Iraq Owes Oil Companies $20bn

By John Lee.

The Deputy Minister for gas refineries at the Ministry of Oil, Fayaz Hassan, has told reporters that Iraq owes almost $20 billion (24 trillion Iraqi dinars) to foreign oil companies working in the country.

BasNews quotes him as saying that the Iraqi Oil Ministry has met with the Finance Ministry and Central Bank to raise a $12 billion cheque, and "within a month pass it to the foreign oil companies.

(Source: BasNews)

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