POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]
[size=52]“Pending points” for the resumption of Kurdistan oil exports... Expectations that it will flow at half capacity[/size]
[size=45][You must be registered and logged in to see this image.]
2023-11-29
A website specializing in maritime shipping news revealed today, Wednesday, the possibility of oil flowing in the pipeline between the Kurdistan Region of Iraq and Turkey after its closure months ago, while indicating that there is a need to settle a group of political and commercial issues and address obstacles in this regard. It is likely to resume Exports at half of its recorded production capacity during the next month.[/size]
[size=45]The Hellenic Shipping website said in a report, “There is a long history of conflict over control of oil production, exports, and revenues between the Iraqi authorities and the Kurdistan Regional Government,” noting that the oil pipeline between Kirkuk and the port of Ceyhan was a pivotal part of this conflict.[/size]
[size=45]The report recalled part of the history of this issue, saying, “An agreement was reached between Turkey and Iraq to extend a pipeline from the Kirkuk fields to the port of Ceyhan on the Mediterranean Sea in 1973. This line consisted of two pipes with a diameter of 40 inches and 46 inches, and the first pipeline was operated.” In 1977, while the second line was operated a decade later, but the line was damaged and neglected.[/size]
[size=45]The report stated that “the year 2010 witnessed the signing of an amendment to the original agreement by both sides requiring the remaining pipeline to be used for transporting, loading and storing Iraqi crude oil.” He added, “The second pipeline was not ready for work, and the agreement temporarily suspended guarantees that Iraq would pump the minimum amount of oil through the pipeline network.”[/size]
[size=45]After asking about the reason for closing the pipeline, the report said, “In 2013, the Kurdistan Regional Government activated the abandoned 40-inch-diameter pipeline, and then began exporting oil through it from the Khurmala Dom, Tauki, and Sheikhan fields under its control, which raised the objection of the federal government.” Considering that the region does not have the right to export its oil through Turkey and that this constitutes a violation of the terms of the original agreement, which was the beginning of a legal battle that lasted 9 years between Baghdad and Ankara.”[/size]
[size=45]The report continued, “The International Court of Arbitration in Paris ruled in March 2023, in favor of the federal government, and Ankara recognized the ruling and closed the pipeline immediately. As a result, the local storage capacity in Kurdistan was completely completed, forcing the operating companies to reduce production in light of saturation.” Local market".[/size]
[size=45]The report stated that “the significant decline in oil production imposed unprecedented pressure on the financial resources of the regional government, which agreed in April that oil sales from fields under its control would be carried out by the Iraqi government oil marketing company, SOMO, provided that The financial proceeds are in a private bank account controlled by the Kurds and exposed to the federal government.”[/size]
[size=45]The report continued, “In June, a new law was issued that significantly limits the region’s control over oil sales revenues, and forced Erbil to deliver 400,000 barrels per day of oil to Baghdad in exchange for a share of the federal budget, which the regional government agreed to.” Partially reluctantly, it initially delivered about 50,000 barrels per day, and it increased by August to reach 200,000 barrels per day.[/size]
[size=45]As for the Iraqi government, according to the report, for its part, it agreed to “a limited temporary funding for a period of three months for the region worth 538 million US dollars, which is enough to pay the salaries of public sector employees, but the main issues remained unresolved.”[/size]
[size=45]What is the situation now?[/size]
[size=45]The report stated that the recent discussions between SOMO, the Kurdistan Regional Government, and the Turkish state pipeline company, Botash, had achieved “some progress towards restarting the pipeline,” noting that “the issues addressed in the negotiations dealt with pipeline fees and quality.” The amount of oil exports, the minimum productivity, and re-exports.”[/size]
[size=45]The report pointed out that “in theory, it is now possible to begin allowing oil to flow through the pipeline again, but for this to be achieved, it is necessary to settle a number of political and commercial issues.”[/size]
[size=45]The report continued, “SOMO must first sign purchase agreements with oil traders who previously purchased crude from the region’s fields (although even without these agreements, SOMO can still resume exports and sell spot shipments).”[/size]
[size=45]Secondly, the report said, “Legal issues between Ankara and Baghdad must be addressed and future terms and tariffs for the pipeline must be agreed.”[/size]
[size=45]Thirdly, the report pointed out that “an agreement must be reached regarding how the federal government will pay the regional government’s revenues from oil exported through the pipeline.”[/size]
[size=45]The report indicated that “Estimates of the Kurdistan Oil Industry Union speak of a loss of $7 billion in export revenues since the closure of the pipeline in March 2023.”[/size]
[size=45]What happens later?[/size]
[size=45]The report quoted official sources as saying that “Turkey, after retracting the measures it was forced to implement for technical reasons, and decided to reopen the pipeline, can now begin imposing fees on the Iraqi government for pipeline tariffs under the terms of the 2010 amendment.”[/size]
[size=45]He explained, “The total customs duties will reach about 25 million dollars per month, which creates a financial incentive for Baghdad to settle competing compensation claims with Turkey, resolve budget problems, share revenues with the Kurdistan Regional Government, and resume oil exports, as estimates indicate that the federal government incurs more than One million dollars in fines for not fulfilling its obligations.”[/size]
[size=45]The report of the website specialized in maritime shipping concluded by saying, “It is believed that the pipeline can return to work at half of its production capacity recorded in January 2023, or about 500,000 barrels per day, including 130,000 barrels per day coming from the Khurmala field and another 100,000 barrels per day.” Of the fields operated by the North Oil Company, it is expected that oil companies will hope to obtain clearer guarantees regarding payments.”[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]“Pending points” for the resumption of Kurdistan oil exports... Expectations that it will flow at half capacity[/size]
[size=45][You must be registered and logged in to see this image.]
