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DinarThug

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  1. This Is A Long Article - U May Just Want To Scroll To The Highlighted Areas ! Or Perhaps Just Plan On A Few Nap Breaks ... LINK Oil Policy: Indicators 12th October, 2018 by Ahmed Musa Jiyad The oil policy of the new government: content, justification and indicators In the next four years, as in previous decades, the oil sector is the backbone of the Iraqi economy. This requires, or prefers, that the next government should have a coherent, well-defined oil policy, objectives and means that serve the national interest. In light of this oil policy, the government is monitored, evaluated and accounted for periodically and according to quantitative indicators that are measurable, comparable and verified. This study aims to present a proposal for what is supposed to be included in the oil policy in Iraq during the next four years, which will monitor, analyze and evaluate the activity of the new government in various aspects of the oil sector. The oil and gas sector components and components and indicators (the longest part of the proposal); Federal oil and gas law; National Oil Company law; Relation with the territorial government; Transparency in the oil sector; Corruption problems in the oil sector; The oil sector and oil smuggling; the organic relationship between the oil policy and the general economic and development policy of the government; avoid duplication of the past; the role of experts and specialists. The preparation of this proposal is based on continuous follow-up and the use of official information, foundations, indicators and standards in the international oil industry. Emphasis on practical aspects and realistic evidence, not abstract or abstract theories, and starting from the policy of oil as an obligation to be implemented by the new government, not a guiding document or requirements. Formality to pass the government program. First: the structure of oil policy and the ruling regimes The previous governments have not submitted any specific policy on oil policy. As the current government will be under scrutiny and accountability based on its program for the next four years, the definition of its commitments or commitments regarding the oil sector and oil policy is what should be included in the "oil policy document." 1. It is preferable that the oil policy be presented as a separate document in its own right (or what is usually called the White Paper) or within the government program. It may be referred to in the government program and will be detailed later in a specific document. 2. Since the government program (prepared by the executive branch) is subject to the approval of the legislature, the oil policy document must be subject to the same approval. 3. The oil policy document should include the activities of the three basic sectors of the oil sector: The first includes exploration, development and production activities for oil and gas (Upstream). The second includes the activities of reservoirs, pipes, pumping stations and export facilities (Midstream) ); Note that the petrochemical industry falls within these activities, but in Iraq falls within the functions of the Ministry of Industry and Minerals and not the Ministry of Oil. 4 - The most important thing that should be included in the oil policy document is a number of variables that can be identified by quantitative indicators that are measurable and verifiable for all the activities of the oil sectors mentioned above in addition to descriptive indicators. This effectively means: First, to identify the starting indicators at the beginning of the implementation of the government program (let's assume the beginning of December 2018); Second: the goals indicators (estimated at three levels: minimum, possible and ambitious) that the government is committed to achieve and defined on an annual basis; Third, the financial, human, institutional and legislative requirements for achieving these goals; and fourth, potential challenges are categorized on the basis of the likelihood of the emergence of the challenge (high probability, potential and unlikely) and the effectiveness and impact of the challenge (very effective, influential and ineffective). 5. Since the government is accountable to parliament for implementing the oil policy, this requires that both authorities have an active role and a specific task in "following up and monitoring" the implementation of oil policy at least once a year. In implementation of this commitment, the Energy Committee of the General Secretariat of the Council of Ministers will be responsible for "follow-up" the implementation of the oil policy of the Ministry of Oil and the Oil and Energy Committee in Parliament the task of "monitoring" the implementation of the Government / Ministry of Oil for oil policy. Monitoring and monitoring reports should be presented, discussed and published periodically as a binding and agreed coordination action between the two authorities, different from parliamentary practices known as "summons". 6. The oil policy is reviewed and evaluated in light of the quantitative indicators detailed in the oil policy document and the above-mentioned "monitoring and monitoring" reports. In case of failure (compared to the minimum indicators), it is recommended to start the no-confidence measures or dismiss the Minister of Oil. Second: Components, content and indicators of oil policy It is possible, even necessary and practical, to determine the most important part of the oil policy document in each of the three sectors of the oil sector. (1) Exploration, development and production sector In this sector, he suggested that the oil policy document include the following: 1- Not to develop any new oil field except for the border fields (as discussed below) and not to refer any oil field produced or discovered to the international oil companies during the period of work of the new government. The following data were used in this area: According to the official information of the Ministry of Oil, the rate of Iraq's oil production reached 4.460 million barrels per day (Mbi) last August and that production capacity will exceed 5 Mb at the end of this year and will have a production capacity of 8 MB by 2025; (2) As the new government is limited by four years, it must focus and pay attention to achieving about 6.5 Mb at the end of its constitutional term; (3) that the oil fields contracted in the first and second rounds can achieve the required increase, especially that the final stages to reach peak production in the contracts of those fields will begin or be completed during the next government; (4) There is no indication on the international level of the oil market and the share of OPEC and the share of Iraq within the OPEC, which shows that the production capacity of Iraq during the next four years can or should exceed 6.5 Mb; (5) In the event that the rate of 6.5 Mb is justified, the development activities shall be "accelerated" within the limits of 8 Mb. 2- To limit any development of the non-contracted oil fields until August 2016 to the national effort exclusively with the use