however, continued oil price shocks, especially what happened in 2008 in mid-2014 has committed a lot of public sector workers to go about addressing these emergency situations by Selena,
which licenses that helped stop declining crude oil production and increased production rates, She has many visualization track that way it's Ministry in developing oil and gas fields and exploration. But falling prices since mid-2014 and yet has some drawbacks in those decades and persistent attempts to modify some of its items,
and also led some companies to withdraw mode and scaled some of the work in Iraq, the Ministry did not give convincing reasons for such withdrawals. It was supposed that the Government and the House of representatives and the Federal Ministry of oil and Ministry of petroleum in the region put sound to work in the private sector through:
1. Uniform law for oil and gas
2. National oil company recomposing unite extractive companies activity.
3. Writing a Federal Federal Council for oil and gas to put standard oil policy
4. Review the structure of the Ministry of oil and the methods of work
5. The distribution of oil resources (note that reported the approval of representatives of the law of distribution of financial resources during the last days)
Unfortunately, due to political disputes over continuing security problems, the Government has been unable to House not to implement any of the grounds mentioned above.
Rotate the oil Ministry since 2003, yet several of them tried to go about tackling some of the problems afflicting the sector, but this orientations confronted with objections involving a large section of oil experts all unilaterally, and missed the truth and become part of the community life chimed misses to advisory organizations that are neutral to give correct opinions both new tracks or correct wrong paths, leading to partisan public sector and put the correct path for its development. Very noticeable after fair 2014 so far:
1. The oil Ministry could not devise a plan to develop the remaining fields or expand in exploration, some even pays off not to go to develop new fields and keep what was given during the four licenses and floundering oil Ministry in implementing an important strategic decisions.
2. Not having a plan to explore whether different Iraq areas or deep reservoirs.
3. Despite the continuing development of new refineries in investment, but the investment law in refineries failed to attract investors despite multiple amendments to the law were not at that level, and we didn't find any explanations from the Ministry for the lack of success of the law, or they went to build joint refineries in oil-consuming countries like Saudi Arabia, Kuwait and Venezuela.
4. Significant slowdown in processing natural gas associated with the production of crude oil or gas fields development.
5. Erosion of the economic and legal and technical staff in the private sector both in the Ministry or operational companies.
6. Politicized sector and political and sectarian disputes over racism and their impact on the sector.
7. Tender manner demonstrated in the oil sector activity was not successful in an integrated manner, and that the method of direct talks and reach the best contracts and approval by the House is the best way to reach the best results.
There are those who try to believe that contracts that were not profitable for both parties will be successful contracts, each party will try to complicate and escalate problems to gain at the expense of the other. Licensing contracts demonstrated having some bug where when the oil Ministry did not specify the field's production ceilings,
so I went to amplify the expected productivity and ceilings give different numbers of what you expect from cost productive, not taken into consideration the prospect of falling oil prices,
and therefore the Ministry was forced to go to modify the contracts and keep its request to other amendments, which led to the withdrawal of some oil companies and some sizing of work in Iraq, service contracts and go to compare it with other oil States participation contracts.
8. Iraq is not exploited for political and economic conditions both for oil producing countries, consumer countries, to get the best deals.
loop says(): 9. Political tension between the region and the Central Government which caused a partisan in the private sector, both in developing fields in the northern region of Iraq outside the territory and fluctuation in export quantities from the North.
10. Mixing oil policy in the oil industry
11. Administrative and financial corruption
12. Trap lapses and failures and amplify errors
13. Focus on resolving security problems and leave solutions to economic problems for later.
Major factors affecting the growth of this sector or paralysis:
1. The political factor
2. Economic factor
4. The social worker
When addressing the problems of the sector must study these factors combined, it is with great regret that all our studies for this sector to address one or two problems and neglect other factors making our studies always incomplete or non-executable
For example, some deemed not to expand into other fields development and maintain what has been planning to develop, or slowdown in exploration in various regions of Iraq, such a view does not take into account economic and technical workers only and does not take into consideration that the oil sector is the only sector that believes different segments of business graduates of art and humanity rather than employment in sectors paralyzed and convincing unemployment created.
The political factor, the evolution of the sector means putting large reserves of Iraq and rising production and increase exports and a manageable backup productivity as an important factor in the strategies of oil consuming countries. And when he puts Iraq oil field development and 12 cost national companies to develop 10 fields by itself, or with the participation of oil service companies, try going to invest, how can you compare that with Iran which put 50 oil and gas fields to foreign and domestic investment and acknowledged the negative contracts failed?