2023-11-29
A website specializing in maritime shipping news revealed today, Wednesday, the possibility of oil flowing in the pipeline between the Kurdistan Region of Iraq and Turkey after its closure months ago, while indicating that there is a need to settle a group of political and commercial issues and address obstacles in this regard. It is likely to resume Exports at half of its recorded production capacity during the next month.[/size]
[size=45]The Hellenic Shipping website said in a report, “There is a long history of conflict over control of oil production, exports, and revenues between the Iraqi authorities and the Kurdistan Regional Government,” noting that the oil pipeline between Kirkuk and the port of Ceyhan was a pivotal part of this conflict.[/size]
[size=45]The report recalled part of the history of this issue, saying, “An agreement was reached between Turkey and Iraq to extend a pipeline from the Kirkuk fields to the port of Ceyhan on the Mediterranean Sea in 1973. This line consisted of two pipes with a diameter of 40 inches and 46 inches, and the first pipeline was operated.” In 1977, while the second line was operated a decade later, but the line was damaged and neglected.[/size]
[size=45]The report stated that “the year 2010 witnessed the signing of an amendment to the original agreement by both sides requiring the remaining pipeline to be used for transporting, loading and storing Iraqi crude oil.” He added, “The second pipeline was not ready for work, and the agreement temporarily suspended guarantees that Iraq would pump the minimum amount of oil through the pipeline network.”[/size]
[size=45]After asking about the reason for closing the pipeline, the report said, “In 2013, the Kurdistan Regional Government activated the abandoned 40-inch-diameter pipeline, and then began exporting oil through it from the Khurmala Dom, Tauki, and Sheikhan fields under its control, which raised the objection of the federal government.” Considering that the region does not have the right to export its oil through Turkey and that this constitutes a violation of the terms of the original agreement, which was the beginning of a legal battle that lasted 9 years between Baghdad and Ankara.”[/size]
[size=45]The report continued, “The International Court of Arbitration in Paris ruled in March 2023, in favor of the federal government, and Ankara recognized the ruling and closed the pipeline immediately. As a result, the local storage capacity in Kurdistan was completely completed, forcing the operating companies to reduce production in light of saturation.” Local market".[/size]
[size=45]The report stated that “the significant decline in oil production imposed unprecedented pressure on the financial resources of the regional government, which agreed in April that oil sales from fields under its control would be carried out by the Iraqi government oil marketing company, SOMO, provided that The financial proceeds are in a private bank account controlled by the Kurds and exposed to the federal government.”[/size]
[size=45]The report continued, “In June, a new law was issued that significantly limits the region’s control over oil sales revenues, and forced Erbil to deliver 400,000 barrels per day of oil to Baghdad in exchange for a share of the federal budget, which the regional government agreed to.” Partially reluctantly, it initially delivered about 50,000 barrels per day, and it increased by August to reach 200,000 barrels per day.[/size]
[size=45]As for the Iraqi government, according to the report, for its part, it agreed to “a limited temporary funding for a period of three months for the region worth 538 million US dollars, which is enough to pay the salaries of public sector employees, but the main issues remained unresolved.”[/size]
[size=45]What is the situation now?[/size]
[size=45]The report stated that the recent discussions between SOMO, the Kurdistan Regional Government, and the Turkish state pipeline company, Botash, had achieved “some progress towards restarting the pipeline,” noting that “the issues addressed in the negotiations dealt with pipeline fees and quality.” The amount of oil exports, the minimum productivity, and re-exports.”[/size]
[size=45]The report pointed out that “in theory, it is now possible to begin allowing oil to flow through the pipeline again, but for this to be achieved, it is necessary to settle a number of political and commercial issues.”[/size]
[size=45]The report continued, “SOMO must first sign purchase agreements with oil traders who previously purchased crude from the region’s fields (although even without these agreements, SOMO can still resume exports and sell spot shipments).”[/size]
[size=45]Secondly, the report said, “Legal issues between Ankara and Baghdad must be addressed and future terms and tariffs for the pipeline must be agreed.”[/size]
[size=45]Thirdly, the report pointed out that “an agreement must be reached regarding how the federal government will pay the regional government’s revenues from oil exported through the pipeline.”[/size]
[size=45]The report indicated that “Estimates of the Kurdistan Oil Industry Union speak of a loss of $7 billion in export revenues since the closure of the pipeline in March 2023.”[/size]
