Clare: Iraq “Moves to Profit-Sharing” in New Oil Contracts
By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts
Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new bid rounds from the technical service contracts it has awarded so far.
Clare: Finance: The Accounting Department begins working with the electronic issuance verification system (QR)
The Ministry of Finance announced, today, Saturday, that the Accounting Department has started working with the electronic QR system regarding withdrawing amounts.
The ministry said in a statement received by the Iraqi News Agency (INA): “The Accounting Department has started working with the electronic check-in system using (QR code) regarding withdrawing amounts,” noting that “the financing platform is currently limited to answering inquiries from spending units for the financing process in ministries, governorates and entities not affiliated with a ministry.”
It added that “this comes within the framework of the government’s orientation to simplify government procedures, reduce time and effort, in addition to reducing administrative momentum in institutions, and moving away from paper transactions.” LINK
