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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 complains to Türkiye to an American court to confirm the ruling on exporting the region's oil v

    Rocky
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    Iraq complains to Türkiye to an American court to confirm the ruling on exporting the region's oil v Empty Iraq complains to Türkiye to an American court to confirm the ruling on exporting the region's oil v

    Post by Rocky Wed 12 Apr 2023, 4:39 am

    Iraq complains to Türkiye to an American court to confirm the ruling on exporting the region's oil via Baghdad
    [You must be registered and logged in to see this link.] |Yesterday, 23:0
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    Iraqi oil exports to Turkey through the Ceyhan pipeline are still suspended, despite the passage of about 20 days since the decision of the International Chamber of Commerce to fine Ankara in favor of Baghdad.
    And Baghdad submitted a petition to a US federal court to implement an arbitration ruling against Turkey, related to oil exports through a pipeline to the port of Ceyhan, according to data seen by the specialized energy platform.
    The ruling prompted Turkey to stop Iraqi oil exports from the Kurdistan region, which are estimated at 450,000 barrels per day, equivalent to 0.5% of global oil supplies.
    The ruling found that Ankara had breached a treaty with Baghdad by facilitating independent oil sales to the KRG.

    Türkiye fined

    Under an arbitration ruling issued by the International Chamber of Commerce on March 22, Iraq was awarded compensation in a case in which Baghdad accused Ankara of allowing the Kurdistan Regional Government to export oil without Baghdad's approval between 2014-2018.
    Pipelines to transport oil to the Turkish port of Ceyhan - archives
    And Baghdad requested in the petition, submitted to the US District Court of Columbia, recognition, confirmation and enforcement of the final ruling issued by the international arbitral tribunal, according to documents seen by Reuters news agency.
    Iraq said on March 25 that it had won the arbitration case, and according to a source familiar with the case, the court obliged Turkey to pay Iraq $1.5 billion before interest in a ruling covering 2014-2018.
    After 3 days, the Turkish Ministry of Energy said that the international tribunal had also ordered Iraq to pay compensation to Ankara.

    stop oil exports

    The arbitration ruling prompted Turkey to stop the flow of Iraqi oil exports through the Ceyhan pipeline, which is equivalent to about 0.5% of global supplies.
    Baghdad describes the exports of the Kurdistan Regional Government through the Ceyhan line as illegal, as they are exported without obtaining the permission of the central government.
    The Iraqi federal government and the Kurdistan Regional Government signed an interim agreement last week allowing northern oil exports via Turkey to resume, but the flows have not started, according to shipping companies.
    Sources said Turkey wants to settle another case covering the period from 2018 onwards before the pipeline is reopened, Reuters reported.
    And reports - seen by the specialized energy platform - revealed that Iraqi oil exports decreased by 200 thousand barrels per day during last March, as oil sales from all parts of the country fell sharply during the past month to 3.534 million barrels per day from 3.738 million barrels per day in February. /February.
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