of the international oil service companies when necessary and within the traditional service contracts for the effectiveness and duration of the specified period; ie not to resort to contracting with international oil companies or holding license rounds to develop any Oil fields and structures discovered to date or to be explored during the next government. The justifications for this restriction are: (1) The activities of the national effort constitute the physical field for the development of human, institutional, knowledge and organizational capacities in this vital sector of the Iraqi oil industry; (2) depends on the activities of the national effort on Iraqi cadres and thus contribute, even relatively, to address the problem of unemployment, especially among young people technically qualified more than the international oil companies, which usually prefer foreign labor; as evidenced by demonstrations in southern provinces since last July; (3) As explained by the Ministry of Oil (but without providing physical evidence) that the cost of development through the national effort is much less compared to those carried out by the international oil companies; (4) Certainly, the validity of "decision-making" is absolutely Iraqi under the national effort, while it is a partnership with foreign companies under the rounds of licensing rounds, which require "unanimity" when making the decision in the "joint management committees" for each field; (5) The pattern, location and style of work of the national effort is usually locally while the offices of foreign companies are located outside of Iraq and this is reflected on the limited transparency of the work of foreign companies and the required effort, by the Iraqi authorities, to verify the credibility and realistic costs that companies claim to bear And paid. 3 - focus on giving priority to end the burning of associated gas. According to the latest statistical information available in the Ministry of Oil related to the month of August, which is clear that the percentage of burning associated gas in the southern provinces (Basra, Maysan and Dhi Qar) amounted to 60.4% of the total associated gas produced in those provinces. As for the percentage of all Iraq (excluding Kurdistan), it exceeds 56%. As the burning of associated gas represents a blatant waste of oil wealth and the waste of an important economic resource in addition to the enormous environmental damage at the time Iraq imports gas from Iran, it must include and ensure the oil policy of the new government as follows: (1) To oblige the international oil companies contracting and executing the fields covered by the second round of licenses to implement the contractual clauses relating exclusively to the maximum utilization of associated gas; (2) not to exempt any of these companies from their contractual obligations and to refer the matter to other companies outside the group that was originally contracted (as happened recently in the field of Gharraf); in addition to the consequent losses and additional costs unjustified legally / Contractual obligations. As it constitutes a contractual breach by the Iraqi side may lead to the activation of contractual material on international arbitration; (3) the full implementation of the instructions of the General Secretariat of the Council of Ministers on this subject and codified in Recommendation No. 51 of 2018 related to the work plan on the requirements of the World Bank loan in this area; (4) to determine the reduction in the associated gas burn and commensurate with the need to expedite the implementation of Iraq's obligations under the World Bank initiative known as "zero to the routine combustion of gas by 2030"; (5) the commitment of the government, especially the ministries of oil and electricity to provide gas required to generate electricity in specific quantities and timelines and the importance of the subject preferably to be monthly. 4. The development of the border fields is of particular importance, sensitive and distinguished by virtue of the possibility of joint development in the manner of "unification" with the neighboring country concerned, especially Kuwait and Iran. According to international experience, the adoption of the method of unification has the advantage in developing these fields because of many rationales and economic and operational considerations and sound management of the oil reservoirs. In anticipation of the high probability of adopting the method of unification with neighboring countries, I think that the oil policy document include the following: (1) Any activity relating to the development of these fields shall be limited to the national effort exclusively until a unified development agreement is reached with the concerned State; (2) In the case of the State concerned to accelerate the development of the border field unilaterally, the Iraqi side to give priority to the development of the Iraqi side of that field; (3) The Iraqi government takes the initiative to urge the neighboring countries (especially Iran and Kuwait) to complete the necessary agreements to start the actual development of the important border fields by the method of uniformity in force internationally. 5- The fifth round of licensing. After the comprehensive evaluation of the contracts of this round by a selection of Iraqi oil experts have been concluded that these contracts serve the interests of oil companies at the expense of the national interest in addition to the conflict with the principle of achieving "the highest benefit to the Iraqi people," confirmed by the Constitution. For the above reasons and to date, the current government has not ratified any of these contracts. And so I see: (1) that the next government does not ratify any of the contracts of the said round and returned them all to the Ministry of Oil; (2) Since most of the contracts of this round related to the fields and border exploration exploratory, so the subject should be reviewed in light of the above mentioned regarding the development of border fields in the manner of unification. 6 - absolute prohibition of the practices of negotiation with foreign companies and the conclusion of agreements and contracts with them behind closed doors without transparency and not to disclose them completely. I also believe that the next government will not ratify any of these contracts which were not ratified before October 2, 2018. The reasons for this prohibition are: (1) As the next government will be responsible for the implementation of its government program, the verification of the implementation of the government program requires transparency and disclosure and this is not possible when negotiations and contracts are confidential; (2) It can not be ascertained that contracts signed in secrecy achieve "the highest benefit for the Iraqi people" affirmed by the Constitution; (3) International experience shows that when such contracts have financial implications in secret or are not fully transparent, there is something important that the Contracting Parties want to conceal; (4) That international evidence indicates a strong correlation between lack of transparency and corruption; (5) Since everyone recognizes the widespread corruption in Iraq in a wide and influential, especially among leaders and decision makers at all levels, the lack of transparency in the negotiation and signing of contracts in the oil sector inevitably lead to corruption, and many evidence in this area; (6) Iraq has an international obligation with EITI to disclose and even publish contracts in order to be consulted and to ensure that it serves the interest of the citizen. 