Iraq Oil Tanker Leasing Contracts Stir Debate in Iraq

The Iraqi Oil Tanker Company's tanker leasing contracts have returned to public discussion following assessments of the company's procurement procedures. Industry experts said any irregularities in the contracts or cost calculations would feed directly into overall revenues, and called for the findings of any investigation to be made public, with those found at fault held legally accountable. The debate has again raised concerns over spending efficiency and the management of public finances. Sector officials said tanker leasing decisions and their effect on costs should be subjected to independent audit, and that greater transparency is needed during the company's tendering and contracting stages. The company has been told to make its bidding and contracting processes more transparent. Officials indicated the process will be closely monitored and that those found responsible will be held to account.