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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 government announces the date of announcing the Baghdad-Erbil oil agreement and discussing the g

    Rocky
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    The government announces the date of announcing the Baghdad-Erbil oil agreement and discussing the g Empty The government announces the date of announcing the Baghdad-Erbil oil agreement and discussing the g

    Post by Rocky Sun 02 Apr 2023, 8:25 am

    [size=30]The government announces the date of announcing the Baghdad-Erbil oil agreement and discussing the general budget
    [ltr]2023.04.02 - 14:02[/ltr]
    [/size]
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    Baghdad - Nas   
    The spokesman for the Iraqi government, Basem Al-Awadi, described the atmosphere of the meetings between the central government and the Kurdistan Regional Government regarding the export of oil from the Kurdistan region as "positive", and the meetings were "frank".  
      
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    The Iraqi government spokesman, Al-Awadi, said in a statement to the Kurdish "Rudaw" channel, followed by "NAS" (April 2, 2023), that "the atmosphere of the meetings between the Kurdistan Regional Government and the Ministry of Oil is positive, and we are awaiting the announcement of the agreement today or tomorrow."  
      
    He explained, "The talks between the two sides are still ongoing, and it is better not to say anything about the agreement until the announcement."  
      
    "We expect the budget to be put on the agenda of a special session of parliament during the next week to ten days, and we hope it will be approved soon for the public interest," he said.  
      
    Earlier, four informed sources revealed to Reuters that the Iraqi federal government and the Kurdistan Regional Government are about to conclude an agreement aimed at resuming oil exports from the north.  
      
    Turkey stopped the flow of oil through the pipeline (TADAWUL: 2360) from the Kirkuk fields in the semi-autonomous northern region to the port of Ceyhan on March 25, after losing a case filed by Baghdad before the arbitration panel of the International Chamber of Commerce.    
      
    In the proceedings, Iraq accused Turkey of violating the 1973 pipeline agreement by allowing the KRG to export oil without Baghdad's approval between 2014 and 2018.    
      
    The quantities that were flowing through the pipeline to the Turkish port of Ceyhan, which are about 450,000 barrels per day, represent only about 0.5 percent of global oil supplies, but the stoppage that forced oil companies operating in the region to stop production or transfer it to fast-filling storage tanks. Last week, it contributed to raising oil prices to nearly $80 a barrel.    
      
    An initial agreement between the two sides states that oil from northern Iraq will be jointly exported by the state-owned Oil Marketing Company (SOMO) and the KRG Ministry of Natural Resources, according to two of the sources, a senior Iraqi official in the oil sector and a KRG official. Kurdistan.    
      
    The KRG official said the revenues would be deposited in an account run by the Ministry of Natural Resources and supervised by Baghdad.    
      
    The two sources stated that the initial agreement was referred to the Iraqi Prime Minister, Muhammad Shia' al-Sudani, for final approval. The KRG source expected the agreement to be ratified on Monday.    
      
    Baghdad and the Iraqi Kurdistan government agreed to continue the meetings after the resumption of oil exports to find solutions to other outstanding problems.    
      
    "These problems include contracts for foreign companies operating in Kurdistan and Kurdish debts," said a senior Iraqi official in the oil sector.    
      
    Trade sources said that the Kurdistan region, after suspending its oil exports, stopped paying six billion dollars through oil shipments owed to a number of energy companies, including Vitol and Petraco.    
      
    The discussions face another hurdle from the Turkish side as a second arbitration case related to the 1973 pipeline agreement for the period from 2018 onwards is still pending. One of the sources said that the settlement of this issue may take about two years.    
      
    Three sources stated that Turkey wants to resolve this issue before reopening the pipeline.    
      
    A senior Turkish official said neither the KRG nor Iraqi federal government officials had yet informed Turkey of the initial agreement and that discussions were ongoing.    
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