The completion of the second report on the dealings of transparency in oil revenue

The time on Saturday, November 24 2 / November 2012 10:37

Baghdad / Orr News

Initiative announced the Extractive Industries Transparency for the completion of the preparation of the second report of the Government transparency, saying it would be provided by the Organization of transparency in 22 of the state next December.

A media adviser to the initiative Adnan Bahia "International Transparency Initiative will provide a formal report to TI projects Alastforeigh in 22 of the next December."

He explained that the "initiative is working to promote transparency in oil transactions and extractive projects and clarify the financial and administrative transactions in the report to be submitted to the organization in order to obtain permanent membership of Iraq."

Iraq completed last June his first report on transparency in oil transactions for the year 2009. It takes American Observatory proceeds on the Iraqi government not to publish the final decades of the oil licensing rounds unlike the Kurdistan Regional Government published the final decades of all contracts involved with international companies.

The Iraqi government confirmed that it does not have any obstacle standing in front of the publication of the final contracts for the oil licensing rounds. The Ministry of oil it would start preparations fifth licensing round after the completion of the fourth round of licensing file. Oil accounts for 94% of the proceeds of Iraq, which has the third largest reserves in the world is estimated at 115 billion barrels, after Saudi Arabia.


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