Home
It includes 11 points.. An “important” clarification from Oil regarding the cessation of Kurdistan exports
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
Today, Monday, the Ministry of Oil issued an explanation regarding the cessation of exports from the Kurdistan region.
The Ministry stated in a statement received by Al-Eqtisad News that it “saw a statement issued by a party calling itself the Kurdistan Oil Industry Association (Pikor) on 3/23/2024, and the statement included a distortion of the facts and a number of fallacies.”
She added, "In this regard, we would like to clarify the following.
1. The cessation of oil exports through the Iraqi-Turkish pipeline in March 2023 was due to a Turkish decision that resulted from the issuance of an international arbitration decision by the Paris Chamber of Commerce in favor of Iraq. And the export did not stop - not for a single day." - As a result of a federal Iraqi decision. After more than six months and important negotiations led by this ministry with the Turkish side, the two parties reached the restart of the pipeline and the treatment of the technical problems that resulted from its closure, in the shortest possible time. The federal government is the most affected by the cessation of exports for reasons related to With the sovereign oil policy, etc.
2. One of the most important reasons for the current cessation of exports is the reluctance of foreign companies operating in the Kurdistan region of Iraq to officially hand over their production to the regional government to be exported in accordance with the federal general budget law in force, and this includes companies joining the aforementioned association, and it is possible to resume exports in A short period if these companies deliver the oil produced from the fields located in the region in accordance with the law.
3. The federal government and this ministry have previously made diligent efforts to overcome all obstacles to resume exports, as is evident from the content of a large number of books, official correspondence, meetings and relevant decisions. Over a period of a whole year, the most recent of which was our letter No. (480) dated 3/18/2024, which included the necessity of handing over the oil actually produced in the region for the purpose of exporting it. This ministry still insists on resuming exports through the Iraqi-Turkish pipeline as soon as possible, while adhering to the provisions of the constitution and the law.
4. The official communications issued by this ministry, including our aforementioned letter, included references to OPEC reports and international secondary sources approved by them, which confirm the presence of oil production in the region in quantities amounting to (200-225 thousand barrels per day), without the knowledge or knowledge of... Approval of this ministry. Failure to adhere to the general oil policy approved by the federal government puts Iraq’s reputation and its international obligations at risk, and holds the parties responsible for violations liable for all legal consequences.
5. The alleged contracts between the oil companies operating in the region and the Ministry of Natural Resources in the region were not approved by the federal government nor the Federal Ministry of Oil at all, because they lack a sound constitutional and legal basis. This has been the position of successive federal governments and the Ministry of Oil for more than a decade. It is consistent with the decision of the Federal Supreme Court No. (59/Federal/2012 and Consolidated No. 110/Federal/2019) on 2/15/2022. There is no longer room for discussion after the Federal Court issued its final decision that is binding on all authorities, other than adherence to the decision.
6. This Ministry has previously requested from the Kurdistan Regional Government and the oil companies operating in it complete copies of all the contracts mentioned above for the purpose of studying them and arriving at new contracts in accordance with the Constitution, the law, and the best policies followed by this Ministry with major international companies, but the required contracts have not been delivered to anyone. Now, how can it be permissible to demand that this ministry abide by contracts that it has not seen and does not recognize, and which, in principle, are in violation of clear and binding judicial decisions?
7. Federal General Budget Law No. (13) of 2023 was issued, and entered into force on 1/1/2023, and (Article 12/Second/C) included a provision for calculating production and transportation costs equal to the rate paid by this ministry in its contracts. The average cost of production is ($6.9 per barrel), while companies operating in the region are demanding three times this amount (excluding the exaggerated transportation fees as well) as one of a set of conditions for resuming the delivery of produced oil. What called on the House of Representatives to adopt the Oil Ministry’s rate was that neither the House nor any other federal entity was informed of the contracts, as mentioned earlier. The costs claimed by the companies include what they call the repayment of previous debts amounting to billions of dollars, which are amounts unknown to the federal government and are not consistent with the contexts of borrowing in accordance with the Constitution and applicable laws.
8. It has been repeatedly clarified that this ministry cannot violate the budget law and other applicable laws, in addition to indicating that there is a significant exaggeration in the costs mentioned in the previous paragraph. This ministry has previously officially confirmed the immediate resumption of exports in accordance with the law through the Iraqi-Turkish pipeline, while negotiating in parallel to reach a comprehensive, consensual solution in a way that achieves the public interest. However, companies continue to abstain only after submitting in advance to its conditions that violate the law, and this cannot be accepted under any circumstances.
