Iraq’s Integrity Commission Unveils Financial Irregularities in Basra’s Oil Industry
The Integrity Commission of Iraq has carried out five operations to apprehend instances of financial manipulation, wastage of public funds, and irregularities in various oil companies in Basra. The revelation of these discrepancies reflects the ongoing efforts of the Commission to expose and address corruption within the nation’s oil industry.
Discrepancies Unveiled in Basra Investigation
The Basra Investigation Directorate’s team has unearthed an alarming four billion Iraqi dinar manipulation in 20 disbursement documents. These documents, linked to the Iraqi Oil Tankers Company, were supposed to allocate social benefits for public service projects across the province. Instead, they have become the subject of scrutiny for fraudulent activity.
Financial Missteps at the Basra Oil Company
Furthermore, the Basra Oil Company’s Projects Authority has been implicated in financial negligence. The Authority failed to secure due amounts from an Australian company, causing substantial damage to public funds when the company declared bankruptcy. This misstep has raised questions about the Authority’s financial management capabilities.
Compensatory Payment Issues and Residential Unit Distribution
Issues have also arisen regarding compensatory payments for land use in West Qurna 1 oil field, operated by Basra Oil Company. Non-agricultural lands, as well as fictitious lands, were compensated, shedding light on possible foul play. The South Refinery Company has also been implicated in a violation related to the distribution of residential units. Units were awarded to the general manager and other employees without proper entitlement, with the manager housing his son in a unit despite no affiliation with the company.
Contract Irregularities at the General Company for Distribution of Petroleum Products
Finally, at the General Company for the Distribution of Petroleum Products, contract inconsistencies have been identified with a private transport company. Despite government vehicles being available for transport, the company engaged in this year’s transportation of oil products under ‘license rounds’ with a private firm. This irregularity further underscores the extent of the financial irregularities plaguing Iraq’s oil sector.
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