7 - The next government undertakes to accelerate the implementation of the project of injecting sea water as soon as possible, especially the first phase of the project and preferably not less than the contribution of the national effort in the operational 51%. The justifications are based on the following: (1) Since 2010, the Ministry of Oil has been discussing with some international oil companies about this vital project and it is time for actual implementation; (2) Water must be injected to sustain oil production and compensate for the decrease in the natural pressure of the reservoir. This requires the injection of large amounts of water in proportion to the oil production from the fields concerned; (3) Since the development of the fields of the first licensing round (Rumaila, West Qurna 1, Zubayr and three fields of Maysan - Bizergan and Fakkah and Abu West) enter or complete the final development phase during the next government, we are in fact a very awkward situation for the following reasons: The fields constitute the highest percentage of oil production in Iraq. Because they are productive fields and for many decades, the reservoir pressure is decreasing rapidly and at high speeds, which means the urgent need to inject water. Finally, the implementation and completion of the water injection project takes several years. (4) It is not limited to the fields of the first licensing round above, but need the fields of the second licensing round, especially Halafaya and West Qurna 2 and crazy and Gharraf to inject water and the same applies to the field Ahdab; (5) for cost considerations and acquisition of operational and technical experience and the possibility of implementing the project in two phases or more in the future, it is preferred to be the actual operational contribution of the national effort in the first phase by not less than 51%. 8. Refrain from demanding or calling for renegotiation of the contracts of the four licensing rounds. On the oil policy document of the new government to remember clearly and the futility of renegotiating the contracts of the first four licensing rounds. This position is based on the following data: (1) proved all specialized studies that the service contracts adopted in those tours give Iraq the best financial return compared to any other contracts, especially the contracts of participation in production, including contracts of the Government of the Territory; (2) Any renegotiation will give international oil companies a unique opportunity to obtain additional advantages that are very important and have a huge material impact at the expense of Iraq's interest for the duration of the contracts; (3) The former Minister of Oil, Abdul Karim Laibi, made significant concessions to the oil companies without Iraq getting anything in return, so Iraq has the most powerful and strongest negotiating papers; (4) The contracts of the first and second licensing rounds will be completed or reach the final stages of development of the fields concerned during the period of the new government; this means reaching the beginning of the peak production stage, which means covering the large percentage of the capital costs of the basic development of the fields and consequently any negotiation on these contracts or To change them is equivalent to the international oil companies, which is a flagrant violation of the Constitution - as mentioned above. 9. In the light of the above, the oil policy document should clearly stipulate the preference of service contracts for contracts of production participation, as well as the recognition that any form of production participation contracts and contracts of participation in revenues / profits are contrary to the principles of the Constitution. The justifications for such assertions are: (1) focus the efforts of the Ministry of Oil to monitor the implementation of the development of the fields concerned within the contractual controls and effective control of the development costs to ensure access to peak production targets; (2) provide some sort of stability and certainty in the contractual relations between the international oil companies and the Iraqi producing companies contracted with them; (Iii) to block attempts to convert existing service contracts into production-sharing contracts; (4) to block the attempts to adopt or call for or adopt any form of contracts of participation in production and contracts to participate in the returns / profits in the development of fields not currently contracted. 10 - Inventory of exploration activities by national effort only and when necessary in cooperation with foreign companies under technical services contracts limited duration. This recommendation is based on the following: (1) According to official statistics of the Ministry of Oil, oil reserves currently confirmed about 153 billion barrels. If we assume that production by the end of this year is 5 million barrels per day, the life of oil reserves is up to 84 years; (2) there is a very high probability that this reserve will increase significantly after the completion of the development of the fields of licensing rounds and the completion of exploration contracts, which means there is a very long time and appropriate to strengthen oil reserves; (3) The confinement of the exploration activity to the national effort constitutes a very important incentive to develop the advanced technical, knowledge and technological capabilities of the Iraqi cadres rather than relying entirely on foreign companies. 11 - Intensify the development of Iraqi manpower, address gaps in skills and expand the use of advanced information technology. Why? (1) The rapid and intensive development of Iraqi human resources and in the various related activities is one of the most important requirements of the development of the oil industry, which suffers from many knowledge gaps; (2) Under the contracts of licensing rounds the first four allocated a total of 62.2 million dollars annually (this amount has dropped to about 50 million now because of the withdrawal or freeze the activity of some international oil companies) for the above purposes, knowing that Iraq does not bear or pay these annual allocations, Borne by the international oil companies contracted; this means providing the necessary annual funding that must be used in full and efficiently; (3) It is assumed that the use of these annual amounts to increase the contribution of Iraqi cadres in the advanced positions and leadership in the management of these fields and to increase the contribution of Iraqi cadres working in those fields and not less than 85% as established in the contracts involved; (4) It is necessary to provide a detailed annual disclosure of