9. The Iraqi government has previously received at the highest levels representatives of oil companies operating in the region as a gesture of good faith with the aim of finding acceptable legal solutions. This ministry has also previously invited those companies to negotiating meetings for the purpose of finding fair solutions, and has initiated ongoing judicial procedures against the aforementioned companies for the purpose of Giving room for consensual solutions, but the companies’ position remained without flexibility or change.
10. The aforementioned association statement included blatant interference in Iraqi internal and external sovereign affairs that have nothing to do with the work of companies. This records an additional violation against the aforementioned association and the companies it represents, and is not consistent with the principles of good faith and the principles of foreign investment work.
11. The Federal Ministry of Oil, under the guidance of the government, is committed to making all possible efforts to resolve the differences and resume exports through the Iraqi-Turkish pipeline in a manner consistent with the constitution and the law. Foreign companies wishing to work in Iraq must respect the country’s sovereignty, laws, and judicial decisions, and adapt their conditions accordingly, instead of interfering in sovereign affairs related to Iraq’s foreign policy.
Views 75
Added 03/25/2024 - 8:31 AM
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
Today, Monday, the Ministry of Oil issued an explanation regarding the cessation of exports from the Kurdistan region.
The Ministry stated in a statement received by Al-Eqtisad News that it “saw a statement issued by a party calling itself the Kurdistan Oil Industry Association (Pikor) on 3/23/2024, and the statement included a distortion of the facts and a number of fallacies.”
She added, "In this regard, we would like to clarify the following.
1. The cessation of oil exports through the Iraqi-Turkish pipeline in March 2023 was due to a Turkish decision that resulted from the issuance of an international arbitration decision by the Paris Chamber of Commerce in favor of Iraq. And the export did not stop - not for a single day." - As a result of a federal Iraqi decision. After more than six months and important negotiations led by this ministry with the Turkish side, the two parties reached the restart of the pipeline and the treatment of the technical problems that resulted from its closure, in the shortest possible time. The federal government is the most affected by the cessation of exports for reasons related to With the sovereign oil policy, etc.
2. One of the most important reasons for the current cessation of exports is the reluctance of foreign companies operating in the Kurdistan region of Iraq to officially hand over their production to the regional government to be exported in accordance with the federal general budget law in force, and this includes companies joining the aforementioned association, and it is possible to resume exports in A short period if these companies deliver the oil produced from the fields located in the region in accordance with the law.
3. The federal government and this ministry have previously made diligent efforts to overcome all obstacles to resume exports, as is evident from the content of a large number of books, official correspondence, meetings and relevant decisions. Over a period of a whole year, the most recent of which was our letter No. (480) dated 3/18/2024, which included the necessity of handing over the oil actually produced in the region for the purpose of exporting it. This ministry still insists on resuming exports through the Iraqi-Turkish pipeline as soon as possible, while adhering to the provisions of the constitution and the law.
4. The official communications issued by this ministry, including our aforementioned letter, included references to OPEC reports and international secondary sources approved by them, which confirm the presence of oil production in the region in quantities amounting to (200-225 thousand barrels per day), without the knowledge or knowledge of... Approval of this ministry. Failure to adhere to the general oil policy approved by the federal government puts Iraq’s reputation and its international obligations at risk, and holds the parties responsible for violations liable for all legal consequences.
5. The alleged contracts between the oil companies operating in the region and the Ministry of Natural Resources in the region were not approved by the federal government nor the Federal Ministry of Oil at all, because they lack a sound constitutional and legal basis. This has been the position of successive federal governments and the Ministry of Oil for more than a decade. It is consistent with the decision of the Federal Supreme Court No. (59/Federal/2012 and Consolidated No. 110/Federal/2019) on 2/15/2022. There is no longer room for discussion after the Federal Court issued its final decision that is binding on all authorities, other than adherence to the decision.
6. This Ministry has previously requested from the Kurdistan Regional Government and the oil companies operating in it complete copies of all the contracts mentioned above for the purpose of studying them and arriving at new contracts in accordance with the Constitution, the law, and the best policies followed by this Ministry with major international companies, but the required contracts have not been delivered to anyone. Now, how can it be permissible to demand that this ministry abide by contracts that it has not seen and does not recognize, and which, in principle, are in violation of clear and binding judicial decisions?
