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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


    The Iraq-Turkey oil line has become very decisive after the Red Sea battles...an international repor

    Rocky
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    The Iraq-Turkey oil line has become very decisive after the Red Sea battles...an international repor Empty The Iraq-Turkey oil line has become very decisive after the Red Sea battles...an international repor

    Post by Rocky Thu 18 Jan 2024, 2:49 pm

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    Do we resume Kurdistan - Ceyhan?
    The Iraq-Turkey oil line has become very decisive after the Red Sea battles...an international report


     21:42

    964

    A report by an international research center based in London stated that the security developments taking place in the Middle East and the Mediterranean coasts make it imperative for Iraq to secure reliable ways to export oil, stressing that the safest route currently passes through Turkey, which makes it necessary to quickly resolve disputes over the oil export line. From the Kurdistan region.

    the details:

    According to the report of the “International Center for Development Studies” in London, which prepares research on the economies of Arab countries and the Middle East region, the crises that may not end quickly, in the Red Sea, and the procedures of international trade institutions, require Iraq to ensure guaranteed routes for oil supplies, especially since Many European countries have begun to accept the Iraqi product more than ever since the outbreak of war in Ukraine.
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    Iraq is in the storm of the global slowdown.. The halt of Erbil oil is not just a financial loss and political dispute


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    The International Center for Development Studies, in a report followed by the 964 Network:

    The longer the war in Gaza continues, the greater the risk of the war expanding. The border between Israel and Lebanon witnesses daily strikes, while American bases in both Iraq and Syria have been targeted numerous times.
    Risks related to maritime trade routes emerged with Yemen's entry into the confrontation, as the Houthis decided to target any ships that have a relationship with Israel or deal with its ports. The Tankers Authority called on all ships to avoid the Bab al-Mandab Strait at the southern end of the Red Sea.

    Iran confiscated a cargo of Iraqi oil

    These fears were increased by Iran's recent seizure of an oil tanker in the Gulf of Oman that was loaded with Iraqi oil and headed to Turkish ports via the Suez Canal.
    What is striking about this tanker is that it transports Iraqi oil to Turkey via a long, expensive and currently unsafe route, while the Iraqi-Turkish oil pipeline remains idle since March 2023.
    Iraq's loss as a result of this cessation to date has exceeded more than nine billion dollars. Turkey also loses fees for exporting Iraqi oil through its territory, to which are added today the costs of oil exported through the Gulf of Oman and the Red Sea.

    All routes are closed except Türkiye

    Baghdad's current options for exporting oil do not seem comfortable, as Iraq exports about 3.4 million barrels of oil per day, 85 percent of which is via Basra, while approximately 15 percent is exported through the Kurdistan region to Turkey and from there to global markets.
    Iraq also has an old pipeline to export oil through the Saudi port of Yanbu on the Red Sea, but the negotiations did not produce specific results.
    Earlier, Iraqi sources reported that Iraq is also studying the rehabilitation of the Kirkuk-Baniyas (Syria) pipeline, and there are ambitious plans to extend a pipeline through Jordan, but this requires quite a while.
    The option of exporting Iraqi oil through Turkish territory may seem most appropriate due to its proximity to European markets that need oil and gas in light of the war in Ukraine and Europe’s refusal to buy oil and gas from Russia.

    Note the Bulgarian demand for Iraq

    During the current month, Bulgaria, which last year was the fourth largest buyer of Russian oil, replaced Russian oil shipments with those from Kazakhstan, Tunisia, and Iraq. According to the data, Bulgaria bought 76 thousand tons of Basra Light oil this month.
    This clearly indicates the importance of the return of Kurdistan's oil exports to global markets, especially with the possibility of increasing production to one million barrels per day. It may also be appropriate to think about exporting quantities of central and southern Iraq's oil through the Kurdistan region.
    However, this matter collides with a number of obstacles, the first of which is the necessity of laying pipelines linking central and southern Iraqi fields with Turkish ports, which is considered expensive and requires time and large investments. The other factor relates to Turkey's position on this expansion and allowing Iraqi oil to pass through its ports in light of the continued halt of Kurdistan oil exports.

    Iraq's economy and the departure of American forces

    As Iraq seeks to increase its production to approximately 6 million barrels per day, thinking about expanding and diversifying export outlets is essential to achieving this goal.
    Iraq does not have a large capacity to store oil for long periods, so any future closures in the Strait of Hormuz or Bab al-Mandab will mean Iraq losing at least a quarter of a billion dollars per day.
    In the event of a disruption of revenues, the value of the Iraqi dinar will fall significantly, and this will lead to a significant rise in prices, with an almost complete cessation of trade movement that depends on external imports.
    As tensions continue to rise in the Middle East, Iraq will not be far from what is happening. Demands to remove coalition forces from Iraq at this time will be interpreted as a victory for Tehran and its allies over Washington.
    However, the government of Iraqi Prime Minister Muhammad Shia al-Sudani believes that the withdrawal of coalition forces will lead to easing tension in the region. Therefore, a bilateral committee was formed to determine arrangements for ending the mission of the US-led international coalition.
    The security factor may be the most prominent element in determining the fate of the Iraqi economy. The matter is not only related to exporting oil and gas, but also to providing appropriate conditions for foreign companies to increase production and with large projects such as Al-Faw port and achieving self-sufficiency in the field of food, as it requires large investments and advanced technologies that will not be provided in The shadow of the war atmosphere or Iraq's entry into the conflict game with one party rather than another.
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