Oil Ministry: Iraq gains international

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Oil Ministry: Iraq gains internationalEditor: Abdalaa

on: Thursday 12/27/2012 01:52 pm

Welcomed the Ministry of Oil Iraq's acceptance of a permanent member of the Organization of the Extractive Industries Transparency International meets the requirements and the requirements of permanent membership in the organization. Said the spokesman of the Ministry of Oil, Assem Jihad said in a statement formally received by the agency (now News) a copy of Iraq's acceptance as a permanent member of the initiative was the result of efforts great efforts and the Oil Ministry to adopt the most accurate standards of transparency in publishing monthly reports regular on exports of oil and imports achieved them and is done through statements and media releases and press the Information Office of the Ministry of broadcast media on an ongoing basis, as well as the establishment of the ministry to disclose the total oil contracts signed with global companies that have been concluded within the licensing rounds petroleum four or other contracts, he said, adding that we can not forget the role of the media to receive information and dissemination honestly and impartially is a distinct role and supported transparency. adding that give Iraq a permanent membership would have a significant impact as the largest oil producing state between the member states of the Organization.

He noted that for the first time are approved initiative to report the first countries to be met standards of the International Initiative and the corresponding exact production figures, export and sale of crude oil as the report did not indicate any significant differences in relation to Palmtabqat between the Ministry of Oil and Oil Marketing Company (SOMO) and extractive companies The purchasing companies, in addition to that did not produce any differences with regard to contracts and licensing rounds. explained spokesman said the ministry is preparing soon to announce the completion of the preparation transparency report second, which is an important step to strengthen the role of Iraq in the economic arena and the political level Aldoluotaba Jihad announced Iraq's acceptance of a member always in the initiative is a historic event where Iraq has become the first countries major oil producers pursuant to the requirements of the initiative as of December 2012. It is worth mentioning that there were efforts also by the Council of the owners of the initiative, which includes in its membership representatives of the ministries of oil, industry and minerals, financial and 8 other members representing civil society organizations and 3 members representing extractive companies national as well as 3 members representing extractive companies and international Omthleen for BSA and the Integrity Commission in the arrival of Iraq to permanent membership of Transparency International. mentions that the oil ministry celebrated in March 5 last issue first report of revenues export of Iraqi crude oil under the initiative of transparency in the extractive industries in Iraq and which was prepared by a company (PwC), which auditing firm known international worked under the supervision of the World Bank and funded it, and this indicates very clearly to the independence of the body that prepared the report and sedate its contents. , And the most important findings of the report is to match the earnings reports provided by the Government with reports of payments made by global firms Iraqi oil purchasers and the 34 Asian, European and American. Through comparison between the total payments disclosed by the companies and revenue approved by the government, amounting to $ 41 billion, it became clear that the difference between them does not exceed $ 700. A difference of less than two dollars per $ 100 million. Which is insignificant when compared with those in the reports of States participating in the membership of the initiative, and at the behest of the Board of stakeholders and communications company (PwC) has provided the oil ministry all the data required for oil export revenues Iraqi in 2009, which included everything that has been exported from the production SOC through the port of Basra and the North Oil Company through the Turkish port of Ceyhan. Included even exported to Jordan despite being very small amounts do not compare with the massive amounts that are exported daily through the southern port and the northern port mentioned.

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