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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The financial implications for the incorporation of Kirkuk into Iraqi Kurdistan

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 280553
    Join date : 2012-12-21
    • Post n°1

    The financial implications for the incorporation of Kirkuk into Iraqi Kurdistan Empty The financial implications for the incorporation of Kirkuk into Iraqi Kurdistan

    Post by Rocky Sun 03 Aug 2014, 7:44 am

    The financial implications for the incorporation of Kirkuk into Iraqi Kurdistan 





    Version: paper - an international Saturday, August 2 / August 2014 (01:0 - GMT)

    After the political developments that took place recently in Iraq when she fell Mosul, however, some of those emerging from the government and the development of events beyond to come out of the Iraqi army from Kirkuk and take the place of the Peshmerga forces of the Kurdistan Regional Government, announced that the last that the city of Kirkuk, which was a disputed area between them and the central government in Baghdad , is no longer as well, but it became part of the county is not going back. Excluding the demographic and geographic factors and political support that claim territory in Kirkuk or decreasing because they are outside the scope of this paper, will limit ourselves to discuss the financial implications of Kirkuk out of the control of the central government as one of the important cities in the oil production and export.



    Iraq is still entirely dependent on oil exports in GDP in budget revenues. In the 2014 budget estimates, which have not yet ratified, oil revenues accounted for more than 90 percent of total revenue. And announced that the International Energy Agency that Iraq's oil production reached 3.6 million barrels per day in February 2014, a level that is phenomenal, and if continued to improve oil production in this way could be up to Iraq's goal sought by a rate of 3.4 million barrels per day.



    Iraq currently produces 3.5 million barrels per day and exported 2.8 million barrels per day, a significant increase did not materialize during the past 25 years.



    Iraq currently occupies second place after Saudi Arabia among the countries of «OPEC» in production. And issued 2.2 million barrels per day from fields in the south and 400 thousand barrels per day from the Kirkuk oilfields.



    The latter is one of the three giant fields in Iraq. But the eastern and southern regions of Iraq are still richer. Each giant oil fields and giant very conveniently located in the south and there is a 70-80 percent of Iraq's oil reserves, while certainly falls 20 percent in Kirkuk, Mosul and Khanaqin.



    In the new Iraqi constitution, Article 112 to give 17 percent of oil revenues to the Kurdistan region on the basis of the proportion of the population to the total population of Iraq. But the differences between the region and the central government on how large the distribution of oil resources. While some believe that the region for such a large percentage of the proceeds of Iraq's oil helped a lot in the economic upswing and the current Urban, claiming the territory concerned that the central government is not fulfilling its obligations in this area. The Minister of Natural Resources in the region drastically that the central government was prepared when the general budget for 2014 assumed that the province exported 400 thousand barrels per day at least, but the figure was not true and enter to balance without holding talks with officials of the province. Hawrami said that the 2013 budget stipulates that the region receives six billion dollars, but he did not receive only $ 900 million, which forced the region to borrow locally and internationally.



    The concerned at the central government Faisrahon that the region produces oil and issued without a return to what otherwise provided for by the Constitution. The region was previously issued oil product tankers across to Turkey and was the federal government sees as a kind of smuggling, but now and after the construction of a new pipeline from northern Iraq to the port of Ceyhan in Turkey, has become by being export line. Turkey signed an agreement with the region to export oil to the region for 50 years. The region has a certain reserve of $ 45 billion barrels with a rapid increase in production capacity which is expected to reach one million barrels per day in 2015 compared to 400 thousand barrels currently.



    The Turkish company run by the public sector to sell oil from the Kurdistan region and develop export proceeds in foreign banks. And made a complaint against the Baghdad government of Turkey to the International Chamber of Commerce in Paris because it facilitates the export of oil from Kurdistan without any authorization from the federal government in Baghdad, as the Constitution provides. Hawrami said after the announcement of the annexation of Kirkuk to the region that the region hopes to increase its exports of oil increased by eight-fold the end of 2015, but stressed that the region is committed to the participation of Kirkuk's oil revenues with the federal government.



    It must be pointed out that the differences between the federal government and the region around the oil located among a wide range of disputes over land and over the independence of the territory and political influence. Despite the fact that the federal government is currently investing heavily in the fields of southern Iraq, which hopes to raise the capacity of Iraq's production significantly in the foreseeable future, but it is, if not solved the problem of the control of the Peshmerga forces on the city of Kirkuk to the negotiations and kept the Government of the Territory revenues of Kirkuk has, on the government Federal reconsider and amend the budget expenditures under the shortfall caused by the interruption of Kirkuk's oil export revenues, or stop, or keep the same expenses and looking for other sources of revenue or increase the size of the budget deficit.
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat 09 Nov 2024, 7:14 pm