7. Federal General Budget Law No. (13) of 2023 was issued, and entered into force on 1/1/2023, and (Article 12/Second/C) included a provision for calculating production and transportation costs equal to the rate paid by this ministry in its contracts. The average cost of production is ($6.9 per barrel), while companies operating in the region are demanding three times this amount (excluding the exaggerated transportation fees as well) as one of a set of conditions for resuming the delivery of produced oil. What called on the House of Representatives to adopt the Oil Ministry’s rate was that neither the House nor any other federal entity was informed of the contracts, as mentioned earlier. The costs claimed by the companies include what they call the repayment of previous debts amounting to billions of dollars, which are amounts unknown to the federal government and are not consistent with the contexts of borrowing in accordance with the Constitution and applicable laws.
8. It has been repeatedly clarified that this ministry cannot violate the budget law and other applicable laws, in addition to indicating that there is a significant exaggeration in the costs mentioned in the previous paragraph. This ministry has previously officially confirmed the immediate resumption of exports in accordance with the law through the Iraqi-Turkish pipeline, while negotiating in parallel to reach a comprehensive, consensual solution in a way that achieves the public interest. However, companies continue to abstain only after submitting in advance to its conditions that violate the law, and this cannot be accepted under any circumstances.
9. The Iraqi government has previously received at the highest levels representatives of oil companies operating in the region as a gesture of good faith with the aim of finding acceptable legal solutions. This ministry has also previously invited those companies to negotiating meetings for the purpose of finding fair solutions, and has initiated ongoing judicial procedures against the aforementioned companies for the purpose of Giving room for consensual solutions, but the companies’ position remained without flexibility or change.
10. The aforementioned association statement included blatant interference in Iraqi internal and external sovereign affairs that have nothing to do with the work of companies. This records an additional violation against the aforementioned association and the companies it represents, and is not consistent with the principles of good faith and the principles of foreign investment work.
11. The Federal Ministry of Oil, under the guidance of the government, is committed to making all possible efforts to resolve the differences and resume exports through the Iraqi-Turkish pipeline in a manner consistent with the constitution and the law. Foreign companies wishing to work in Iraq must respect the country’s sovereignty, laws, and judicial decisions, and adapt their conditions accordingly, instead of interfering in sovereign affairs related to Iraq’s foreign policy.
Views 75
Added 03/25/2024 - 8:31 AM
[You must be registered and logged in to see this link.]
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
» Among them are the Iraqis... a list of the most sought-after immigrants to America
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
» The House of Representatives adjourns its session
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
» Alsumaria publishes the text of the law against prostitution and homosexuality
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
» International Business: Iraq has made progress in supporting businesses through investment and priva
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
» Parliamentary integrity: Combating corruption requires parliamentary legislation
» Al-Karaawi: America is trying to restrict Iraq
» The State of Law coalition moves to form the local government in Diyala
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
» The Sunni blocs are resolute. The presidency of the Council is ours, away from Al-Halbousi
» Al-Sudani discusses with a workers’ organization his government’s steps in this field
» Parliament holds its session in the presence of 170 deputies
» In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “i
» The UAE company ADNOC resorts to Iraqi oil. Find out the reasons
» The Iraqi Parliament votes to add an item to elect a president to its agenda
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
» Al-Sudani: It is necessary to attract women to work as a productive energy that cannot be disrupted
» Zebari regarding targeting the Kormor field: a systematic attack on the economy of Kurdistan
» Saudi Arabia tops, and this is Iraq's rank... a list of major suppliers of crude oil to South Korea
» With a value of 125 million dollars.. Iraq is at the forefront of countries importing Iranian textil
» More than a billion dollars in sales from the Iraqi Central Bank within a week
» Al-Sudani stresses the need for the expertise of the International Labor Organization to legislate a
» Including the return of 21 wanted persons.. The Iraq Money Recovery Fund counts its achievements in
» The path to development is the criterion between true patriotism and political clowning.
