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Neno's Place Established in 2006 as a Community of Reality


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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


    A former Kurdish parliamentarian: Not a single dinar has entered the region from oil exports since l

    Rocky
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    A former Kurdish parliamentarian: Not a single dinar has entered the region from oil exports since l Empty A former Kurdish parliamentarian: Not a single dinar has entered the region from oil exports since l

    Post by Rocky Tue 10 Oct 2023, 3:05 pm

    A former Kurdish parliamentarian: Not a single dinar has entered the region from oil exports since last April
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    Baghdad today - Kurdistan
    Former member of the Finance Committee in the Kurdistan Regional Parliament, Sabah Hassan, confirmed today, Tuesday (October 10, 2023), that the region does not benefit from the rise in the price of oil in global markets.
    Hassan said in an interview with "Baghdad Today" that "since April of this year, not a single dinar of its oil has entered the region, because the export has stopped based on a decision from the Paris Court and at the request of the Iraqi government."
    He added, "The region will remain not benefiting from the rise in the price of oil, and will not benefit from it unless the oil and gas law is approved, which will solve all the legal problems and disputes between Baghdad and Erbil."
    Iraq had won an arbitration case filed before the arbitration panel 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 oil, amounting to 480 thousand barrels per day, was halted on March 25, and the stopped flows represent only about 0.5% of global oil supplies, without resuming until today, as indicators of damage and financial losses amounted to more than one billion dollars per month, at 33. One million dollars per day, calculating the average price of one barrel at 70 dollars, according to experts in the field of oil.
    According to the draft budget law for 2023, Iraq must export 3 million and 500 thousand barrels per day, including 400 thousand barrels from the region, at a price of $70 per barrel, and most of it is exported from the Turkish port via the pipeline that extends from Kirkuk in the north of the country to Ceyhan. in Turkey.
    The cessation of exports caused the region to lose half of its monthly revenues, as a result of which its economic crises worsened, and it also caused a “big problem” for its employees.
    Experts in the field of oil and economics believe that the federal government in Baghdad is the most affected by the continued cessation of the region’s oil exports through Turkish ports, because Baghdad will commit to paying the monthly salaries of Kurdistan employees, estimated at about half a billion US dollars, which were originally deducted from the revenues of the region’s oil share.
    The Iraqi government and the Kurdistan Regional Government had signed an agreement on the fourth of last April that stipulated that the region would export 400,000 barrels of oil per day through the National Oil Company “SOMO,” naming a representative of the region there as assistant to the head of the company, and opening a special bank account for the regional government to which it would be transferred. Oil imports are sold, provided that they are subject to the supervision of the Federal Office of Financial Supervision.
    Many observers were optimistic that this agreement would become a radical solution to settle the oil dispute that has been pending between the two sides for nearly 20 years, including what is related to the legislation of the oil and gas law, but it has not yet resulted in a resumption of oil exports to the region.
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