationalities (American, British and Italian, Russian, Malaysian and Chinese) to develop producing oil fields and explored, and that under the contracts in the first licensing rounds and the second, third, fourth, and is obliged to invest their funds to raise capacity productivity, that the government is committed to pay 50% of the funds disbursed annually, supplemented by earnings at a rate of $ 1.5 for each extra barrel. 

and spent companies during the past two years, about $ 43 billion, the government must pay $ 21.5 billion, in addition to 5.5 billion profit , so the total is owed ​​$ 27 billion, and these investments have contributed to an increase of production of about one million barrels, was built huge facilities enjoy all the luxury items, where he lives thousands of foreign experts. 

He said Iraq's oil minister, according to the statement, that there are proposals to link corporate profitability oil prices and not Only a lump sum for each additional barrel, and so are their profitability with high oil prices and decline with declining prices, and there is a second proposal, linking profitability by reducing costs to prevent the accumulation of dues to companies. 

It is expected that international oil companies contracting continue to implement their investment plans to invest about $ 87 billion until 2016 , that is to invest $ 27 billion in the current year and 60 billion next year. 

The total investment by international oil companies in Iraq has reached $ 17 billion in 2011 and 2012, the government of which paid about ten billion over the amounts of oil, and thus the total investments over the period of six years (2011 2016) about $ 147 billion. 

and made ​​Iraq's oil exports rose slightly last February to a record 2.597 million barrels per day compared to the export of 2,560 last January. 

seeks Iraq to raise its oil exports by adding 550 thousand barrels a day after the recent agreement between the central government and the region of northern Iraq. 

Iraq is facing an economic crisis that forced him to reduce the financial size of the budget as a result of lower oil prices to below $ 50 a barrel and start a policy of austerity, while the Ministry of Finance announced last month that it would increase taxes on some of the services provided. 

lost Prices Oil more than 50% of its value since the middle of 2014 until the end of January last, with prices close to the lowest level in six years. 

He acknowledged the Iraqi Council of Representatives late last month for the 2015 budget of the country after reducing expenses by about 4 trillion Iraqi dinars (3.43 billion dollars) to reach 119 trillion Iraqi dinars ($ 102 billion) and a deficit of 25 trillion dinars ($ 21.4 billion).

http://www.faceiraq.com/inews.php?id=3575535

[10 YEARS LATER]

Things that make you say Hmmmmm. Very interesting Thug -  RV first, Grab a few bonds, Wait for the Maturity date, Then More Money. I'm hip. Lets do it !

[Saintsfan]

[YukonJohn]

$27 B this year and $60 B next year...open the gates! These boy's wanna be on top!

[dutches45]

How does one get Iraq treasury bonds? Assumption is from any bank in Iraq when they become available. Wonder if a person can purchase online when they become available. Do we have info pinned on Iraq bonds or is this a new step in our venture? Ok..done with the questions now.

[DinarThug]

Here's Comments From AggieDad77 (Randy) On This Article ...

 

 

3-2-2015   Newshound Guru Aggiedad77   Article quote:  "Iraqi Oil Minister Adel Abdul-Mahdi, said that his ministry will ask the government to issue treasury bonds (Treasury) worth $ 12 billion broadcast reassuring foreign oil companies that will reach their dues by the end of this year to 27 billion dollars."   How can the government issue $12 billion dollars in treasury bonds today payable at the end of the year for $27 billion dollars unless they have a currency at the time that will allow such a gain to be made...HUGE HUGE news...add this to the contracts they work under that were set in place in 2009 and 2010...remember those days old timers...that would complicate the apple carts for them...to say the least...but am still working those bond numbers...incredible.

             

[sandfly]

THANKS CLOWN

[moneysoon]

This looks like a good deal to be had. They must know something we do not know.

[DinarThug]

THANKS CLOWN

UR WELCOME FLY-BOY !