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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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    Baghdad has ‘no desire’ to control Erbil’s oil, gas activity: Iraqi oil minister

    Rocky
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    • Post n°1

    Baghdad has ‘no desire’ to control Erbil’s oil, gas activity: Iraqi oil minister Empty Baghdad has ‘no desire’ to control Erbil’s oil, gas activity: Iraqi oil minister

    Post by Rocky Sun 08 May 2022, 10:10 am

    [size=39]Baghdad has ‘no desire’ to control Erbil’s oil, gas activity: Iraqi oil minister[/size]
    19 hours ago

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    ERBIL, Kurdistan Region – The Iraqi government has no desire to control the Kurdistan Region’s oil and gas activity, but only to turn it into a “clear and transparent” business activity, the country’s oil minister said on Saturday, noting that there is still room for negotiations between Erbil and Baghdad.

    “We have assured the Region more than once that there is no desire for Baghdad to control the oil activity in the Kurdistan region, but to organize that activity and turn it into a real, clear, and transparent business activity,” Iraqi Oil Minister Ihsan Abdul Jabbar [You must be registered and logged in to see this link.] in a meeting with the ministry’s advising council. 

    Jabbar added that Erbil’s management of the oil and gas industry is “incorrect” claiming that the Kurdistan Region selling oil at a lower price than Iraq’s State Organization for Marketing of Oil (SOMO) price has led to the Region earning less than 50 percent of its oil revenue as net income.

    The Iraqi minister’s statement followed a visit from a Kurdistan Regional Government (KRG) delegation to Baghdad last month to discuss the management of the Kurdistan Region’s oil and energy sector.

    The delegation’s came after the Iraqi Federal Supreme Court in mid-February ruled against the Kurdistan Region’s oil and gas law that regulates the oil sector in the Region, putting its industry in jeopardy. 

    The KRG passed its oil and gas law in 2007, enabling it to administer and develop its own oil and gas resources.

    The top court’s decision found the law to be “unconstitutional,” and therefore struck down the legal basis for the independence of the Kurdistan Region’s oil and gas sector. The decision came amid ongoing political tension and an ongoing government formation process in a country that has now failed to elect a president almost seven months after elections in October.

    Jabbar on Saturday said that “starting the implementation of the resolution's provisions does not mean interrupting the dialogue,” and welcomed any approach from Erbil to continue discussions.

    “We respect the constitutional authorities of the region and we propose to convert these authorities into a transparent standard system that fits the foundations of the oil industry,” he added.

    Kurdistan Region Prime Minister Masrour Barzani has slammed the court’s decision on multiple occasions.

    “We have sensed that the federal oil ministry has been emboldened by the court ruling, signaling intent to go far beyond its stated intent to undermine Kurdistan’s federal status,” PM Barzani said in March, slamming the court’s decision as a “blatant political move by an unconstitutional court”.

    “This will not change our position. We will aggressively defend our constitutional rights,” PM Barzani added.  

    There are 52 oil blocks in the Kurdistan Region, 16 of them are in production, and 15 are in exploration phases. Over 30 international and local companies are working in the sector. The Region produces around 450,000 barrels per day.
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