Iraq News - Local News - Baghdadpost

SOMO mismanagement costs state $14m daily: MP


Parliament's oil and energy committee member Oday Awad affirmed that Iraq's State Organization for Marketing of Oil (SOMO) causes financial losses to the state treasury estimated at $14 million per month due to mismanagement.

Awad said in a press conference that a meeting with SOMO officials discussed evidence indicating a great waste of public money by the company.

The committee's answers were inaccurate and confused, Awad said, considering it an indication of lack of discipline and planning in the highest oil authority in Iraq, which controls 98 percent of the country's oil exports.

Earlier in January, Awad said that there is evidence including sound recordings proving the involvement of Oil Minister Thamir al-Ghadban in the SOMO corruption case.

Awad pointed out that he collected parliamentary signatures to question the minister for the corruption charges. He accused the oil minister of securing the corrupt inside SOMO.

"We have been subjected to pressure and blackmail because of the corruption issues related to the company and we have started to collect signatures to question the oil minister and form a committee to investigate this corruption," Awad stated.


Last Modified: Wednesday، 23 January 2019 01:30 AM