Estimation of Compensation for Breach of Crude Oil Liquidation Contract
Keywords:
-Abstract
The priorities of the government's oil policy in Iraq at the current stage are heading to the reconstruction and rehabilitation of oil fields and facilities, the establishment of new refineries, the exploitation of natural gas in the widest economic sectors, the encouragement of the private and local sector, and emphasizing the importance of legislating a clear and comprehensive oil law that takes into account Iraq's hydrocarbon potential and the state of destruction and destruction caused to this sector. Iraq is one of the countries that have shown openness to investment, especially after the legislation of the Private Investment Law in the Refinery of Crude Oil No. 64 of 2007. The amendment, which in turn encouraged to attract investment in the field of crude oil refining by giving the private sector the right to establish, operate, manage and own oil refinery projects and this is through the conclusion of the crude oil liquidation contract, which is characterized by the privacy of being related to the most important resource of the state budget, and this contract is not immune from breach of the implementation of its terms, like other contracts, and we will address in our research this delve into the issue of compensation arising from the breach of this contract and its types and how to estimate the fact that the texts of Private investment law came free of this regulation.
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