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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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    Iraq is close to resolving an oil dispute with Turkey in its favour

    Rocky
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    Iraq is close to resolving an oil dispute with Turkey in its favour Empty Iraq is close to resolving an oil dispute with Turkey in its favour

    Post by Rocky Sat 16 Jul 2022, 5:34 am

    [size=38]Iraq is close to resolving an oil dispute with Turkey in its favour[/size]


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    Baghdad / Obelisk: Oil Minister Ihsan Abdul-Jabbar announced on Friday 15/07/2022 that Iraq is close to resolving an oil dispute with Turkey in its favour, by an international decision.
    A statement issued by the Ministry of Oil said that the final session of the arbitration panel of the International Chamber of Commerce in the dispute between the Republic of Iraq and the Republic of Turkey regarding the pipeline agreement between Iraq and Turkey was held in Paris in July 2022.

    The Minister of Oil, Ihsan Abdul-Jabbar Ismail, affirmed Iraq's keenness to restore its legitimate rights to its national wealth in accordance with international laws and treaties, stressing Iraq's respect for just and equitable decisions issued by the courts and the concerned authorities that consider cases related to violations and disputes, including those related to oil wealth.

    The Minister of Oil added that he firmly believes that the correct approach is to work on resolving these issues by resorting to peaceful legal methods.

    According to the statement, the International Chamber of Commerce is considering the arbitration case filed by the Republic of Iraq against the Republic of Turkey for violating the provisions of the Iraqi-Turkish pipeline agreement signed in 1973, which 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 centers Storage, drainage and terminal.

    At the hearing, which was held in Paris, the Ministry of Oil was represented by the Minister personally, a number of ministry officials, the Iraqi embassy in Paris, and the legal and technical work team, due to the importance of the lawsuit as it is the largest in the history of Iraq.

    The Minister of Oil said, according to the statement, that the arbitral tribunal closed the presentation of the case by the parties, after hearing their regulations and their pleas, and that there was no further opportunity for extension or postponement. He expected that the arbitral tribunal of the International Chamber of Commerce in Paris would issue its final and decisive decision within the next few months.

    The Minister of Oil expressed his gratitude to the arbitration panel of the International Chamber of Commerce in Paris for its professional handling of the dispute, which gave the two parties the opportunity and time to defend their positions.

    He explained that Iraq has good relations with Turkey and that this arbitration does not constitute an obstacle to the development and expansion of bilateral relations to achieve common interests, while Iraq retains its constitutional powers and sovereignty over all its wealth.

    The Minister of Oil praised the distinguished efforts of the International Legal Advisory Office and the Ministry’s Legal Committee in defending Iraq’s rights to manage its oil wealth and the Ministry of Oil’s possession of its constitutional powers and authorities, for their serious efforts over the past years to achieve justice and restore Iraq’s legitimate rights in order to preserve its security and sovereignty in accordance with for the statement.
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