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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    4 billion dollars losses to stop the export of Iraqi Kurdistan oil

    Rocky
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    • Post n°1

    4 billion dollars losses to stop the export of Iraqi Kurdistan oil Empty 4 billion dollars losses to stop the export of Iraqi Kurdistan oil

    Post by Rocky Fri Sep 01, 2023 8:29 pm

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    [size=52]4 billion dollars losses to stop the export of Iraqi Kurdistan oil[/size]

    [size=45]The Kurdistan Petroleum Industry Association said that the closure of the Iraqi oil export pipeline to Turkey's Mediterranean coast has cost producers and the Iraqi government about $4 billion in losses.[/size]
    [size=45]It is expected, according to the association, which includes a group of foreign and local companies working in the field of oil production, that the losses will continue despite the initial talks between the Iraqi and Turkish governments to solve the problem.[/size]
    [size=45]Producers in the northern region of Iraq have been forced to cut production since Turkey halted pipeline flows.[/size]
    [size=45]And an international arbitration court had ruled that Turkey should pay compensation to Iraq in the amount of $ 1.5 billion for unauthorized exports that left the region located in northern Iraq between 2014 and 2018.[/size]
    [size=45]The Kurdistan Petroleum Industry Association announced, on Thursday, that the member companies of the association will not resume work on producing and pumping oil from the region, even if the government reaches an agreement with the Turkish authorities.[/size]
    [size=45]The association said it "will not produce oil for export through pipelines until it is clear how international oil companies will be paid for their contractual entitlement to oil exported in the past and in the future."[/size]
    [size=45]The Association also called on the oil industries, the Kurdistan Regional Government of Iraq, to ​​“provide guarantees that fully protect the rights of companies, including financial rights,” stressing that they were “significantly affected” by the Kurdistan Regional Government’s violation of the official agreements governing oil export and the resulting suspensions of export. It caused “billions” of damage to companies, according to its description.[/size]
    [size=45]It is noteworthy that the companies' threats coincide with continuous announcements from the Iraqi and Turkish governments hinting that they are close to signing an agreement that guarantees the export of oil from the Kurdistan region of Iraq through the port of Ceyhan without problems.[/size]
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