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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Reuters: Türkiye's desire to negotiate compensation is disrupting Iraqi oil exports

    Rocky
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    • Post n°1

    Reuters: Türkiye's desire to negotiate compensation is disrupting Iraqi oil exports Empty Reuters: Türkiye's desire to negotiate compensation is disrupting Iraqi oil exports

    Post by Rocky Sat 15 Apr 2023, 7:18 am

    [size=46]Reuters: Türkiye's desire to negotiate compensation is disrupting Iraqi oil exports[/size]


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    Economy

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    [size=30]Oil exports from northern Iraq to the Turkish port of Ceyhan are still suspended, nearly three weeks after a ruling was issued in an arbitration case stipulating that Ankara pay compensation to Baghdad in exchange for allowing oil exports from the semi-autonomous Kurdistan region in northern Iraq without permission from the Baghdad government.[/size]
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    The ruling issued by the International Chamber of Commerce on March 23 obligated Turkey to pay $1.5 billion in compensation to Baghdad for allowing Ankara to pump Kurdistan’s exports from 2014 to 2018.    [/size]
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    In response, Turkey halted the flow of 450,000 barrels per day of oil exports.    [/size]
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    Sources said Turkey wanted to negotiate compensation as well as resolve a second arbitration case related to flows from 2018 before pumping oil was re-authorised.    [/size]
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    An informed source, who requested anonymity, told Reuters today, Friday, that the pipeline operators have not yet received any instructions regarding the resumption of pumping.    [/size]
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    Two other sources told Reuters that Baghdad has not yet asked Turkey to resume pumping oil.    [/size]
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    A third source told Reuters that Turkey is seeking direct negotiations on compensation amounting to $1.5 billion, which was ordered to be paid to Iraq.    [/size]
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    Two Iraqi oil officials told Reuters that the Iraqi state oil marketing company (SOMO) is waiting for the completion of some technical issues necessary to resume flows, in cooperation with the Ministry of Natural Resources in the Kurdistan Regional Government.

    The federal government in Baghdad signed an interim agreement with the regional government on April 4, hoping to resume pumping oil.    [/size]
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