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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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    An economic expert clarifies the repercussions of Iraq's lawsuit against Turkey on the oil file inte

    Rocky
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    An economic expert clarifies the repercussions of Iraq's lawsuit against Turkey on the oil file inte Empty An economic expert clarifies the repercussions of Iraq's lawsuit against Turkey on the oil file inte

    Post by Rocky Tue 10 May 2022, 8:13 am

    [size=30]An economic expert clarifies the repercussions of Iraq's lawsuit against Turkey on the oil file internally and externally
    [ltr]2022.05.10 - 11:40[/ltr]
    [/size]
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    The economic expert, Nabil Al-Marsoumi, explained, on Tuesday, the repercussions of Iraq's prosecution of Turkey regarding the oil file, both internally and externally.  
      
      
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    Al-Marsoumi said in the clarification of his follower, "Nass", (10 May 2022): "The Iraqi-Turkish pipeline is a binary large-sized oil pipeline that has been developed so that Iraq can export more than one million barrels of crude oil per day to the Mediterranean region through the port of Ceyhan. Turkish".  
      
    He added, "The two countries signed the Iraq-Turkey pipeline agreement in 1973. This agreement stipulates that the Turkish government (must comply with the instructions of the Iraqi side regarding the movement of crude oil coming from Iraq in all storage and disposal centers and the final station)."  
      
    He explained, "When the agreement was extended in 2010, the pipeline between Iraq and Turkey is a joint property between the two countries and is subject to international agreements, but since early 2014, Ankara has allowed the Kurdistan Region of Iraq to export oil independently from the Oil Ministry, which prompted Iraq to sue Turkey before International Chamber of Commerce in Paris.  
      
    And he continued, "After years of developments behind the scenes, as well as the death of one of the arbitrators, and the completion of naming a replacement judge for him, the court, which is studying 39,000 official books and documents registered in the case record, will hopefully issue its final decision next July, and its decision will be binding on both parties."  
      
    And the economic expert indicated that "if the decision is in favor of Iraq, as expected, Turkey will be obligated to market all crude oil and load it in Ceyhan, including crude oil produced in Kurdistan. The preliminary ruling may open the way for Baghdad to claim compensation in additional sessions in the International Chamber of Commerce." ".  
      
    While he indicated that "such a decision would harm Turkey, which depends on Kurdish oil for 24% of its imports, but most importantly, Kurdistan will be unable to export all its produced oil, which will harm it and the foreign oil companies operating in it, and perhaps export will be limited to quantities Very few, by transporting them to Turkey by tankers, and this would deprive the global oil market of about 400,000 barrels per day, which will affect international oil prices.”  
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