how these assignments were used, their results and their actual effects in raising and developing the efficiency of performance and bridging the various knowledge gaps. (2) pipes, tanks and export installations (central sector) Because of the development of some of the oil fields contracted under licensing rounds the final stages, which means - as mentioned above - to increase oil production, this requires the necessary capacity of the pipelines, tanks, warehouses and oil export facilities. Accordingly, the oil policy document should state accurately and quantitatively the following indicators: 1. The capacities currently available (ie, before the new government assumes its functions officially) for each of the pipelines, reservoirs and export facilities of crude oil; 2. Projects currently under implementation and scheduling of completion of pipelines, reservoirs and crude oil export facilities; 3. The energies that the Government is committed to providing and the timeliness of pipelines, tanks and crude oil export facilities; 4. The above pipe and reservoir indicators shall not include those located within the limits of the area established for the fields contracted under the licensing rounds when such facilities are within the contractual obligations of the international oil companies concerned. The next government is committed to the non-establishment of any public or joint governmental entity or company to establish, buy or own, in whole or in part, any reservoir capacity outside of Iraq for economic development considerations. The next government pledges not to privatize any of the crude oil export facilities in the Arabian Gulf and not to refer any of the new facilities associated with the export of crude oil to private investment, whether Iraqi or non-Iraqi, for reasons of national security. The government is working to achieve "export flexibility" through the multiplicity of export outlets, especially the rehabilitation and activation of Kirkuk pipeline through Turkish territory; and through Syrian territory - when security conditions improved there and Jordan. And that the government should seriously consider feasible alternatives - both economically and strategically - in intensifying access to Asian markets by sea or through pipelines through Iran. Sumo occupies an important location and distinct privacy that goes beyond, in real terms and economic role, the oil sector to the entire Iraqi economy. In this regard, I think that the oil policy document include the following: 1. Providing and ensuring the necessary practical flexibility for SOMO, which helps it to carry out its "marketing" function efficiently and effectively according to the requirements of the market and its changes, on the one hand, and the relative importance of different types of oil produced (depending on the degree of density, sulfur content, etc.) 2. Not allowing Sumo to carry out activities outside its primary marketing mission without the approval of the government and parliament. The most important of these activities are characterized by risk or speculation or may result in losses or financial burdens or international obligations are "trading" and "hedge" and "share in profits" and "possession of physical assets outside Iraq"; 3. To compel Sumo Company to comply with all the controls and requirements of transparency and disclosure in all its activities, and to publish the monthly reports in a complete and regular manner. (3) oil refining and gas processing sector The liquidation and gas manufacturing sector suffers from many problems. The new government must carefully diagnose and determine what it will do to address it in the oil policy document, especially since the studies and statistical information indicate a large and chronic gap between the quantity and quality of domestically produced petroleum products and local demand patterns. Iraq has to import large quantities to fill the deficit due to the introduction of refineries and technology used. The most important evidence of this is the proportion of fuel oil production, which during the first half of this year accounted for 45% of the total production of Iraqi refineries. The most important thing that should be included in the oil policy document is a set of quantitative indicators for the initiation, objectives and actions that the Ministry of Oil should undertake as follows: 1. Detecting the design capacities and actual operational capacities of each of the currently operating refineries and indicating the quality and quantity of all petroleum products produced therein (initiation line indicators); 2. Disclosing the quantity, quality and value of all exported and imported petroleum products; 3 - Determine the size of the design capacities and operational capacities of the new refineries that will be established during the period of government and the quality and quantity of all petroleum products to be produced by these new refineries (target indicators); 4 - The new government is committed to complete the construction of Kerbala refinery during the period of its mandate and give this preliminary refinery to complete it as soon as possible; 5 - The government is committed not to refer or accept the establishment of any refinery in the manner of investment does not have - at a minimum - European standards No. 5; 6. The Government shall absolutely refrain from purchasing or participating in the purchase, construction or participation in the construction of any refinery outside Iraq; 7 - The government undertakes not to allow any form of competition between the Ministries of Oil and Industry and Minerals in the field of petrochemical industries because this is causing serious damage to the Iraqi economy and the waste of efforts and financial resources (such as the case of the FAO refinery, which was transmitted without FEED studies and its impact on the project Nebras Petrochemicals). The Ministry of Oil is concerned with the liquidation sector and the Ministry of Industry and Minerals is concerned with the petrochemical industries; 8 - Terminating the contract of Maysan Investment Refinery, which was referred several years ago and suspiciously to Starim bankrupt company financially and non-qualified technically and non-specialized in terms of experience, which has not been completed until the date of anything !! 9 - Stop boring repetition in the re-advertisement of many refineries in the manner of investment, which has not been prepared FEED studies (such as Wasit refineries, Diwaniyah and Muthanna) without a small result, indicating the lack of interest of serious investors of those refineries. The new government should not wait and promise to start implementing at least one of the refineries that have paid Iraq millions of dollars to many international consulting companies to prepare feasibility studies and FEED studies. In contrast, Iraq will continue to import oil products, estimated at an annual cost of three billion dollars. 