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Tishwash: The cost of producing a barrel of oil in some Iraqi fields is $ 17!

A member of the Energy Committee in the House of Representatives, Jamal Al-Muhammadawi, called for canceling the licensing rounds contracts and finding another mechanism to replace them.

Al-Muhammadawi said, “We demanded the cancellation of the licensing contracts rounds, and the creation of another mechanism to manage the oil fields that would achieve the Iraqi connection.”

He explained, “Especially since after the drop in point prices due to the Corona pandemic, shouts have arisen regarding the economic viability of these contracts, which incurred great losses for the state’s treasury, compared to production.”

He pointed out that “the cost of oil production in some fields may sometimes reach $ 16 to $ 17, and this is a large amount compared to the sums of money sold since the outbreak of the pandemic until now   link

Tishwash:  The Financial Committee clarifies again about the price of the dollar, Kurdistan’s share of the budget, and its deficit

The Parliamentary Finance Committee clarified, on Monday, the files of the dollar price and Kurdistan’s share in the current year’s budget, and its deficit.

“The committee completed the discussion and amendment of the draft federal budget law for 2021 about a month ago,” said Majida Al-Tamimi, a member of the committee, according to the official agency, pointing out that “the reason for the delay in settling the budget is due to the disagreement over Article 11 of the law, which concerns the Kurdistan region.”

She added that “there is no change in the sale price of oil within the budget because the additional revenues that come from increasing the price of a barrel of oil will return to the budget,” indicating that “the Finance Committee set the selling price at $ 45 after it was $ 42 per barrel.”

She pointed out that “the deficit in the budget law amounts to 28.6 trillion dinars,” pointing out that “there are those who link between the Federal Court Law and the Budget Law, but indirectly, which is why those existing disputes over the Federal Supreme Court Law cast a shadow over the passage of the budget.”  link


Tishwash:  Financial Committee: Kurdistan Region will not deliver 460,000 barrels of oil to Baghdad

The reporter of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, revealed that the Kurdistan Regional Government delegation rejected a proposal made by Shiite parties to deliver 460 thousand barrels of Kurdistan Region oil to Baghdad daily.

Al-Saffar said in a statement reported by Rudaw network and seen by Al-Iqtisad News, “The Kurdistan Region delegation, headed by Deputy Prime Minister Qubad Talabani, who arrived in Baghdad last night (March 16, 2021), adheres to the government text regarding the share of the incoming Kurdistan Region. In the draft Iraqi federal budget law for the year 2021. ”

The aforementioned text stipulates that the Kurdistan Region will deliver 250 thousand barrels of oil per day at the price of the SOMO company, in addition to half of the proceeds of the border ports and other federal revenues of the Kurdistan Region to the Iraqi government, and the financial dues between the federal government and the Kurdistan Region are liquidated for the period from 2004 to 2020, so that the Iraqi federal government Spending the Kurdistan Region’s share of the budget.

A rapporteur of the Parliamentary Finance Committee confirmed that the Kurdistan Regional Government delegation rejects the proposal of Shiite parties to the Kurdistan Region to deliver 460 thousand barrels of oil daily to Baghdad, and adhere to the text contained in the draft federal budget law for the year 2021.

Ahmed Al-Saffar said that the Finance Committee in the Iraqi Council of Representatives will meet today, Wednesday, to discuss issues related to the Iraqi federal budget bill for 2021.   link


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