5 dollars of the price of a barrel of oil of the province allocated to Basra within 2016 budget

[SocalDinar]

http://english.shafaaq.com/business/17027-5-dollars-of-the-price-of-a-barrel-of-oil-of-the-province-allocated-to-basra-within-2016-budget.html

• Wednesday, 16 December 2015 09:57

 

Shafaq News / MP of Basra province in al-Mwaten bloc , Hassan al-Khalati announced on Wednesday the allocation of five dollars a barrel of oil for Basra province in 2016 budget.

It is scheduled for the Iraqi Parliament to vote during these days on the budget of next year with the continuing decline in oil revenues due to the fall in prices and oversupply global markets.

Khalati said in a statement received by Shafaq News, that the allocation of five dollars from every barrel of oil exported by Basra province for the same province will served it a lot in the development of reality, pointing out that this will enhance the advancement of the province and carry out serve projects for the citizen significantly.

He said that will 50% of the imports of border crossings in Basra province will be allocated for the same province

Edited December 16, 2015 by SocalDinar

[djgabrielie1]

Interesting that they would Budget 5 dollars per bbl. OPEC is the group that sets the actual price. Doesn't look like Iraq is playing by the rules.

[jeepguy]

isn`t this  the  %   rates  they asre needing  to   get  the hydro carbon law  to pass ?   ...     was it  the Kurdistan region to get 17%   and  other  were in the  7 %  or so range !   if my memory  is right  the  5 .oo  per barrel is close  too average  price in the %  of schemes  ... 

[tigergorzow]

SocalDinar Thanks, I do believe Basra Province was requesting $5 from GOI so let's hope all was approved and noted as line item in the 2016 budget.

Also, The Kurds are definitely happy about their 17% share of the budget thanks to PM Abadi & Parliament. I do believe they also were in agreement fully with HCA / HCL and this is why it passed with majority vote today.

Remember the Senior Delegation from KRG a few days ago met with PM Abadi, POR, Parliament, etc. Let's all agree and move forward as one unified Iraq.

Keeping the faith!!

GO RV!!

[blueskyline]

Thank You So cal . Fantastic Day is being had !

[TennesseeCherokee]

I am proud for the people in Basra.

They are going to need every dollar they get to rebuild what the damned terrorists have destroyed.

[TQueezy]

I think they're saying that $5 from the sale of every single barrel of oil originating from that province specifically will go towards building up their local economy in the province,

Eg: let's say Basra sells 50,000 barrels per day at an average price of $45 per barrel, then $5 per barrel goes towards provincial development for a total of $2.25 million per day and $250,000 per day going towards the province directly.

Thats how I read this article.

[tigergorzow]

TQueezy, Totally agree with your assessment. Basra Governor & Reps met with PM Abadi and requested $5 per barrel and the GOI & Parliament approved & voted it in the 2016 Budget.

Edited December 16, 2015 by tigergorzow

[sandfly]

THANKS JEEP

[yota691]

 

 

Iraqi oil fields

Citizen announces the allocation of five dollars a barrel from the Basra oil to maintain balance in 2016

 

Author: HH, MJ 
Editor: HH, NS 2015/12/16 13:10 Number of Views: 1155 

 

 

Long-Presse / Baghdad

Announced the Supreme Council of the citizen's block, on Wednesday, on the allocation of five dollars a barrel from the Basra oil to keep within the financial budget for the next year in 2016, and while confirming the allocation of 50% of the imports of the border ports of Basra in the same province.

The MP said the mass of the citizens of the province of Basra, Hassan Khalati in a statement received (range Press), a copy of it, that "five dollars allocated from each barrel of oil issued by the province of Basra to maintain itself within the financial budget for next year, will serve to maintain a lot in the development of reality," noting "This matter will enhance the advancement of the province and carry out projects serve the visual citizen significantly."

He Khalati, it "will be allocated 50% of the imports of border crossings in the province of Basra itself to maintain."

The Iraqi Council of Representatives began on Wednesday to vote on the paragraphs of the financial budget for the next year in 2016, during its 45th legislative term of the first second legislative year.

The MP for the National Alliance for Basra province, Faleh al-Khazali, called on Saturday the (7 November 2015), deputy governors to resign en masse in protest at the failure to grant the province maturity in the 2016 budget, and as pointed out that the central government has not fulfilled its obligations to pay dues petro dollars, Council of Ministers called for the convening of a meeting in Basra to discuss the environmental and service reality.

The Committee on the economy parliamentary and investment, announced on Monday the (19 October 2015), that the financial budget for next year 2016, amounted to 106 trillion Iraqi dinars and a deficit of 23 trillion dinars, and as pointed out that most of them devoted to the security sector, revealed the existence of a large austerity this budget.

The Iraqi Council of Ministers approved, on Sunday (18 October 2015), the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars.  

 

 

 

 

 

[yota691]

Advocacy: entitlements petro-dollar bloc will remain our owed by the government of the oil-producing provinces 12/17/2015 13:45  

BAGHDAD / National Iraqi News Agency / nina / confirmed parliamentary Dawa Party bloc that benefits petro-dollar project will still have owed ​​by the government to the provinces producing oil. The head of the bloc MP Khalaf Abdul Samad, told the National Iraqi News Agency / nina /: "The draft budget law for 2016 ensure Mkhafattan of the parliamentary finance committee and the government. "He said:" The 108 MPs have signed a request to reduce the share of Kurdistan of 17% to 13% of the budget, but the parliamentary Finance Committee did not ensure that proposed in the draft final report of the budget. "He continued:" The government Budget made ​​contrary to the law 21, which provided for the granting of $ 5 to the provinces producing oil, but according to the results of the vote were restored five dollars to the government. "He added:" There is an economic problem because the government would be unable to repay those amounts from the petro-dollar project to the provinces producing oil, we know not to the existence of money and that there is a liquidity crisis, but the money we owed ​​the state and the government remain of those provinces. "And:" The Basra have on the government of $ 11 trillion dinars, after approving the budget not only get less than a trillion dinars, which is funded Iraqi state budget more than 95% of the total revenue. "The House of Representatives approved on Wednesday a draft law on the federal budget for the next year in 2016, a deficit of more than 24 trillion dinars ./anthy5