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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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    The National: Baghdad is seeking an agreement with the region to resume oil exports at full capacity

    Rocky
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    The National: Baghdad is seeking an agreement with the region to resume oil exports at full capacity Empty The National: Baghdad is seeking an agreement with the region to resume oil exports at full capacity

    Post by Rocky Thu 30 Mar 2023, 5:40 am

    [size=45][size=41]The National: Baghdad is seeking an agreement with the region to resume oil exports at full capacity[/size]
     15 hours ago
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    A report by the British newspaper The National confirmed, on Wednesday, that the Iraqi government is seeking to conclude a final agreement with Kurdistan to resume Iraqi exports from Kurdistan, amounting to 0.5 percent of world oil production.
    The report stated, “The dispute between Baghdad and Erbil is due to controversial articles in the Iraqi constitution of 2005, as Iraqi officials in Baghdad and members of the Kurdistan Regional Government are trying to reach an agreement on the future of the northern region’s oil exports, after the talks ended without a result on Tuesday.” ".
    He added, “The negotiations come in the wake of the issuance of international arbitration last week, which declared Kurdish oil exports illegal, which led to the closure of the main export pipeline through the Turkish port of Ceyhan.” About 0.5 percent of global production has stopped.
    “The KRG is currently working hard with Baghdad to pass the oil and gas law,” said a Kurdish government official, speaking on condition of anonymity, explaining that the Kurdish interpretation of Iraq’s 2005 constitution says, “Article 112 of the constitution states that we must properly manage the oil and gas sector.” joint, and this is what we have been trying to do since 2019 with the current government.” According to him.
    The Paris-based International Chamber of Commerce’s International Court of Arbitration had ruled that Kurdish exports violated a 1973 agreement between Baghdad and Ankara, which said the pipeline through Ceyhan could not be used without Baghdad’s permission.
    And he explained that the ruling also included “an order for Turkey to pay about 1.5 billion dollars in compensation to Iraq, which is a much smaller amount than what Baghdad had hoped for.” Iraq was also ordered to pay an amount not yet known to Turkey for failing to pay Turkey a fee for using the pipeline in Turkish territory.
    He noted that, in the absence of a deal, up to 450,000 barrels per day of oil from fields operated by Kurdish and international companies could be shut down, but a deal on the fate of the oil — which Baghdad has long insisted belonged to the federal government — might be struck, making It could mean that the heavily indebted KRG will receive about $1 billion a month from the federal government.”
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