[size=45]What happens later?[/size]
[size=45]The report quoted official sources as saying that “Turkey, after retracting the measures it was forced to implement for technical reasons, and decided to reopen the pipeline, can now begin imposing fees on the Iraqi government for pipeline tariffs under the terms of the 2010 amendment.”[/size]
[size=45]He explained, “The total customs duties will reach about 25 million dollars per month, which creates a financial incentive for Baghdad to settle competing compensation claims with Turkey, resolve budget problems, share revenues with the Kurdistan Regional Government, and resume oil exports, as estimates indicate that the federal government incurs more than One million dollars in fines for not fulfilling its obligations.”[/size]
[size=45]The report of the website specialized in maritime shipping concluded by saying, “It is believed that the pipeline can return to work at half of its production capacity recorded in January 2023, or about 500,000 barrels per day, including 130,000 barrels per day coming from the Khurmala field and another 100,000 barrels per day.” Of the fields operated by the North Oil Company, it is expected that oil companies will hope to obtain clearer guarantees regarding payments.”[/size]
[size=45][You must be registered and logged in to see this link.]
Today at 3:32 pm by Rocky
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
Today at 3:26 pm by Rocky
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
Today at 3:25 pm by Rocky
» Electricity: The government provides energy at subsidized prices for (4) categories
Today at 3:24 pm by Rocky
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
Today at 3:22 pm by Rocky
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
Today at 3:21 pm by Rocky
» Basra Council emphasizes work to qualify young people and place them in the labor market
Today at 3:19 pm by Rocky
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
Today at 3:17 pm by Rocky
» Trade launches operations to lift the ban on the ration card next to Rusafa
Today at 3:16 pm by Rocky
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
Today at 7:00 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:57 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:55 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Today at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Today at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Today at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Today at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Today at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Today at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Today at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Today at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Today at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Today at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Today at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Today at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Today at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Today at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Today at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Today at 5:23 am by Rocky
» Parliamentary Agriculture accuses Kurdistan of harming the farmers of the center and south
Today at 5:22 am by Rocky
» Al-Sudani confirms Iraq's readiness to host the Arab Network conference
Today at 5:21 am by Rocky
» Nechirvan Barzani calls on the Iraqi government to allocate a budget to confront climate change
Today at 5:20 am by Rocky
» “Iraq is in danger.” Political warnings against ending the work of the UN mission
Today at 5:19 am by Rocky
» The Iraqi Interior Minister announces the signing of a security cooperation memorandum with Syria
Today at 5:17 am by Rocky
» The Minister of Oil told “Al-Iqtisad News”: The 5th and 6th rounds will add 3 Mqmq of gas to Iraq’s
Today at 5:16 am by Rocky
» Economist: Tax revenues from the private sector should be 4 trillion dinars annually
Today at 5:14 am by Rocky
» The Real Estate Bank calls on the Iraqi Central Bank to determine a plan to allocate a new initiativ
Today at 5:13 am by Rocky
» More than one billion and 400 million dollars...CBI sales within a week
Today at 5:12 am by Rocky
» Oil: Iraq achieved self-sufficiency in liquid gas and began exporting the surplus
Today at 5:10 am by Rocky
» Iraq begins exporting liquid gas
Today at 5:09 am by Rocky
» The Cabinet Secretariat sets to Al-Iqtisad News the completion date for the Chinese agreement school
Today at 5:09 am by Rocky
» Securities: The most recent law of the Authority in the Arab and regional countries
Today at 5:07 am by Rocky
» A European desire to strengthen security and economic cooperation with Baghdad
Today at 5:06 am by Rocky
» The close selection of a person for the position of Speaker of Parliament
Today at 5:05 am by Rocky
» Parliamentary law excludes the exchange of penalties for cash amounts
Today at 5:04 am by Rocky
» An agreement with Italy to finance industrial projects
Today at 5:02 am by Rocky