» The file of the Presidency of Parliament is on the state administration table... this evening
» Director General of the International Labor Organization: Many challenges in the world of work and t
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
» Prime Minister: Our government has provided great support for the success of the activities, program
» Al-Asadi: Iraq places the social protection file among its priorities
» Al-Sudani: Iraq is one of the first countries in the region to join the International Labor Organiza
» In the presence of Al-Sudani and Barzani, the State Administration Coalition holds an “important” me
» Appreciating the presence of Al-Sudani... Director General of the Arab Labor Organization: Here from
» Prime Minister: Our government has provided great support for the success of the activities, program
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
» The Parliamentary Development Institute organizes a workshop on the political role of the representa
» With Arab and international participation. Tomorrow will be the start of the Fourth Baghdad Internat
» OPEC Secretary General: The end of oil is not on the horizon
» Closing a number of unlicensed offices and companies south of Baghdad
» Repercussions of the bombing...intensive government movements to resume work in the “Kormor” field
» In the presence of Al-Sudani...the opening of the Arab Labor Conference in its 50th session in Baghd
» Al-Sudani: We are working on drawing future visions regarding the “green and digital” economic secto
» Barzani after the Kormor attack: We are ready to coordinate with Baghdad to put an end to these atta
» Al-Sudani directs the formation of an investigative committee into the circumstances of the Kormo fi
» Bismayah is confused about the new electronic portal.. What about the landlord and the subcontracts?
» Kurdistan Government: Loss of 2,500 megawatts of electricity due to targeting the Kormor field
» Crisis in Kurdistan: 12-hour daily power outage and complaints of “confusion”
» The Supreme Anti-Corruption Commission demands Nineveh for the contracts concluded by “Najm Al-Jubou
» Al-Khanjar, Al-Samarrai, and Abu Mazen are hosted by Shaalan Al-Karim to discuss accelerating the se
» Iraq asks the countries of the world to respond to its requests to extradite wanted persons: We have
» “It is coming soon.” The Sudanese advisor sets the date for the referral of the Baghdad metro and th
» Al-Mubarqa: Iraq reserves its full right to respond to the Australian behavior
» Dollar exchange rates on Iraqi stock exchanges... recorded a decline, and this is the list
» Mr. Al-Sadr supports the position of American university students
» Iraqis are ranked 7th in the Arab world on the list of those most seeking immigration to America. He
» Soon.. 3 new hospitals will open in Baghdad
» Sponsored by Al-Sudani...the opening of the Arab Labor Conference in its fiftieth session in Baghdad
» Al-Shammari chairs a meeting at the controlling headquarters to review the results of the security o
» Arab Labor Organization: We commend Iraq's interest in the Arab Labor Conference
» Al-Sudani: The development road project will provide many job opportunities
» Sudanese advisor criticizes Kuwaiti analyzes regarding the development road project
» Al-Mandalawi stresses the need to strengthen economic and trade cooperation between Iraq and Poland
» Power maneuvers: America provides defensive weapons to Kurdistan in exchange for withholding from Ba
» Kuwait is drilling an oil well near Umm Qasr, towards Iraqi territory
» In the document... the first Iraqi ministry identifies the obstacles to changing the new official wo
» Italian Institute: Iraq is stuck in its own crises, including Baghdad’s efforts to undermine the “au
» The head of the Integrity Commission announces the holding of an international Interpol conference i
» Planning: Iraqi companies are not efficient in conducting the population census
» MM&C 4/25/24 National Bank of Iraq goes live with Temenos core banking and payments
» A banking official indicates a "danger" to Iraq by depriving more than half of its banks of dollars
» With the participation of the Association of Private Banks, investment opportunities are on the tabl
» Within a month... an Iranian border crossing recorded a noticeable increase in exports of goods to I
» The Association of Private Banks appreciates the efforts of the government and the Central Bank to c
» Al-Maliki's coalition presents a third candidate for the position of governor of Diyala
» Arab gathering: The Kirkuk problem is getting complicated and the Sudanese must intervene
» Next week.. a Kurdish delegation will visit Baghdad to meet with the Minister of Finance
» Under the pretext of salaries... Al-Party refrains from handing over port revenues to Baghdad
» Association of Banks: For the first time, we are witnessing a clear targeting of depriving half of t
» Parliament does not know the reason for the delay in sending the 2024 budget schedules: Voting takes
» Applicants for the 2024 Hajj are demanding that the Central Bank secure the dollar for them through
» Governmental and private banks will showcase their services tomorrow during Financial Inclusion Week
» Iraq's oil exports rise despite OPEC+ cuts
» A study explodes a "surprise"... Iraq is among the countries that export oil to "Israel": How is the
» Al-Araji emphasizes working to strengthen national identity
» Al-Sudani visits Saudi Arabia to participate in the World Economic Forum in Riyadh
» Iraq is talking about producing one million additional liters of gasoline
» The Council of Ministers approves the implementation of the Baghdad Metro project
» Minister of Commerce: We formed a joint economic committee with Türkiye