economy , 2023/08/22 11:20 , the number of readings: 78
[rtl]Baghdad - Iraq today:
A source in the office of Iraqi Oil Minister Hayan Abdul Ghani said that the minister arrived in the Turkish capital, Ankara, to discuss several issues, including the resumption of oil exports through the port of Ceyhan.[/rtl]
[rtl]Turkey stopped Iraq's exports of 450,000 barrels per day through the "Iraq-Turkey North" pipeline on March 25, after a ruling in an arbitration case issued by the International Chamber of Commerce.
Iraq had filed the case before the International Chamber of Commerce Arbitration Tribunal in Paris in 2014, and it was related to Turkey's role in facilitating oil exports from Iraqi Kurdistan without the approval of the federal government in Baghdad.[/rtl]
[rtl]The Iraqi federal government says that the state-owned SOMO company is the only entity authorized to manage crude exports through the port of Ceyhan.
Iraq said that Ankara and the Turkish state energy company "Botas" had violated the provisions of the Iraqi-Turkish pipeline agreement signed in 1973 by transporting and storing oil from Kurdistan and loading it into tanks in Ceyhan without Baghdad's approval.
Turkey wants to negotiate the amount of compensation that the arbitral tribunal ordered Ankara to pay, and it also requests clarification on other pending arbitration cases.
An oil ministry official close to oil export operations in northern Iraq said:
The International Chamber of Commerce arbitration panel ordered Turkey to pay compensation to Baghdad worth approximately $1.5 billion for unauthorized exports that left the Kurdistan region of Iraq between 2014 and 2018. “The discussions will focus on compensation contained
in the arbitral tribunal's ruling and arbitration cases pending against Ankara," the official added.[/rtl]
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