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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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    After the signing.. Baghdad and Erbil throw the ball of the oil agreement in "Turkey's court," await

    Rocky
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    After the signing.. Baghdad and Erbil throw the ball of the oil agreement in "Turkey's court," await Empty After the signing.. Baghdad and Erbil throw the ball of the oil agreement in "Turkey's court," await

    Post by Rocky Tue 18 Apr 2023, 5:41 am

    After the signing.. Baghdad and Erbil throw the ball of the oil agreement in "Turkey's court," awaiting the resumption of exports




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    2023-04-18 04:20
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    Shafaq News/ Reuters revealed that the governments of Baghdad and Erbil have reached a settlement related to technical but important issues regarding the issue of resuming oil exports from Kurdistan Region to the Turkish port of Ceyhan, and from there to global markets. 



    And he mentioned the report, which was translated by Shafak News Agency; That Turkey had stopped oil exports from the region, amounting to 450,000 barrels per day, on March 25, after the issuance of a decision by the International Trade Court in Paris, asking Turkey to pay compensation to the Baghdad government in the amount of 1.5 billion dollars for the Kurdistan Region’s oil exports, which it considered illegal. legitimate between 2014 and 2018.
    The Reuters report cited four sources. Two of their sources told the agency that Baghdad and Erbil signed a provisional agreement on April 4 to resume northern oil exports, but continued talks between them on technical issues before engaging in talks with Turkey.
    According to the report; The technical talks will include marketing, pricing and destination.
    The report quoted the four sources as saying that under the planned agreement, the Iraqi Oil Marketing Company "SOMO" will sign contracts with traders under an authorization, while the sale of Kurdistan region's oil to Asia will be prevented and it will be priced according to the official selling price of Kirkuk crude.
    While the Iraqi Oil Ministry and the regional government did not respond to requests from Reuters for comment, the agency quoted two separate sources as saying that international oil companies had invited them to come to Erbil to meet with the Prime Minister of the regional government, Masrour Barzani, on Tuesday morning.
    According to a source, the talks will focus on preparations for the resumption of exports, terms and conditions related to pricing oil sales through SOMO, and the proposed mechanism for paying international oil companies' obligations and their share of future oil sales.
    However, the report indicated that the timetable for the possibility of resuming North Oil exports is not clear. The report quoted one of the sources as saying that the ball is still in Turkey's court.
    Reuters had earlier quoted sources as saying that Ankara was seeking direct negotiations with Baghdad about the $1.5 billion that was ordered by the decision in the arbitration case, to be paid by Turkey to Iraq as compensation.
    In addition, Turkey is also seeking to settle a second arbitration case related to unauthorized oil flows since 2018 first before resuming import and then export operations.
    Translation: Shafak News Agency
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