And developed new and encouraging investment contracts for foreign companies with the approval of the Iranian Government and the Iranian Parliament, while avoiding Iraqi oil Ministry from going to the House because of political and sectarian and racist llmanavat that characterize the decisions of the House of representatives.
Then we can't find corrupt our ideas and energy economists about the correct path for the economy in Iraq, and many of them focus on the negative aspects instead of proposing appropriate solutions and even if you find a useful strategy dimensions good studies, we find that there are taken into consideration, whether by the Government or Parliament.
loop says():As the oil and economic conferences by foreign companies prepared for these conferences focus, with great regret, to try to bring Iraqi officials with advanced centers with foreign companies that purport to work in Iraq, then glided up to these conferences in recent years not to take into consideration what goes where.
Iraqi organizations that focus their attention on the economy and oil cannot continue its work for lack of funding, which largely avoids the foreign companies ' contribution in funding and support thus failed in its activities and conferences to a minimum.
I admit that I write this to defend recent oil Ministry directives, whether this orientations by the current oil Minister without harmony with Ministry staff, this trend has been without the support of the Council of Ministers or the House Energy Committee.
Either dragging and pending completion of Iraq's remaining land and liberation that we tie all the political and economic approaches and focus on it, and then the Government forcing oil Ministry adjusted its orientation, that would reduce the States and companies that aim to invest in Iraq – and who would be the biggest loser?
We must support the Ministry of oil, especially in this critical period as not adhering to the production ceiling, at least for two or three years, because during the past 30 years did not have the production and export of oil, even within the ceiling of production that has been allocated to Iraq in the 1980s. We must support the Ministry in its orientation to complete the new infrastructure and repair oil facilities and infrastructure devastated by terrorism.
You must go to invest in small and medium-sized fields in different locations in Iraq and lack of focus on developing great fields only, and discuss with the small oil companies as big companies prefer giant fields and fields and contracts and franchising and don't prefer any other type of contract.
I echo in the end Chinese proverb:
"Who sees his house burning is not sitting and writing a book on logic"
(*) Iraqi oil expert
Copyright network of economists. Allow republish provided indicate the source. 19/11/2016
Elane says():(a new announcement on CBI)
Elane says():Gold bullion coins, which will be selling under the prices on Tuesday, 22/11/2016
20/11/2016 Inspect the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail Keywords Bank (via Iraq), accompanied by Director General of the Department of Banking, Mr. Ehsan Shomran on Wednesday 11/16/2016
loop says():In the presence of Professor Ihsan Shomran and Mr. John Sullivan, the US Treasury representative in Iraq,
Economy News .... Qualification certificates for the training of anti-money laundering ..
It ended 19 trainees from various private banks course in the fight against money laundering and the financing of terrorism and organized by the Iraqi private banks in cooperation with the Association of Iraqna for Training and Development and lasted five days ..
The association has set up a closing ceremony attended by Director General of the banking and credit of the Central Bank of Iraq Ihsan Shomran Yasiri and a representative of the US Treasury, John Sullivan and Sebastian, general manager of compliance at the CBI ..
He gave the word Yasiri trainees in which he referred to the great efforts in the implementation of this session, which measure up to the level of importance and for the central bank need to prepare the cadres of specialized money laundering work to achieve the required precautions from slipping in the maze of this phenomenon.
He called on the participants to be in that level of responsibility to be the core of the training and development of competencies and bank staffs and create a base of specialists including money laundering rise to the level and interest of the developed countries of the world Guy combat. Also called on banks to be concerned with the selection of personnel and compliance events and money laundering.
While expressing the US Treasury representative in Iraq, John Sullivan expressed his thanks and admiration for the efforts made by the Association and banks in setting up this session, noting that this certificate is one of the most prestigious certifications in the world and is gaining importance in the holders to maintain their banks from slipping in the phenomenon of money laundering.
He hinted that the Association is going mistake successful in strengthening the banks fortify the phenomenon of money laundering and so Successful Bastaadadadtha in organizing the Forum compliance and anti-money laundering and terrorist financing, which will be held soon, which is very important at this stage to promote tendencies Central Bank in this regard.
Then distributed certificates qualifying and discretion among graduates by the guests. It should be noted that awaits them graduates pass the most important test for certification specializing in the fight against money laundering and terrorism financing.