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First payment of money received from international oil companies

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First payment of money received from international oil companies

Post  Shilo on Thu Nov 04, 2010 9:15 am

First payment of money received from international oil companies
Thursday, November 4th 2010

Basra, Nov.4 (AKnews) – Basra’s governor said that the governorate received its first wave payment from the international oil Companies.

The first wave included a receiving of 163 billion Dinars, out of the 800 billion dinars in total.

Shiltag Abood told AKnews, “The money received will be invested in different projects such as, water, sewage services, and energy supplies.”


“Basra is the only province that has received the payment, and most of the money will be devoted for electricity projects.” Said Abood

Ahmed al Silati, vise president of Basra’s Council, told AKnews “despite the investing of the money allocation received from the international oil companies, the electricity issues will still exist.”


Iraqi parliament has approved the allocation of $1 to each Iraqi province, for each barrel of oil produced, each refined barrel, and for each 150 Cubic Meters of Natural Gas.

Basra (550 km South of Baghdad) is one of the richest Iraqi provinces in oil. Its geographical location is unique, where it shares commercial ports with Iran and Kuwait.

http://www.aknews.com/en/aknews/2/193221/
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