Oil Minister: We are committed to the principles of international transparency and the distribution of wealth to the people


Release date:: 9/19/17 14:39

Deputy Prime Minister for Energy and Oil Minister Thamir Abbas Ghadhban, on Tuesday, Iraq’s full commitment to the optimal investment of national wealth in accordance with the principles and standards of sound management.

Oil Minister Thamer Abbas al-Ghadhban said during his presidency of the regular meeting of the Board of Trustees of Transparency Industries, 67th session, in a statement received by the Euphrates News Agency, that the ministry is keen to disclose monthly through the media, newspapers and official websites Oil and export outlets and financial revenues achieved, as well as the announcement of the names of international companies and nationalities, which are contracted in the marketing of crude oil, in addition to disclosing the rates of production and consumption and the average price of a barrel through the official website of the ministry.

Ghadhban added that “the government and the ministry support all events and activities aimed at enhancing the confidence of the international community and international organizations concerned with the ministry and government institutions responsible for the management of oil activity in the country.”

Ghadhban praised the role of the oil formations in cooperation, praising the role of civil society organizations in following up the reports and activities related to the oil sector in order to achieve our goals in reaching the most accurate international standards in this context.

He called for “continued cooperation between the ministries and institutions concerned with international organizations, and that cooperation is ideal to achieve the desired results,” stressing “the fair distribution of wealth to the Iraqi people of all spectrums and components.”

“During the meeting, the draft annual report of the EIT for 2017 was discussed in the presence of the international auditor,” the statement said.

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