10- Urge the Basrah Gas Company to accelerate the development of its production capacity to reach the level of production specified in the contract and commensurate with the increase of gas associated with the oil fields Rumaila and West Qurna 1 and Zubair; This in turn will contribute to reduce the amount of burning associated gas on the one hand and increase the export revenues of liquefied gas and condensates Produced by the company. As the Gas Company of Basra is a joint company owned by the Iraqi government by the South Gas Company 51% of its shares, so the policy policy to determine the amount of oil in the production capacity of the Gas Company of Basra and its timing. The company should also publish information about the locally marketed products that have been exported and the revenues generated. Third: Federal oil and gas law There are at least four drafts of this law, all of which have become outdated and can not be implemented. Therefore, the next government has two alternatives: either the failure to introduce the law or introduce a new draft law is completely different and radical than any of the old versions of the law. If the second alternative is chosen, the 10-year experience with the above four formulas suggests that this requires intensive, complex and long-term efforts and may not work in the end. Fourth: The law of the Iraqi National Oil Company The appeal against this law submitted to the Federal Supreme Court by Iraqi citizens proved that the regulations submitted (October 3, 2018) to this court by both the legal agents of the Prime Minister and the Ministry of Finance correspond to the unconstitutionality of many articles of this law which may pay The Federal Supreme Court to accept the challenge of the law. Here, the new government has two alternatives: Either completely disregard this law or introduce a new draft law that is fundamentally and completely different from the law being contested. But strange and within the pre-move to impose the fait accompli on the next government was appointed the current oil minister on October 9, 2018 President of the company !!!!! Fifth: The relationship with the territorial government The relationship between the federal governments and the region has a long, complex and difficult history since 2003 and so far. In view of the evidence and known positions, it is expected that the new government will solve the problems related to the oil issue with the Kurdistan Regional Government, but it must also insist on preserving the supreme national interest, which was raised during the past years and can still be summarized as follows: 1. The unconstitutionality and legality of the contracts signed by the provincial government with the various international oil companies (note that this is the subject of the lawsuit filed with the Federal Supreme Court against the territorial government several years ago, which has been activated recently and the case still exists to date); 2. Restrict all oil exports to SOMO and consider any export of crude oil outside SOMO smuggling and illegal trade (this is what all the federal governments, including the current ones, have officially stated); 3. Do not deal with Sumo with any of the companies or oil tankers that transfer and sell Iraqi oil smuggled through the region (and this is what Somo actually implemented); 4. Never allow the control of the regional authorities on any of the oil and gas fields belonging to the oil and gas companies of the north (and this is what was achieved after the defeat of the call for the restoration of control of the federal authority on Kirkuk at the end of last year); 5. not to allow the authorities of the region to do (or agreement with foreign companies) any exploration or development activity in the common or disputed areas (and this is the position of the Federal Government); 6. The failure of the Ministry of Oil to deal with any foreign oil company currently or in the future in any exploratory or developmental activity in the region (this prohibition is still in force despite the current oil minister violating it in favor of a UAE company for reasons that must be investigated officially); 7. The continuation of the Ministry of Oil under the pretext of international arbitration submitted to the International Chamber of Commerce Paris against the Turkish companies and government for violating international agreements signed between the two countries, especially those relating to the Kirkuk-Ceyhan oil pipeline line (which the Iraqi Oil Ministry estimates will win the lawsuit and large financial compensation); 8. Obligation of the territorial government to implement the provisions mentioned in the federal budget laws since 2004 concerning the settlement of the receivables of the export of oil revenues and other by the provincial government to the Federal Ministry of Finance (as mentioned in the annual budget laws and detailed report of the Federal Financial Control Bureau); 9. The demonstrations of citizens in Basra and the southern oil-producing provinces will not allow the federal government to give the region more than its benefits on the basis of the proportion of the population and on the basis of the delivery of all oil produced in the region to the federal government and issued from it be through the company Sumo (raised a banner reading " Basra for Basra "); 10. Finally, Iraq can not and should not bear all the burden of OPEC decisions when reducing production. It is assumed that Iraq's relationship with OPEC has, or should have, an importance and role in the oil policy of the new government. But in return there are many factors and considerations that may lead to believe that the new government does not implement or succeed in the above task, including: 1. The role of what is known as "balanced and influential personalities" in the internal political situation and in the relationship between the two governments. For example, if Adel Abdul Mahdi receives the presidency of the government, his positions (as a friend of the Kurdish people as Massoud Barzani) and his well-known views contradict and contradict with the above; 2. The elections in the region, held a few days ago, are still subject to disagreement and opposition, and there is considerable skepticism about their transparency and credibility, which means that their results will not be recognized, which will inevitably affect both the parliament and the composition of the provincial government. 