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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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    Huge losses for the Kurdistan Region of Iraq due to the continued suspension of oil exports

    Rocky
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    • Post n°1

    Huge losses for the Kurdistan Region of Iraq due to the continued suspension of oil exports Empty Huge losses for the Kurdistan Region of Iraq due to the continued suspension of oil exports

    Post by Rocky Thu 24 Aug 2023, 4:39 am

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    [size=52]Huge losses for the Kurdistan Region of Iraq due to the continued suspension of oil exports[/size]

    [size=45]The losses of the Iraqi Kurdistan region from stopping oil exports are close to 5 billion dollars, while Iraq is trying to reach an agreement with the Turkish side in order to resume exports, which stopped about 5 months ago.[/size]
    [size=45]Turkey halted the oil flows on March 25 after an ICC arbitration panel ordered Ankara to pay Baghdad nearly $1.5 billion in damages for the KRG's illegal oil exports between 2014 and 2018.[/size]
    [size=45]The Iraqi oil minister and his Turkish counterpart, at their meeting in Ankara, did not reach an agreement on the immediate resumption of oil exports through the Turkish port of Ceyhan, but they agreed to hold more talks in the future.[/size]
    [size=45]An Iraqi Oil Ministry official familiar with oil export operations from the north of the country told Reuters on Tuesday that the Turkish Energy Ministry informed the state-owned Iraqi Oil Marketing Company (SOMO) last month that it needed more time to verify the technical feasibility of resuming pumping through the pipeline.[/size]
    [size=45]He continued, "The Turkish Energy Ministry told SOMO last month that it needed more time to examine and evaluate the pipeline and crude oil tanks in Ceyhan to ensure that they were not damaged by the earthquake that struck Turkey."[/size]
    [size=45]Officials in the Iraqi energy sector told the agency that the visit of the Iraqi oil minister aims to reach common ground with Turkey to agree on a clear date for the resumption of oil exports.[/size]
    [size=45]An oil ministry official told Reuters: “It is not easy to reach an agreement soon and we have many thorny issues ahead of us. Turkey has demands and conditions that require further talks to allow the resumption of oil flows.[/size]
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