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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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    Parliamentary Oil: Türkiye put forward 6 conditions for resuming oil exports from Iraq to Ceyhan

    Rocky
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    Parliamentary Oil: Türkiye put forward 6 conditions for resuming oil exports from Iraq to Ceyhan Empty Parliamentary Oil: Türkiye put forward 6 conditions for resuming oil exports from Iraq to Ceyhan

    Post by Rocky Sun 27 Aug 2023, 7:13 am

    [size=30]Parliamentary Oil: Türkiye put forward 6 conditions for resuming oil exports from Iraq to Ceyhan
    [ltr]2023.08.27 - 09:28[/ltr]
    [/size]
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    Baghdad - Nas  
    The Parliamentary Oil and Gas Committee stated that the Turkish delegation, which visited Iraq recently, proposed six conditions for resuming the export of crude through the port of Ceyhan, while specialists called for speeding up the settlement of differences in this file.  
      
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    A member of the Parliamentary Oil and Gas Committee, Sabah Sobhi, said in a statement to the official newspaper, followed by “Nass” on Sunday (August 27, 2023), that “the Turkish delegation’s visit to Iraq included a paper of basic conditions for negotiating the resumption of Iraqi oil through the Turkish port of Ceyhan, especially after the International Court’s decision to fine Turkey is one billion and 400 million dollars for its contribution to the sale of oil outside the company (SOMO).  
      
    And he indicated that "the Turkish delegation had previously visited Iraq and conducted rounds of technical negotiations, and there are a number of conditions with the Turkish Ministry of Energy talking about resuming the oil of the Kurdistan region and Kirkuk together through pipelines to the Turkish port of Ceyhan."  
      
    Sobhi explained, "The paper presented by the Turkish side included 6 basic conditions, including the costs of transporting a barrel of oil in pipelines, which is estimated at $13 per barrel, in addition to withdrawing the invitation submitted to the International Arbitration Court, which included compensation from the Turkish side to Iraq since 2018 to 2020".  
      
    He added, "These are basic conditions, and there are other conditions that include the dues of the Turkish oil company, which amount to $7 per barrel, as well as their claim for the oil agreement between the region and Turkey, indicating that all these ideas will be put on the negotiating table between the Turkish and Iraqi sides in order to resume oil." .  
      
    Sobhi believes that "the conditions are positive, especially since there are great economic pressures on the Turkish government, especially with regard to the currency rate and the general economy, and these pressures allow it to make concessions in order to benefit from the passage of the agreed amount of oil."

      

    Iraq had won an arbitration case that it filed before the Arbitration Board of the International Chamber of Commerce in Paris against Ankara regarding the export of crude oil from the Kurdistan region through the Turkish port of Ceyhan without referring to the Iraqi Oil Marketing Company "SOMO".  

    As a result of the decision, the export of Kurdistan's oil, amounting to 480 thousand barrels per day, stopped on March 25, and the stopped flows represent only about 0.5% of the global oil supply, without resuming until today, as indicators of damage and financial losses amounted to more than one billion dollars per month.   
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