3. The election of the President of the Republic of Iraq has deepened the differences and tensions within the "Kurdish House" and may push the government of the province (controlled by Barzani family) to harden their positions with the federal government; 4. The problem of transparency and the fate of oil export revenues continues to be pursued by the provincial government despite the "formal" reports that were issued before the elections in the region; 5. The accumulation of the debts of the territorial government and the practices of "dependence" on the future oil revenues that have caused the region in the "debt trap"; 6. The improvement in international oil prices may feel the government of the region under the weight of "financial pressure" on them, reducing the need for quick resolution of outstanding issues mentioned above with the federal government. Sixthly, transparency in the oil sector has decreased As the oil policy document covers many topics and includes a wide range of indicators of goals, which is the most important achievement of the criteria of the government's assessment, the document requires the adoption and determination of all quantitative and descriptive standards of transparency in the extractive industries and the rest of the activities of the oil industry, The Ministry of Oil must implement it fully. The most important standards of transparency is the dissemination of accurate and complete information at specific time and periodic times related to the activities, achievements, contracts and negotiations of all bodies, departments and companies of the Ministry of Oil and foreign companies contracted according to international standards. And that the Ministry is committed to follow up the consequences of the dissemination of such information from opinions, studies and reports. Seventh: Problems of corruption in the oil sector and oil smuggling It is not new to say that corruption has become a widespread and institutionalized phenomenon in Iraq and in the Ministry of Oil where there are a large number of explicit or implicit accusations and sometimes even names and even sums indicating the involvement of senior officials in the ministry. But it is strange that no official in the ministry or its companies, who have been charged or suspected of corruption, has taken legal action against those charged. There have also been increasing cases of overtaking oil pipelines and oil products and the emergence of the phenomenon of "smuggling of oil", especially in the province of Basra and also referred to the involvement of officials in this phenomenon. Because of the negative and catastrophic effects of various forms of corruption and oil smuggling on this sector and on the national economy, the oil policy document of the new government must take a decisive, clear and strong position to combat and eliminate these negative phenomena and identify the means and indicators that will be used to prove the completion of its commitments. Eighth: The organic relationship between the oil policy and the economic and development policy of the government Because of the structure of the Iraqi economy adopted largely, if not entirely, on the oil sector, oil policy has an effective impact on the economic development policy of the country as a whole. Reconstruction, debt repayment, and the provision of basic services and requirements that previous governments have failed to provide require the new government to coordinate fully and fully. However, because the National Development Plan 2018-2022 is, as its predecessors, indicative and not binding on implementation, while the government program is binding and will assess the government in the light of its implementation, it will depend on the details of the government program and the consistency and harmony of the various policies, tools and entities that will be adopted by the program. Ninth: Avoid duplication of the current government program, which focused only on "increasing oil and gas production to improve financial sustainability" and in brief general terms without quantitative indicators that can be used to measure achievement. While the task of the new government - the Government of providing services - assumes, as mentioned above, many of the goals and tasks that the new government undertakes to implement and indicators of implementation and verification. At the same time, Iraq should not be seen as a testing ground for utopian ideas that are not well thought out and are not economically and socially feasible and move away from populist ideas and practices. The demonstrations in the southern provinces clearly indicate the gravity of the situation. Tenth: the specialized professional role of Iraqi oil experts and economists In the light of the importance of oil policy and its effective impact on the Iraqi economy rests with all the faithful and keen on the interest of the country and the good use of its oil wealth, especially experts and specialists oil and economists together and stand firmly and force against all attempts to harm the supreme interest of the Iraqi people.
  2. DinarThug

    The RV Holdup Has Now Been Resolved.

    Oh Crap - There I Go Shooting My Mouth Off Again !
  3. Bunk Senior Member It’s Absolute ‘Mayhem’ - See His Avatar !
  4. Wtf - That Idiot Pumper TerryK Was Acquitted ?
  5. LINK Detecting a major economic boom in the 2019 budget 11th October, 2018 The economic expert on behalf of Antoine on Thursday revealed that the initial draft of the budget law of 2019 included a major economic boom for the country by increasing investment expenses at the expense of operating expenses, which contributes to the increase of work and attracts large hands Antoine told "Iraq News" that "the fiscal budget of the country for the year 2019, included an increase in investment expenditures by 32 trillion dinars, pointing out that this increase has become this budget more than current operating expenses, which is contrary to the budget of 2018, which was operational higher Of investment He added that "this increase in investment spending, will revive the private sector and investment in the country, which contributes to increase the recruitment of labor and reduce unemployment rates in the country The draft draft law of Iraq's budget for the next year 2019 revealed that the estimated revenues were calculated from the export of crude oil based on the rate of 56 dollars per barrel and an export rate of 3 million and 880 thousand barrels per day, including 250 thousand barrels per day of the quantities of crude oil produced in the provinces of Kurdistan Based on the disbursement of 1182 dinars per dollar The draft indicated that the total deficit planned for the federal budget for fiscal year 2019 amounted to 22 trillion and 873 billion and 365 million and 557 thousand dinars "The deficit will be covered by the deficit from the abundance of rising crude oil prices or the increase in crude oil exports," she said The draft said that "the share of the Kurdistan region of the total actual expenditure by the souls of each province after the exclusion of sovereign expenditures, noting that the failure of the Kurdistan region to pay the federal revenues received to the federal public treasury will be deducted the quota set for them and the reconciliation is carried out later The draft banning the recruitment of all state departments in the manner of contracting with the possibility of renewal of previous contracts in the case of necessity and calculated the duration of the contract to install permanent owners of the actual service and stop appointments in the three presidencies (the House of Representatives and the Presidency of the Republic and the Council of Ministers and its affiliates The amendment of the tax rate of the Real Estate Tax Law No. 162 of 1959, amended under section 6 of Coalition Provisional Authority Order No. 49 of 2004, from 10% to 12% of the annual revenues of real estate properties
  6. DinarThug

    The RV Holdup Has Now Been Resolved.

    Well It’s A Good Thing That’s Finally Resolved ! And U Can Thank Ur Lucky Stars, Pink Hearts, Yellow Moons And Green Clovers That We’ve Got Luigi ...
