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An expert details solutions to the region's oil crisis.. "We do not need Turkey.".. "A few days and we will bid farewell to exports."
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Baghdad today - Baghdad
Oil expert Bahgat Ahmed confirmed, today, Friday, that after the Finance Committee votes on Article 13 of the Budget Law, the region's oil problem will be resolved.
Ahmed told (Baghdad Today) that "the region's oil has become exclusively in the hands of the National Oil Company (SOMO), and it is obligated to find a solution for it, whether by exporting it or benefiting from it for local consumption."
He added, "In light of the difficult and complex Turkish conditions, the Federal Ministry of Oil will benefit from the region's oil with local production, especially since Kurdistan's refineries are able to absorb 400,000 barrels of oil per day, provided that this amount is compensated for by the oil of other provinces in export."
He pointed out that "after voting on the budget and its entry into force, that is, after its publication in the Official Gazette, the Ministry of Oil will resort to benefiting from the region's oil for local consumption, even if temporarily, until an agreement with Turkey to re-export through the port of Ceyhan, and this is the best option at the time." Present".
The Turkish Ministry of Energy said, March 28, 2023, that the International Chamber of Commerce had ordered Iraq to pay compensation to Ankara in a long-running arbitration case related to oil exports from northern Iraq via Turkey.
The Kurdistan Regional Government in northern Iraq lost more than $1.5 billion from stopping oil exports to Turkey.
Earlier, the central government and the Kurdistan Regional Government signed an agreement to resume Kurdish oil exports via Turkey. But Turkey has continued to cut off the flow of oil, saying it wants to negotiate arbitration before exports resume.
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