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Economist: Iraq lost more than $2 billion after stopping the region's oil exports
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Economy News - Baghdad
Researcher Muhammad Salih confirmed that stopping Turkey from producing 500,000 barrels per day of oil in the Kurdistan region and Kirkuk has cost Iraq more than two billion dollars in losses so far.
Salih said that the decision of the International Chamber of Commerce, which obligated Turkey to pay $1.5 billion in fines to Iraq, to facilitate the Kurdistan region's oil exports, contributed to weakening Ankara's influence and its ability to maneuver in Iraqi energy resources.
He pointed out that the investment of Turkish companies in the energy sector in the region added more complexity to the Iraqi-Turkish relations, because Turkey views the oil and gas reserves in the region as a low-cost source of energy for its growing economy.
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Added 08/22/2023 - 8:17 PM
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Economy News - Baghdad
Researcher Muhammad Salih confirmed that stopping Turkey from producing 500,000 barrels per day of oil in the Kurdistan region and Kirkuk has cost Iraq more than two billion dollars in losses so far.
Salih said that the decision of the International Chamber of Commerce, which obligated Turkey to pay $1.5 billion in fines to Iraq, to facilitate the Kurdistan region's oil exports, contributed to weakening Ankara's influence and its ability to maneuver in Iraqi energy resources.
He pointed out that the investment of Turkish companies in the energy sector in the region added more complexity to the Iraqi-Turkish relations, because Turkey views the oil and gas reserves in the region as a low-cost source of energy for its growing economy.
Views 97
Added 08/22/2023 - 8:17 PM
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