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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq begins the first step to implement the US embargo on Iran

    Rocky
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    • Post n°1

    Iraq begins the first step to implement the US embargo on Iran Empty Iraq begins the first step to implement the US embargo on Iran

    Post by Rocky Fri 26 Oct 2018, 5:03 pm

    Iraq begins the first step to implement the US embargo on Iran
     [You must be registered and logged in to see this link.]  26/10/2018  30
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    Iraq begins the first step to implement the US embargo on Iran
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    BAGHDAD (Reuters) - Iraq will halt the transfer of crude from Kirkuk's northern oil field to Iran in November to comply with US sanctions on its neighbor, five sources familiar with Iraqi oil exports said on Friday.
    Kirkuk is one of the largest and oldest oil fields in the Middle East. Iraq began last year to ship oil from Kirkuk to Iran for use in refineries, and Iran agreed to hand over a similar amount of oil to the ports of southern Iraq.
    The sources told Reuters that Iraq currently exports less than 30,000 barrels per day to Iran by truck.
    "The export of Kirkuk oil through trucks to Iran will be stopped in November in line with US sanctions against Iran," a source said, noting that the Iraqi oil marketing company Sumo plans to sell 30,000 barrels per day of heavy oil from a small field near Mosul Beginning next month as an alternative step. Sumo released the offer to companies yesterday (Thursday). "
    US President Donald Trump's decision in May to withdraw the United States from the nuclear deal with Tehran in 2015 and re-impose sanctions on Iran in the position of the next Iraqi government headed by Prime Minister Adel Abdul Mahdi in a difficult situation because the country's economy is closely intertwined with neighboring Iran .
    BAGHDAD (Reuters) - Iraq will give priority to its own interests and independence in helping the United States enforce sanctions, but Washington said there would be consequences for countries that did not respect sanctions, Abdul Mahdi said on Thursday.
    "The United States is putting pressure on Iraq to suspend shipments of oil to Iran and resume Kurdish oil flows to Turkey. If Turkey gets more oil from Iraq, it will be difficult for Ankara to argue that it needs an American exemption," a source familiar with Iraqi oil exports told Reuters. To continue to buy Iranian oil. "
    The sources said that the federal government headed by outgoing Prime Minister Haider Abadi reached an agreement in mid-October with the Kurdistan Regional Government to resume the export of crude to the Turkish port of Ceyhan through the Kurdistan region.
    The agreement is subject to final approval by Abdul Mahdi and Oil Minister Thamer Ghadhban, it said.
    "The Kurdish authorities in the region and the government of Abadi reached an agreement to resume the export of Kirkuk oil and it was agreed that the final decision will be with the new government and the oil minister to sign a final agreement."
    Two officials of the North Oil Company told Reuters that the federal government and the Kurdistan Regional Government reached an agreement, but Abdul Mahdi's signature is necessary before the agreement becomes final.
    In the meantime, Sumo announced a tender on Thursday to sell limited quantities of heavy oil from the Qayara oilfield in the north of the country for export by land trucks. Sumo invited companies to bid by November 4, the date of the new sanctions on Iran.
    US Energy Secretary Rick Perry said last month that Trump was not considering withdrawals from US oil emergency stockpiles to offset the impact of imminent sanctions on Iran and would instead rely on top oil producers to keep the market stable.
    He added that about 300 thousand barrels per day of oil may reach the markets if Iraq allows the flow of crude from the Kurdistan region.
    Late last year, Iraq began shifting production from Kirkuk oilfields to local refineries to boost fuel production and help supply more oil for export from southern ports.
    And stopped exports of Kirkuk oil fields after the events of the imposition of federal control in the province on October 16, 2017 following the failure of the referendum on the separation of Kurdistan region from Iraq.


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