» The Najaf Chamber of Commerce signs a “memorandum of understanding” with its Thai counterpart
Today at 5:01 am by Rocky
» Baghdad, Arab Forum
Today at 5:00 am by Rocky
» Specialists: Economic integration and job opportunities await development
Today at 4:59 am by Rocky
» The President of the Republic, Nechirvan and Barzani stress the necessity of coordinating efforts be
Today at 4:57 am by Rocky
» The Judicial Institute announces the names of those accepted for the 48th and 49th sessions
Today at 4:56 am by Rocky
» Today's newspapers are interested in launching the fifth licensing supplement rounds and the sixth l
Today at 4:55 am by Rocky
» Al-Sudani receives the Secretary-General of the Arab Network for National Human Rights Institutions
Today at 4:53 am by Rocky
» Trade participates in the meetings of the Economic and Social Council at the level of senior officia
Today at 4:52 am by Rocky
» The Minister of Transport discusses with the Tunisian Minister of Foreign Affairs and Immigration wa
Today at 4:50 am by Rocky
» Iraq recorded an increase in its oil exports to the United States last week
Today at 4:49 am by Rocky
» It is governed by three dimensions.. Parliament talks about a strategic priority for Iraqi national
Today at 4:48 am by Rocky
» To what extent do Arab countries influence politically Iraq? It has become more independent
Today at 4:46 am by Rocky
» The Iranian ambassador in Baghdad: Iraq has paid its debts, and the security agreement includes thre
Today at 4:45 am by Rocky
» Dollar exchange rates decline slightly on the Baghdad Stock Exchange
Today at 4:44 am by Rocky
» China has 18% of the fields in the two new rounds, and 11 countries share the remainder
Today at 4:43 am by Rocky
» On the table...a proposal for the Kurdistan oil crisis and an effort to conclude a similar agreement
Today at 4:42 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 4:40 am by Rocky
» 6 Chinese companies are among the winners of developing Iraqi oil and gas fields
Today at 4:38 am by Rocky
» Baghdad gives UNAMI the end of 2025 to leave the country after fiery briefings
Today at 4:37 am by Rocky
» Dhi Qar clarifies: The quarry burying radioactive materials is regular and does not pose a danger
Today at 4:36 am by Rocky
» Al-Sudani: There are 64 lagging projects in Babylon
Today at 4:34 am by Rocky
» The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i
Today at 4:34 am by Rocky
» 90 billion dinars were recovered from social protection violators
Today at 4:32 am by Rocky
» Iraq seeks to increase its oil reserves to more than 160 billion barrels
Today at 4:31 am by Rocky
» After keeping the numbers secret... Did the rain increase Iraq's water reserves by 120%?
Today at 4:30 am by Rocky
» In the first quarter of 2024.. Iran will displace Iraq and become the second largest producer in OPE
Today at 4:28 am by Rocky
» Iraqi oil exports to Jordan stopped 20 days ago
Today at 4:27 am by Rocky
» Iraq and Syria sign a memorandum of security cooperation in several fields
Today at 4:25 am by Rocky
» Parliament recommends stopping electronic schools in Iraq
Today at 4:24 am by Rocky
» Parliamentary law rules out passing a law replacing penalties with sums of money
Today at 4:22 am by Rocky
» After a rare meeting... sources talk about Al-Sadr's future in political life in Iraq
Today at 4:21 am by Rocky
» The President of the Republic warns of climate change and its threat to food security and future gen
Today at 4:20 am by Rocky
» The Iranian ambassador to Iraq talks about negotiations for the withdrawal of American forces and Tu
Today at 4:19 am by Rocky
» Deputy: Iraq represents an important factor in the stability of the global oil market
Today at 4:16 am by Rocky
» Transportation: The Iraqi-Turkish technical committees continue to fulfill the requirements for impl
Today at 4:15 am by Rocky
» Economic: Raising the interest rate will reduce real estate prices
Yesterday at 7:20 am by Rocky
» Did Barzani agree in Tehran to end the presence of Iranian groups in Kurdistan? - urgent
Yesterday at 7:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Yesterday at 7:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Yesterday at 7:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Yesterday at 7:10 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Yesterday at 5:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Yesterday at 5:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Yesterday at 5:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Yesterday at 5:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Yesterday at 5:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Yesterday at 5:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Yesterday at 5:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Yesterday at 5:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Yesterday at 5:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Yesterday at 5:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Yesterday at 5:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Yesterday at 5:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Yesterday at 4:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Yesterday at 4:57 am by Rocky