  7. CNN. Broadcasting From Behind Bars ! Bartender - Gimme A Double ! https://www.ajc.com/news/local/atlanta-men-convicted-iraqi-currency-scheme-that-made-millions/TnZKdwcZ3sknlU4XRkvcGN/ 3 Atlanta men convicted in Iraqi currency scheme that made millions 12 hours ago By Becca J. G. Godwin, The Atlanta Journal-Constitution Share on Facebook Share on Twitter ... More Atlanta-area men who made millions by selling foreign currencies have been convicted on charges they schemed to defraud investors, federal prosecutors said Wednesday. Sterling Currency Group co-owners Tyson Rhame and James Shaw and Sterling COO Frank Bell were convicted of mail and wire fraud conspiracy and multiple counts of mail and wire fraud. Rhame and Bell were also convicted of making false statements to federal law enforcement agents. The men were convicted by a federal jury following a five-week trial. Evidence showed the defendants made investors believe they would get rich by investing in the Iraqi dinar because it was about to revalue. Such a revaluation did not come. Sterling grossed more than $600 million in revenue from the sale of the Iraqi dinar and other currencies, while Rhame and Shaw received more than $180 million in distributions between 2010 and 2015, a news release said. Records showed Rhame and Shaw had mansions, luxury cars and property along the Florida panhandle. According to emails cited in a complaint in U.S. District Court in Atlanta, the men knew they were committing a crime. “We are risking serious jail time as promoters of a Ponzi scheme…” James Shaw wrote Rhame in a 2010 email. Shaw also said in the email that his wife had been “very nervous” and “crying” because “she knows we are running an illegal operation.” Rhame, 53, and Shaw, 55, both of Atlanta, and Bell, 55, of Decatur, were acquitted of money laundering charges. A fourth defendant, Terrence Keller, was acquitted of all charges at trial. Staff writer Willoughby Mariano contributed to this story.
  8. Economist: The name of the relationship on the currencies will not affect the strength of the dinar and this is important Economie Last updated 11:26 - 10 October 18 BAGHDAD / Press tomorrow: confirmed economist Qusai Jabri, on Wednesday, writing that the governor of the central bank on the Keywords name, the new coins will not affect the strength of the dinar and this is important. He said al - Jabri told the Lord's "Tomorrow 's Press", said that "the Governor of the Central Bank of Iraq on the Keywords all the powers where we find that the Iraqi state today , mostly by proxy , and this is not new and practiced his work normally despite some of the difficulties faced and borne by the official acting." He stressed that "we must pay attention to and care about is the strength of the Iraqi dinar, we find that the signature of the Governor of the Central Bank on the banknote does not affect the strength of the dinar or the Iraqi economy, and this thing, as we know is the practice in a number of countries, including the state Iraq in the past and there is signed by his name frank. " He pointed out that "the Iraqi dinar strongly supported today by the currency of the dollar and gold reserves, and that there are many factors exist should be cautious, which is possible to affect the Iraqi economy and we should care about link
  9. Sweet - And Who Doesn’t Absolutely Luv Our Favorite Crazy Santa Muthah’ Trucker Mofo ? Ok, So Maybe Just Pipe It Down There A Bit Botz - I Can See Ur Name Right Now Lurking At The Bottom Of The Thread ... And Also The Fact That Ur Just Totally Beyond Feverishly Chomping At The Bit To Chime In On This ...
  10. LINK Karbouli of the relationship: I will accept to put your picture if the dinar is equal to the dollar 2018/10/10 10:32 Criticized the head of the parliamentary bloc of solution, Mohammed Karbouli, the Iraqi Central Bank, put the name of the governor of the bank agency {Ali Alaq] on the edition of the new currency of the small category. "I would have accepted that your name and signature be embossed with gold; I would accept that you put your picture on the coin if you made the dinar equal to the dollar," Karbouli wrote on his Twitter profile. Referring to the financial policies of the bank's governor during his last five years in office, Karbouli asked: "Who is responsible for the ongoing haemorrhage of the hard currency and selling it by auction, opening up wholesale banks in a way that is disproportionate to Iraq's exhausting economic reality? Consumer goods and the industrial and agricultural development of the country? " "If you can not fix Iraq's economic reality, the Iraqis will not mention your name even if it is carved on the rock." The Central Bank of Iraq announced last Saturday in a surprise move, the printing of large quantities of small groups of the Iraqi currency and the beginning of distribution, and write the name of the governor {agency} Ali Alalak, after improving the type of material used, and make a simple change in the form of these categories. And raised the move of relations by placing his name on the currency in addition to signing a kind of controversy in the Iraqi street, and some called the House of Representatives to remove this addendum. The House of Representatives discussed the issue yesterday, said First Vice-President of the Council Hassan al-Kaabi, "The interventions of the meeting obliged us to attend the Governor of the Central Bank regarding the new currency, will be the date of hosting the governor on Thursday (tomorrow)." However, the director of accounting at the Central Bank Ihsan al-Yasiri said in a press statement that the move was considered normal, considering that many central banks in the world put the name of the governor next to the signature, and only at other times sign, citing it as a "fingerprint of the Iraqi currency." "Iraq received two days ago the first shipment of the category of thousand dinars and distributed to banks and financial institutions in order to put them to market, and this month will receive shipments of 250 and 500 dinars." The Central Bank of Iraq changed the image of the Islamic dinar on the category of a thousand dinars and made it a picture of the Assyrian logo. For his part, the legal expert Gamal al-Asadi, the existence of a legal violation in the name of the governor of the Central Bank, the second edition of the Iraqi currency, and told the {Euphrates News} Monday that the lack of reference to the status of the governor by proxy and write only a conservative in the currency is not original " Law. " For his part, counting the historian Ghazi Ahmed al-Samarrai, step by "the previous did not occur on the date of the modern Iraqi currency since its issuance 87 years ago." While the general manager of the issuance and cabinets in the Central Bank Abdul Karim Hassan reasons to write the name of the governor "to know the citizen who is the governor."
