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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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    An economist lists the details of 5 options for Baghdad to deal with the oil of the Kurdistan region

    Rocky
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    • Post n°1

    An economist lists the details of 5 options for Baghdad to deal with the oil of the Kurdistan region Empty An economist lists the details of 5 options for Baghdad to deal with the oil of the Kurdistan region

    Post by Rocky Sun 08 May 2022, 10:16 am

    An economist lists the details of 5 options for Baghdad to deal with the oil of the Kurdistan region

    [ltr]2022.05.08 - 11:33[/ltr]


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    Baghdad - people   
    On Sunday, Professor of Economics at Basra University, Nabil Al-Marsoumi, put forward options that he said are available to Baghdad to deal with the Kurdistan region's oil file in the event that the latter insists on implementing the court's decision.  
      
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    Al-Marsoumi said in his blog post, followed by "Nass" (May 5, 2022): "After the Federal Supreme Court in Iraq ruled that Kurdistan is illegal to produce and export oil and gas independently of the central government in Baghdad, and after the Kurdistan Region refused to implement the court's decision, The options available to the Iraqi government are:The first of these is the resumption of the lawsuit filed by the Oil Ministry at the International Chamber of Commerce in Paris against Turkey, which since 2014 has allowed Kurdistan to export its oil in isolation from the Iraqi central government by linking Kurdish pipelines to the Iraqi-Turkish line in the Kurdish town of Fishkhabur, which enabled the region to sell its oil And retaining its revenues without the authorization of the Iraqi Ministry of Oil, which Baghdad considered an illegal practice, prompting the Iraqi Oil Marketing Company (SOMO) on behalf of the Ministry of Oil to resort to international arbitration and file a lawsuit against the Turkish government represented by the state-owned pipeline operator BOTAŞ. , indicating that "Any ruling against Turkey will lead to obligating it to follow Baghdad’s instructions regarding marketing all Iraqi oil and loading it in Ceyhan. The court’s decision may open the door for Iraq to claim compensation, and it is known that this pipeline currently transports about 500,000 barrels per day, including 400,000 barrels per day of Kurdistan oil and 100,000 barrels per day. barrels per day of Kirkuk crude.   
      
    He added that "the second option is to seize the funds of Kurdistan's oil revenues, which are in international banks, which will put the regional government in a more difficult financial situation than it is."   
      
    As for the third option, according to the economist, it is: "Stop sending any money to Kurdistan from the general budget until the Federal Court's decision is implemented."   
      
    Al-Marsoumi also indicated that "the fourth option is towards entering into direct negotiations with foreign companies operating in the region for the purpose of reviewing the contracts signed between them and the region and amending them in the interest of both parties, provided that the Ministry of Oil, through one of its companies, manage these contracts, and if the companies refuse, it is possible Demanding Western and Arab countries that have companies operating in the Kurdistan region to implement legal measures against these companies, which may cause urgent losses to the shares of these companies in the global stock exchange.   
      
    And the fifth option, according to the economics professor: "Prosecuting the companies that are currently working on laying a pipeline to transport gas from Kurdistan to Europe via Turkey for inconsistent with the decision of the Federal Court that repealed the Oil and Gas Law of 2007 in Kurdistan."  
      
    And Oil Minister Ihsan Abdul-Jabbar spoke, earlier, about the decision of the Federal Court on the oil of the Kurdistan region, while noting that the management of oil activity in the region is “incorrect.”  
      
    Abdul Jabbar said during the meeting of the Ministry’s opinion board, which was followed by “Nas” (May 7, 2022), that “the management of the oil activity in the region is incorrect, as it is incorrect that the sale be at prices much lower than the prices of SOMO oil,” noting that “the revenues The net amount that goes to the region’s budget does not exceed 50 percent of the value of the oil sold.”     
      
    And the minister added, "There is no country in the whole world that has two energy management policies, and this difference has negative effects on dealing with OPEC, in addition to the fact that the multiplicity of destinations is also incorrect," noting that "the Federal Court's decision regarding the region's oil came as an explanation of the provisions of the constitution, as The political mood cannot be a pioneer in the oil industry, as the oil file is very profitable and is affected by the state's foreign policy with the interacting countries."     
      
    He added, "More than (75) days of discussion and initiatives, all Baghdad's attempts, flexibility in dealing with the region, and the desire to bridge confidence have not achieved any result," noting that "we are going towards the literal application of the Federal Court's decision regarding the region's oil."    
      
    Abdul Jabbar continued, "The Ministry of Oil and the Board of Directors of the National Oil Company must prepare to face the upcoming challenges in implementing the decision, and many arrows will go to the Ministry of Oil," explaining that "the Iraqi National Oil Company will be responsible for managing the energy file internally, and the Ministry of Oil will be responsible for dealing with With the Ministry of Finance and international and foreign bodies.    
      
    The minister stated, "It seems that historical experiences have led to a rift in trust between the center and partners in the region, but we are not responsible for this problem, and we have tried to be as flexible as possible," noting that "starting to implement the provisions of the decision does not mean cutting off The dialogue, and we welcome the officials of the oil file in the region, if they wish to open the discussion again.”    
      
