(Iraqi) Oil syndicates union warns foreign companies against signing investment licenses

[sabra]

Source: Voice of Iraq

BASRA / Aswat al-Iraq: The oil syndicates union warned foreign companies on Thursday which obtained investment licenses against signing them, considering these licenses as illegal, according to the union’s chairman.

“These licensees are illegal because the Parliament has not yet approved the oil and gas law, as it touches upon Iraqis’ sovereignty and makes the foreign oil companies control the Iraqi oil through long-run contracts and deprives the government from controlling the most important economic sector in Iraq,” the chairman told Aswat al-Iraq news agency.

“The first round of licenses are considered as a real catastrophe as they includes the huge and strategic oilfields which are the core of the Iraqi economy,” he noted.

MP from the parliament’s oil and gas committee, Jaber Khaliefa, had underlined on Monday (June 22) that the contracts the Oil Ministry will sign with foreign and central Iraq by the end of the month are unconstitutional, urging to approve the oil and gas law before these contracts are signed.

Read more: http://en.aswataliraq.info/?p=115168

[scarletwoman]

1. Good, I hope they hold firm.The whole Iraq invasion was nothing but a big smash & grab for the oil.

[Solly Mack]

2. K&R

[Soylent Brice]

3. kick