Iraqi Kurdistan is allocated $ 100 million for oil companies

Iraqi Kurdistan is allocated $ 100 million for oil companies

Erbil (Reuters) – Iraq’s Kurdistan region said on Thursday he expected the start of the regular payment of dues of Petroleum Exporting companies in the first half of September which led to a rise in shares of those companies as much as 17 percent in early trading. The Ministry of Natural Resources and the province said in a statement that between 75 million and $ 100 million of direct crude oil sales revenues will be allocated as payments under the account of the companies. And it increased the region independent sales since mid-June, while reducing the allocations of the Iraqi Oil Marketing Company (SOMO) in an escalation of a dispute over export rights and the balance of payments caused the non-payment of dues companies.

The statement said that “regular payments will allow exporting companies to cover ongoing expenses and planning for more investment in oil fields, thus enhancing the production.” The statement added that “with the increase in oil exports at the beginning of 2016 expects the Kurdistan Regional Government to provide additional revenues for international oil companies to be able to start getting past entitlements under production sharing contracts with them.”

And trying to oil producers around the world cope with the financial fallout from the drop in oil prices from a peak reached in June last year. In Iraqi Kurdistan it matters worse because of the dispute with Baghdad, which has reduced the amount of money last year transformation of the territory, which made ​​the region unable to pay employees’ salaries as well as benefits oil companies. Genel shares began trading, up 17 percent, while Gulf Keystone Petroleum has increased seven percent share climbed Norwegian DNO 10 percent after the statement.

Said John Ferrier, chief executive of Gulf Keystone that it is very optimistic after Iraq’s Kurdistan currently.“We need regular payments cycle to ensure Astdamtna and business expansion in the global Shaikhan field development. Today’s news represents a promising beginning of that process.”

She Gulf Keystone Petroleum yesterday that the Kurdistan Regional Government owes it the amount of $ 283 million for oil sales and other costs. June was the first month witnessed large independent sales since last December when the region reached an agreement with Baghdad to contribute to the amount of 550 thousand barrels per day in Iraq’s exports in 2015 compared to resume budget payments.

Were exported 516 thousand and 745 barrels per day on average from the region in July through a pipeline to the Turkish port of Ceyhan on the Mediterranean Sea did not get Sumo only on 71 and 17 thousand barrels per day from them.

Abadi Office: Government reforms can not be undone but its application may take time

Prime Minister Haider al-Abadi
Author: AHF, BS, ZJ
Editor: AHF, BS
08/27/2015 22:18
Number of Views: 768

Long-Presse / Baghdad

A spokesman for the Information Office of the Prime Minister, on Thursday, said government reforms can not be undone but its application may take time because of the correspondence between the concerned authorities, it confirmed no declaration of any political opposition to block the reforms.

The local media spoke of the President of the Republic Fuad Masum’s failure to ratify the decision to sack three of his deputies, as pointed out that infallible face to reduce the staff offices of the Vice-Presidents by 50%

A spokesman for the Office Saad al-Hadithi in an interview with the (long-Presse), “The government reforms have been approved by the Parliament and in the presence of all the political blocs, and everyone before the reforms package and the sound of it, but the remaining procedural aspects which may take time.”

Sabri said that “the application of these particular in relation to the offices of the Vice-President of the Republic, Fbtabieh case reforms this matter is between the presidency and the presidency of the parliament,” noting that “the parliament speaker said a while ago that waiting for a book from the presidency of the republic, including the request for cancellation of these positions.”

The newborn “not an official position of the offerer and any party to reject the application of the reforms, we deal with the declared positions”, as it would take a legislative trend after the parliament vote for it, and there is no legal obstacle to the path of implementation. “

A spokesman for the Information Office of the Prime Minister and added that “it will take time during the proceedings and correspondence that occurs between the concerned authorities do, but the result can not be undone, and it will be binding on all parties.”

The Prime Minister, Haider al-Abadi, announced, (the 17th of August the current 2015), reducing the number of cabinet members from 33 to 22 only, through the restructuring of some ministries and merge them with another.

Article (78) of the Constitution under which the Prime Minister took a bold decision that “the prime minister is the direct executive responsible for public policy of the state, the general commander of the armed forces, the cabinet management, and presides over its meetings, and has the right to dismiss ministers, with the consent of the House of Representatives .

The prime minister Haider al-Abadi has pledged in the 11th of August to continue the current reforms and addressed the Iraqi people by saying, “I will continue the reforms even if it cost my life.”

It is noteworthy that in the Parliament (the 11th of August 2015 the current) approved, by an absolute majority, the first package of reforms undertaken by Prime Minister Haider al-Abadi started, and included five axes, and reinforced by other reforms included 24 points.

Russian helicopters reach Iraq within days


06:03: 08/27/2015
Khandan – media advisor to the Iraqi Ministry of Defense Mohammed Naseer Nouri, on Thursday revealed that four Russian helicopters (hunter night) will reach Iraq soon. 
He guessed Muhammad, in comments to the Agency (Sputnik) Russian, the arrival of a new batch of Russian attack helicopters (Mi -35 M) and (-28 The Mai) to Iraq, during the next few days. 
According to the program of supplying Iraq with combat helicopters, it was handed over Baghdad 4 attack helicopters (Mi -35 M) and the other four of the model (The Mi -28) full combat readiness with night vision equipment. 
It is worth mentioning that Baghdad expects, until 2016, to get 43 attack helicopter, including 24 helicopters (Mi -35 M) and 19 of the model (The Mi -28), it is scheduled to enter these helicopters in fighting extremist groups on the territory Iraqi. 
And it reached Iraq yet 16 helicopters (Mi -35 M) and 11 of the model (The Mi -28), according to the contracts in the field of military-technical cooperation, which was concluded in 2012, worth in excess of $ 4.2 billion.

Twitter- Lukman Faily

Lukman Faily retweeted Reidar Visser

Landmark achievement for Iraqi Parliament. Transparency and regulation of funding for political parties is essential

Lukman Faily added,

Parliamentary Finance: Iraq can not be under international Commandments

08/26/2015 16:54

Tomorrow Press /

Baghdad confirmed the decision of the Finance Committee parliamentary Ahmed flesh, Wednesday, that Iraq can not be under international Commandments, because he has international reserves.

He said his flesh in a statement for “tomorrow Press,” that “Iraq has a reserve of the dollar and gold, which ranks 36
of the world’s reserves and fifth of the Arab states of gold,”

noting that “Iraq has $ 60 billion in the Central Bank and this amount Iraq prevents that It is under international Commandments. “

He noted that “reduce expenses in all institutions and increase oil exports, in addition to activating the other revenues such as taxes and customs fees are important steps to overcome the difficult phase that has plagued Iraq.”

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