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PetroTem Al-Qasim Norway: Evaluates oil service contracts in Iraq and the impact of oil prices
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PetroTem Al-Qasim Norway: Evaluates oil service contracts in Iraq and the impact of oil prices
PetroTem Al-Qasim Norway: Evaluates oil service contracts in Iraq and the impact of oil prices
03/04/2020. Reasons and justifications for the Ministry of Oil to launch petroleum licensing rounds
There are a set of objective reasons behind the Oil Ministry's decision to launch petroleum licensing rounds, the most important of which are:
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[*]The country’s need to provide large investments used as soon as possible to restore the necessary infrastructure and to revive other vital sectors of the Iraqi economy, in addition to tackling poverty, the effects of injustice and high unemployment rates.
[*]The great debt inherited by Iraq from the previous regime, which amounted to 130 billion dollars. In spite of the great success achieved by Iraq by reducing 80% of its debts to the Paris Club members, the size of the remaining debts, especially those of Kuwait, which were directly deducted from the sales of crude oil, remained a great burden and put pressure on the state budget.
[*]The country's internal need to obtain urgent income to meet all the financial and social pressures mentioned above. Iraq had to escalate oil production, being the main and rapid resource for financial resources.
[*]After the initial and important successes in restoring the production and export capacities that followed the fall of the regime, the leadership of the new Ministry of Oil found during the phase of the Iraqi government 2006-2010 that it was unable to bring about significant increases in oil production, which was at the level of 000 million barrels / day depending on its own capabilities. To open up to international oil companies in what were called licensing rounds
[/list][*]The great debt inherited by Iraq from the previous regime, which amounted to 130 billion dollars. In spite of the great success achieved by Iraq by reducing 80% of its debts to the Paris Club members, the size of the remaining debts, especially those of Kuwait, which were directly deducted from the sales of crude oil, remained a great burden and put pressure on the state budget.
[*]The country's internal need to obtain urgent income to meet all the financial and social pressures mentioned above. Iraq had to escalate oil production, being the main and rapid resource for financial resources.
[*]After the initial and important successes in restoring the production and export capacities that followed the fall of the regime, the leadership of the new Ministry of Oil found during the phase of the Iraqi government 2006-2010 that it was unable to bring about significant increases in oil production, which was at the level of 000 million barrels / day depending on its own capabilities. To open up to international oil companies in what were called licensing rounds
To continue reading, click on the following link to download the study as a PDF
Final Report of Petrutem Al-Qasim 07.06.2017
http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2020/03/%E2%80%8E%E2%81%A8%D8%A7%D9%84%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D8%A7%D9%84%D9%86%D9%87%D8%A7%D9%8A%D9%94%D9%8A-%D9%84%D8%A8%D8%AA%D8%B1%D9%88%D8%AA%D9%8A%D9%85-%D8%A7%D9%84%D9%82%D8%A7%D8%B3%D9%8507.06.2017%E2%81%A9.pdf
http://iraqieconomists.net/ar/2020/03/04/%d8%a8%d8%aa%d8%b1%d9%88%d8%aa%d9%8a%d9%85-%d8%a7%d9%84%d9%82%d8%a7%d8%b3%d9%85-%d8%a7%d9%84%d9%86%d8%b1%d9%88%d9%8a%d8%ac-%d8%aa%d9%82%d9%8a%d9%85-%d8%b9%d9%82%d9%88%d8%af-%d8%a7%d9%84%d8%ae%d8%af/
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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