Urgent…Iraqi Finance Ministry starts paying dues for foreign oil companies in KR

[k98nights]

Urgent…Iraqi Finance Ministry starts paying dues for foreign oil companies in KR

Tuesday, 02 October 2012 14:38 | | |

Baghdad (AIN) -The Iraqi Deputy Prime Minister for Economic Affairs, Ruz Nouri Shawis, announced that the Iraqi Ministry of Finance "started to pay the financial dues for the foreign oil companies operating in Kurdistan Region."

A statement by Shawis's office mentioned on Tuesday that "The Finance Ministry within the Iraqi Federal Government started to pay the dues of the foreign oil companies working in the KR."

It was announced on last Sept/13 that the Iraqi Federal Government reached an agreement with Kurdistan Regional Government over paying the financial dues of the oil companies in the Region in return for increasing the oil production by KR to 200,000 barrel per day. /End/

http://www.alliraqnews.com/en/index.php?option=com_content&view=article&id=19790:urgentiraqi-finance-ministry-starts-paying-dues-for-foreign-oil-companies-in-kr&catid=37:economy&Itemid=41

[Gooserider67]

Surely Iraq is not going to pay the oil companies with towlet paper.... Unless they have an idea of a date and rate of the change in value of the IQD, but they could pay them in USD but I hope for the rate and date part...

[yota691]

Surely Iraq is not going to pay the oil companies with towlet paper.... Unless they have an idea of a date and rate of the change in value of the IQD, but they could pay them in USD but I hope for the rate and date part...

The Ashti Hawrami said Monday, that the region is expected settlement payments an initial trillion dinars (858 million dollars)

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[rockfl9]

They will be paid in USD.....As they do for everything traded internationally....

Edited October 2, 2012 by rockfl9

[hammer911]

And I am sure it is digital transfer of agreed amount... GO RV!!!~~~

[unirod]

This is a really good question; What currency will the oil companies accept? The Dinar is not traded internationally unless somehow the oil companies are bringing Dinars to the auction floor. Is this possible and we are not priviledged to that information? IMO the oil companies will only accept USD at this point.