Speaker of the Parliamentary Committee
Problems between the region and foreign companies delay the export of oil through Ceyhan
Baghdad – 964
The official spokesman for the Oil, Gas and Natural Resources Committee, Representative Ali Shaddad, revealed the real reasons for the delay in exporting crude oil through the Turkish port of Ceyhan, and attributed this to legal problems between the regional government and foreign oil companies.
Representative Shaddad said that the oil contracts concluded by the regional government with international oil companies contradict the Iraqi laws in force, and that the Federal Ministry of Oil is working to find a legal way out for these contracts before proceeding with the resumption of the export of crude oil through the Turkish port of Ceyhan.
[color:e0c4=rgba(0, 0, 0, 0)]Shaddad added that the contracts concluded by the Kurdistan Regional Government allow foreign companies to sell their share of crude oil in any way and at low prices, while the licensing round contracts stipulate the sale of Iraqi oil exclusively through the SOMO Oil Marketing Company at competitive prices to achieve high financial revenues. To the state, noting that the delay in not exporting oil from the northern fields reduced the country’s share agreed upon with OPEC, and caused Iraq to lose millions of cycles daily.
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