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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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    Baghdad "buys" a moral victory with economic losses worth a billion dollars a month

    Rocky
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    Baghdad "buys" a moral victory with economic losses worth a billion dollars a month Empty Baghdad "buys" a moral victory with economic losses worth a billion dollars a month

    Post by Rocky Sat 10 Jun 2023, 4:23 am

    Baghdad "buys" a moral victory with economic losses worth a billion dollars a month

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    Baghdad Today - Follow-up 
    With the days of suspending the export of the oil of the Kurdistan region and Kirkuk exceeded the two-month barrier, Iraq’s losses have exacerbated to exceed two billion dollars so far, which prompted experts and specialists to describe the Baghdad-Erbil conflict at the International Court in Paris, as ending with Baghdad’s moral victory to restore its authority, but it caused Baghdad great economic losses. .
    Experts in the field of oil and economics believe that the federal government in Baghdad is the most affected by the continued cessation of the region's oil exports through Turkish ports, because Baghdad will commit to paying the monthly salaries of Kurdistan employees, which are estimated at half a billion US dollars, and which were deducted mainly from the revenues of the region's oil share.
    Among the supporters of this opinion is the oil expert Kovind Sherwani, who estimates Iraq’s daily losses from stopping Kurdistan’s oil exports at about $33 million, and more than a billion dollars per month, adding that Iraq exports daily 400,000 barrels from Kurdistan, in addition to nearly 80,000 barrels of oil. Exports from Kirkuk also stopped.
    What prompts Sherwani to reinforce his opinion that the Iraqi economy is most affected by the halt in Kurdistan's oil exports, which is that the country's general budget suffers from a deficit of about $50 billion.
    He warns, "If the halt in exports continues until the end of this year, this means that the country will lose one billion dollars a month, and the budget deficit will be exacerbated."
    According to Sherwani, Iraq could have overcome these losses if it had moved diplomatically and discussed with the Turkish side to address and resolve technical problems, stressing that the delay in exporting harms Iraq, the region and even Turkey.

    acquisition of legal value

    On the other hand, the official spokesman for the Iraqi Ministry of Oil, Asim Jihad, disagrees with Sherwani's opinion and says that the matter is not related to material losses as much as it has proven the legal value of the federal government by controlling Iraqi oil exports, and respecting international oil agreements between Iraq and Turkey.
    Assem Jihad said that the Iraqi Ministry of Oil has sent an official invitation to the Turkish Ministry of Energy for a dialogue to resume the export of Iraqi oil, adding, "No party, whatever it is, has the right to export Iraqi oil other than the federal government through the Iraqi Ministry of Oil."
    Jihad estimates the quantities of oil pumped through the Turkish ports at about 450-500 thousand barrels per day, stressing that Iraq will export these quantities according to the mechanisms used by the "SOMO" company, as it is exported in the rest of the country.

    Good hands

    A member of the Energy and Natural Resources Committee in the Parliament of Iraqi Kurdistan, Dr. Sherko Jawdat, believes that damage has befallen Baghdad and Erbil, both politically and economically, after the cessation of oil exports to the region.
    Jawdat stressed the necessity of agreement between the two parties to resolve the dispute between them regarding oil, gas and other files in accordance with the Iraqi constitution, in addition to the enactment of the oil and gas law.
    According to the description of the Kurdish parliamentarian, the region's oil was not in safe hands, whether with regard to its production, export or sale, expressing his hope that it would be in safe hands in the future under the cover of transparency in production, export and sale, he said.
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