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An Critical View of Oil-Licensing Tours | ||
| Muthanna Journal of Administrative and Economic Sciences | ||
| Article 1, Volume 7, Issue 1, 2017, Pages 125-144 | ||
| Author | ||
| Heider Hussein Authafa | ||
| Abstract | ||
| The urgent need for investment in the oil sector was figured after 2003 because of the low daily production rates, as it did not exceed, at best, 2.5 million barrels per day. In addition, it is the only sector that flows money into the budget which represents the backbone and lifeblood of the economic life in Iraq. The oil revenues which are represented by the produced quantity and the price, where the latter is an external variable component that cannot be controlled. Despite the presence of almost a consensus among producers and consumers of oil that oil prices are not suitable for both parties. This made it as a restriction on the nature of the contracts of licensing tours that are done to increase the rates of production. This shed light on the need to highlight the most important results achieved as a result of those tours. | ||
| Keywords | ||
| The urgent need for investment in the oil sector was figured after; as it did not exceed; at best; million barrels per day; in addition; it is the only sector that flows money into the budget which represents the backbone and lifeblood of the economic life in Iraq | ||
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