  11. CNN - < < BREAKING BUFFALO BREEDERS NEWS > > ....... Attention ! All Goat Herders Listen Up - U Might Be Next ! LINKS Dhi Qar calls on the government to support buffalo breeders for their great losses 2018/10/11 20:21 The first deputy governor of Dhi Qar, Adel Dakhili, called on the federal government and the Ministry of Finance to reconsider the benefits of loans buffalo breeders in the province. Al-Dakhili said in a statement received by the agency {Euphrates News} a copy of it, that "the size of the benefits imposed on beneficiaries of the loans of breeding buffalo is not commensurate with the size of income if the farmers in the province," calling for "the need to delay the payment date for this year because of the existing drought Hit the province and caused significant losses to farmers." He pointed out that "the water crisis suffered by the province caused the deaths of large numbers of livestock and buffaloes, causing heavy losses." Al-Dakhili called on the federal government to "consider with a paternal eye the suffering of the peasants and take urgent measures to help alleviate the suffering of the farmers in the province."
  12. LINK Launch of the emergency project to support social stability in Iraq 11th October, 2018 The Ministry of Labor and Social Affairs launched an emergency project to support social stability and stability in Iraq. "The great victory achieved by Iraq in the liberation of all the areas controlled by the terrorist organization requires quick action to provide support on the humanitarian aspects of the efforts to restore stability and achieve recovery at the level of the individual and society in those countries," said Labor Minister Mohammed Shiaa al-Sudani. Areas ". He stressed the need to focus on the people of the liberated provinces, especially returnees, by providing cash for work, temporary jobs and other social support for the most vulnerable groups, to restore confidence between the state and the citizen after the provision of security and jobs and economic growth. "The emergency project targets the poor, disadvantaged and displaced people affected by the war on terror," he said. "The time factor presents a challenge to the government in meeting the humanitarian needs of thousands of citizens in the newly liberated areas, Areas are essential and contribute significantly to recovery and rebuilding social cohesion at the national level."
  13. Thursday 11 October 2018 1:54 pm This is the cost of raising the name of the links from the Iraqi currency Baghdad / / ... Revealed the economist, Nabil Mersoumi, on Thursday, the cost of printing the Iraqi currency by a British company, indicating that the banknotes that have been printed and bear the name of the relationship is not clear yet "Since 2003, Iraq has been printing its currency in the UK by Delaro. There is no official data on the cost of printing Iraqi banknotes. However, the overall cost of printing a banknote in Britain is 7 US cents in 2010 and perhaps The cost today is 10 cents "It is not clear how many banknotes printed by the Central Bank of Iraq in Britain, which bears the name and signature of the Governor of the Central Bank on the links, which amounted to about 150 billion dinars, pointing out if we assume that the number of printed papers up to 100 million banknotes, The cost of up to 10 million dollars, which should be paid attention to the Iraqi parliament, which must undertake a careful study showing the total cost of exchange of these securities if he decided to withdraw this currency from circulation link
  14. Adel Abdul Mahdi presents the formation of the Iraqi government on "Sistani" and waiting for his advice Thursday, 11 October 2018 Baghdad - Writings Media reports claimed quoting those who described the political sources familiar with the meeting of the Prime Minister-designate of the Iraqi government, Adel Abdul Mahdi, after midnight on Thursday, specifically the first hours of Friday, 12 October 2018 religious figures with great weight among the Iraqis in Najaf. According to what was leaked, Abdul Mahdi will meet the religious authority, which had given orders not to continue the last government headed by Haider Abadi, which was a major reason to change. As he will meet the religious reference "Ali al-Sistani" and his son Mohammed, along with Moqtada al-Sadr, the leader of the Sadrist movement and alliance others. The meeting is scheduled to discuss Abdul Mahdi's vision of the new government, which is due to expire on November 3. The Prime Minister-designate, who is currently in Najaf, will listen to Sistani's advice to take it, especially the lack of reliance on old faces and the use of competencies link
  15. Mohamed Halabousi requires the deputies to leave the mobile and the commitment to meetings .. And mocking his predecessors The political scene Thursday, October 11, 2018 at 15:39 pm Baghdad / Sky Press The Speaker of the Parliament Mohamed Halboussi, on Thursday, his interest in the presence of deputies in parliamentary sessions and prevent them from going to the cafeteria or use the mobile and leave the session, saying, "It will not pass as it went in previous sessions." Al-Halbusi's statement came in response to the comment of one of the Iraqi sports commentators on a publication in Halboussi's account on Twitter about "the frequent exit of the cafeteria and the use of mobile phones and leaving the session and the presence of deputies from previous sessions without interventions or participation." "This is going to be an eye-opener and will not go through as it did in previous sessions," the speaker wrote. It should be noted that the number of deputies is 329 deputies in the House of Representatives, but the attendance rate ranges in the range of 200 in most cases and emerged complaints and criticisms in the recent period of the phenomenon of the cafeteria alternative to the dome of parliament and the use of sitting in a way to break the quorum or avoid participation in meetings link
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