Iraq is looking with Exxon Mobil possibility of re-drafting of the oil its agreements to secure the financial needs

by **Ponee** Thu Mar 05, 2015 1:48 pm

Announced Exxon Mobil (Exxon Mobil) US, on Thursday, they were looking with the Iraqi government to reformulate the oil agreements, while confirming that it may help Iraq to meet the financial needs in the near term.

He said the company's CEO, Rex Tillerson, during a press conference held today in New York and I followed (range Press), "The company is discussing with the Iraqi government is the possibility of re-drafting of the oil agreements signed with international companies," noting that "the Iraqi side asked the company to conduct those talks. "

Tillerson said, that "it will help Iraq to meet the financial needs in the near term," adding, "In all cases, the Asthakaqtna ongoing."

Promised Executive Director of Exxon Mobil, that any "change to the agreements would be in favor of the company which is the investor's President for the rehabilitation of the West Qurna oil field giant."

The Finance Minister, Hoshyar Zebari, said in (the third of March, the current 2015), during an interview with Reuters, followed up (range Press), that the ministry is considering, among other options to cope with the financial crisis, the possibility of resorting to pre-sell oil to obtain funds If the Council of Ministers refused to issue loan bonds, which extends for a period of ten years.

It is noteworthy that Exxon Mobil is one of the major international oil companies, and invest in the giant West Qurna field in southern Iraq, has entered into disagreements with Baghdad after announcing the signing of contracts to explore in six patches of oil in Iraqi Kurdistan.

http://goo.gl/kySJCG

by **Ponee** Thu Mar 05, 2015 1:49 pm

Iraq looking with banks issuing bonds worth $ 6 billion

Finance Minister Hoshyar Zebari said Iraq looking with Deutsche Bank and Citibank version potential for bonds worth about six billion dollars in its efforts to cover the huge projected budget deficit this year.

retreated government revenues with falling oil prices, while waging the Iraq expensive military campaign against organizing Daash terrorist, which resulted in a potential deficit is estimated at 25 trillion dinars.

To finance the deficit, Zebari said that the Finance Ministry is considering measures including bond issuance and borrowing from state banks and the conversion of some of the Iraqi banking assets in the Central Bank to bonds.

Perhaps also considering raising funds through Sales of oil futures if the Council of Ministers rejected plans to issue bonds for ten years.Officials say the council of ministers headed by Haidar al-Abbadi sees the proposed interest rate at nine percent too high.

and push the sharp drop in oil prices Zebari to review the budget of the year 2015 several times to ensure each of them a reduction in the expected revenue from crude exports. I assumed the final version of an oil price of $ 56 a barrel and exports of 3.3 million barrels per day.

nor Iraq's oil exports still since the beginning of the year without the 2.6 million barrels per day due to reasons such as bad weather at the southern export terminals and major exports from the province of Kurdistan, but Zebari said that the quantities increasing.

The Minister of Finance, told Reuters in his office in Baghdad, "I think people now realize that this budget realistic."

He said the proposal to transfer 50 percent of the state banks assets in the Central Bank to bonds Seder about five billion dollars and will use Iraq also special for SDR $ 1.8 billion through the International Monetary Fund. PUKmedia for Reuters

http://pukmedia.com/AR_Direje.aspx?Jimare=59930#

Iraq is looking with Exxon Mobil possibility of re-drafting of the oil its agreements to secure the financial needs

Iraq is looking with Exxon Mobil possibility of re-drafting of the oil its agreements to secure the financial needs

Re: Iraq is looking with Exxon Mobil possibility of re-drafting of the oil its agreements to secure the financial needs

Iraq looking with banks issuing bonds worth $ 6 billion