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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 North Company reveals the destinations of Kirkuk oil after stopping its export to Turkey

    Rocky
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    • Post n°1

    The North Company reveals the destinations of Kirkuk oil after stopping its export to Turkey Empty The North Company reveals the destinations of Kirkuk oil after stopping its export to Turkey

    Post by Rocky Sat 03 Jun 2023, 7:02 am

    [size=45][size=41]The North Company reveals the destinations of Kirkuk oil after stopping its export to Turkey[/size]
     17 hours ago
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    The production of the Kirkuk fields of crude oil is marketed locally, as it is distributed to oil refineries in Iraq, after the cessation of the export process abroad through the pipelines of the Kurdistan region.
    Kirkuk oil was exported daily through the pipelines of the Kurdistan Region to the Turkish port of Ceyhan, but the export process has stopped since March 25, 2023, by a decision of the International Court of Arbitration in Paris, based on a complaint by the Iraqi government against the export of Kurdistan Region's oil.
    The complaint submitted by the Iraqi government came because of the differences between Baghdad and Erbil over the file of crude oil production and export, which remained pending for years.
    Farhad Hamza, chief engineer of the North Oil Company - which oversees Kirkuk's oil wells - said, "The halt in oil exports did not cause harm to the people of Kirkuk and will not have repercussions, because most of the oil produced in the province's fields is pumped to refineries."
    He explained that the crude oil is sent to the Kar, Qaiwan, Haditha and Baiji refineries and other refineries in the various governorates of Iraq.
    In the month of May, there were no oil exports to Turkey, while the total crude oil exports for the month of March amounted to 1,727,494 barrels, with revenues exceeding 124 million dollars.
    “Oil production did not stop due to the cessation of exports… Currently, 350,000 barrels are produced per day as before, and most of them are pumped to refineries, except for the oil that is exported to Jordan. Production decreased for a few days, then returned as before,” according to Farhad Hamza.
    Early this month, the Iraqi government renewed its agreement with Jordan to export 10,000 barrels of Kirkuk crude oil per day through tankers.
    The chief engineer of the North Oil Company explained that they can process the oil produced in Kirkuk even if it is not exported abroad, because there are large oil storages and when they are full, plans are made to use the stocks.
    Kirkuk oil is exported daily through the pipelines of the Kurdistan region to the Turkish port of Ceyhan, but the export process has been suspended since March 25 by a decision of the International Arbitration Court in Paris, based on a complaint by the Iraqi government against the export of Kurdistan region's oil.
    The complaint submitted by the Iraqi government came because of the differences between Baghdad and Erbil over the file of crude oil production and export, which remained pending for years.
    On April 4, 2023, the Iraqi federal government and the Kurdistan Regional Government reached a temporary agreement to resume oil exports through pipelines that pass through the Kurdistan region to Turkey until the oil and gas law is approved, but exports have not resumed yet.
    Ali Hammadi, assistant governor of Kirkuk for technical affairs, expressed his concern that stopping exports would affect oil production and thus reduce Kirkuk's petrodollar budget.
    According to the ministerial platform of the Iraqi government, the petrodollar budget is spent at a rate of 5 percent for the oil-producing provinces.
    Hammadi believes that stopping oil exports does not directly affect the people of Kirkuk, but it may have repercussions on oil production, given that the quantity that is produced now is for refineries only.
    There are five main oil fields in Kirkuk, Avana, Bai Hassan, Qubbat Baba, Jambur and Khabza, which are supervised by the North Oil Company of the Iraqi government.
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