? How to return the money and the total revenues for the oil
? How to return the money and the total revenues for the oil
  2023-02-12     341 جار بینراوە    

Investigation and Follow-up

On August 25, 2021, we investigated two important issues related to the Oil Case, one of which is how to return the money and the total revenues for the oil. It is one of the unclear and ambiguous processes so far. The second issue is following up those contracts that have been established with private sector companies by KRG's The Ministry of Natural Resources in the frame of providing services in the production process of the oil till its selling. A great number of the contracts are unnecessary and have only been a mean of enriching the political party companies and political party officials. in addition, the contracts have been a source of wasting a lot of enormous wealth and increasing the cost of producing each oil barrel in a way that consistently less than half of the money of selling an oil barrel returns to the Department of the Public Treasury.

Instead of enforcing the law and establishing transparency in the process oil production and its trading, the government relies on Deloitte's financial reports for scrutiny, which the company's reports has no legal base or any accounting value and cannot be the substitution of implementing the laws related to the oil. Furthermore, The company's accounting reports cannot be the replacement of the intense scrutiny of the Financial Supervisory Board since they are not revealing confidential and classified oil files,. on the other hand, Deloitte's is not publishing financial scrutiny reports in a timely manner, Since the beginning of 2021, the status of the oil market returned to to fairly regular as it was prior to the Covid-19 outbreak and the company did not publish any report on Kurdistan's oil, and it is not explicit how the oil was managed and what is its total revenues?

Oil is the public property of the People of Kurdistan. It should be put into service to the public interest and the political party companies should not longer interfere in oil's affairs. The corruption in this significant case should be rooted out. We will continue to resort to legal procedures until we put anend to corruptions in the Kurdistan's oil.

Omar Abdulla Gulpi

Member of the Finance Committee of Kurdistan Parliament

25th, August 2021

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