    And Abdul-Jabbar stated, "The main resource for the country is the Ministry of Oil, and it should be far from the mood and political interference, in order to prevent the collapse of the country's economic system," stressing that "the decision of the Federal Court came in an explanation of the provisions of the constitution and in line with the correct standards for managing the energy file, and its application will lead to the protection of Energy security in the federal state and return things to the normal course.    
      
    He continued: "We do not know what the legal basis is for one part of the country to export energy while another part of the country needs it, and this does not exist even in the old federal states," noting that "it is not fair that there is a duplicitous dealing in The same country, and all proceeds from the oil produced must go to the general budget."    
      
    Abdul Jabbar said, "Commercial activity is the basis for managing the energy file, not the desire to control the decision, and we have assured the region more than once that Baghdad has no desire to control oil activity in the Kurdistan region, but the government wants to regulate oil activity and turn it into a commercial activity." Real, clear and transparent, and we seek to lay the foundations of a strong federal state that manages its entire oil activity with a scientific standard management to achieve the highest returns in the most sustainable and lowest cost, and this is the main objective of the Iraqi National Oil Company.    
      
      
      
    The Kurdistan Regional Government announced, earlier, the continuation of negotiations with Baghdad to reach an agreement on the oil and gas file, noting that the radical solution to this file lies in the adoption of the federal oil and gas law.  
      
    A statement issued by the regional government, followed by "Nass" (April 13, 2022), said that "the Council of Ministers of the Kurdistan Region held its regular session today, Wednesday, April 13, 2022, headed by Prime Minister Masrour Barzani and in the presence of Deputy Prime Minister Qubad Talabani, and discussed a number of issues. listed on its agenda.      
      
    He added, "At the beginning of the meeting, the Deputy Prime Minister briefed about the visit of the Kurdistan Regional Government delegation to Greece and its participation in the Delphi Economic Forum and its meetings with senior Greek officials, and indicated that the Greek government expressed its willingness to cooperate with the Kurdistan Region in various fields, especially in In the tourism and investment fields, he said, "A high-ranking Greek delegation is scheduled to visit the Kurdistan Region to work on consolidating relations."      
      
    And he continued, "In the first axis of the meeting, the Minister of the Region for Negotiations with the Federal Government, Khaled Shwani, touched on the visit of the delegation of the Kurdistan Regional Government to Baghdad this week and its meeting with the Federal Ministry of Oil."      
      
    He continued, "After discussions and deliberations, the Council of Ministers commended the delegation and directed it to continue negotiations. It also stressed the constitutional rights and powers of the Kurdistan Region and its defense within the framework of the Iraqi constitution. In light of this, the Kurdistan Regional Government will continue to negotiate with Baghdad to reach an agreement on the oil and gas file." In the public interest, while meetings and negotiations are still going on, and no final agreement has been reached.      
      
    The statement added, "As the Kurdistan Regional Government considers that the radical solution to this issue lies in approving the federal oil and gas law as stipulated in the constitution, it renews its legal obligations towards the oil companies operating in the region, until a final agreement is reached in the light of the constitution in a way that protects the rights of all parties and achieves the highest benefit for the people.      
      
    In the second paragraph of the meeting’s agenda, the Council of Ministers discussed, according to the statement, the follow-up to the work mechanism within the joints of the Kurdistan Regional Government to improve government work, enhance coordination between ministries and government institutions, end red tape, follow up on ministries’ demands and needs and address them to develop public services provided to citizens and meet their demands and needs.      
      
    In the third paragraph of the agenda, the Council of Ministers approved the draft (the system of the trade name and commercial registry in the Kurdistan region) in light of Law No. (14) of 2021, which aims to reorganize the procedures for obtaining trade names and registration in the commercial registry and identifying the concerned party. The Ministry of Trade and Industry of the regional government, which will provide facilities to merchants and business owners in addition to benefiting from information technology and granting unique numbers to merchants in order to facilitate the conduct of transactions, reduce red tape and encourage commercial activity, according to the statement.      
      
    He pointed out that "in another part of the meeting, the Council of Ministers decided to approve (the new bill for the Ministry of Municipalities and Tourism in the Kurdistan Region), which was submitted by the Minister of Municipalities and Tourism Sasan Awni. According to the reasons for preparing the bill, the new law aims to make the ministry able To respond to the process of developing and expanding cities and towns in the region, and to meet the demands and needs of citizens.      
      
    And he indicated, "The draft law includes organizing the new structure of the ministry in departments, directorates, municipal and tourist institutions in governorates, independent departments, districts and sub-districts, at the level of the ministry's goals and activities, taking advantage of ten years of experience during the implementation of the current law, and it was decided that the project would be referred to Kurdistan Parliament to legislate it.”      
      
    The statement concluded by saying, "After that, the Council of Ministers approved the proposal of the Minister of Agriculture and Water Resources, Bekard Talabani, regarding raising fees, taxes and customs on importing livestock during the month of Ramadan due to the high prices of red meat in the region's markets."      
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