Iraq confirms its commitment to the principles of international transparency

Iraq confirms its commitment to the principles of international transparency

2019-09-17 | 07:43

Deputy Prime Minister for Energy and Minister of Oil and Chairman of the Board of Trustees of the Extractive Industries Transparency Authority on Iraq's full commitment to the optimal investment of national wealth in accordance with the principles and standards of sound management, and the use of revenues earned in support of economic development, as well as the fair distribution of wealth on the Iraqi people of all spectrums and components He stressed the steady position of Iraq from disclosing oil activity and revenues achieved with high transparency.
This came during his presidency of the regular meeting of the Board of Trustees of the Transparency Industries Association (67th session).

Oil Minister Thamer Abbas Al-Ghadhban said in a statement received by Alsumaria News that the ministry is keen to disclose monthly through the media, newspapers and official websites about the export quantities achieved from oil fields, export outlets and financial revenues achieved, in addition to announcing the names of international companies and their nationalities. Which is 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 activities 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.

The minister praised the role of 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.

The Deputy Prime Minister for Energy Affairs and the Minister of Oil continued cooperation between the ministries and institutions concerned with international organizations, and that the cooperation is ideal to achieve the desired results.

According to the statement, during the meeting, the draft annual report of the Extractive Industries Transparency Authority for 2017 was discussed in the presence of the international auditor.


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