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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

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    Oil export crisis.. Ankara and Erbil are “hiding” behind foreign companies that are “fighting” Baghd

    Rocky
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    Oil export crisis.. Ankara and Erbil are “hiding” behind foreign companies that are “fighting” Baghd Empty Oil export crisis.. Ankara and Erbil are “hiding” behind foreign companies that are “fighting” Baghd

    Post by Rocky Mon 12 Feb 2024, 5:00 am

    Oil export crisis.. Ankara and Erbil are “hiding” behind foreign companies that are “fighting” Baghdad
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    Baghdad today - Erbil
    Today, Monday (February 12, 2024), the researcher for economic affairs in the Kurdistan region, Jawad Malikshahi, reviewed three parties and files that are still obstructing the file of resuming oil exports from Iraqi Kurdistan abroad through the Turkish port of Ceyhan.
    Malakshahi said in an interview with “Baghdad Today” that “the oil export file is a thorny issue and its problems must be solved legally and constitutionally,” noting that “for example, there is the issue of the cost of extraction according to the contracts signed by the Ministry of Natural Resources in the region with the producing companies, and there is The cost of transporting crude oil through the pipeline extending from the region to the Turkish port of Ceyhan.”
    He pointed to "the issue of determining a fine of about one billion dollars paid by the Turkish side to the Iraqi side due to committing a legal violation in the export process," indicating that "all of these matters need legal and constitutional solutions, and therefore the contracts signed should be reconsidered so that the region can re-pump oil to global markets." ".
    Malakshahi added, "In principle, the three parties, Iraq, Turkey, and the Kurdistan region, are affected by the cessation of exports and are seeking in various ways to find radical solutions to it in order for exports to resume," considering that "Turkey has been procrastinating for about a year in order not to pay the fine imposed on it by the Paris Club, and Baghdad is also seeking To discuss with companies and seek to sign new contracts with producing companies in the region, since the region’s contracts are for partnership and the federal government’s contracts are with international oil companies for service, so Baghdad is seeking to sign service contracts with producing companies in the region, as well as agreeing with the Turkish side on the price of transportation from Iraq to Turkey.” 
    He continued: “As for the Kurdish side, it wants the agreement to be concluded as soon as possible and exports to resume, as it is also affected by the cessation of exports, because the cessation of wells from extracting causes damage to them in terms of the technical aspect and the quantity of production, in addition to leaving about a thousand workers from the Kurdistan region without work who were working.” In the oil sector, they are now unemployed.”
    The economic expert pointed out that “the efforts of the three parties are continuing, and I believe that most of the problems have been resolved, except for some technical matters and the issue of the Turkish judicial fine for Iraq. This is something that the two sides can agree on and resolve in one way or another, and then resume the export process, which is in the interest of both governments.” Federal Republic, the Kurdistan Region, and Turkey.
    In March 2023, Turkey stopped importing oil from the Kurdistan region in northern Iraq, after an international arbitration panel ruled in favor of Iraq in a dispute over an issue related to the export of the region’s oil between Baghdad and Ankara, according to the Iraqi Ministry of Oil.
    This dispute dates back to the year 2014, when Baghdad filed a lawsuit against its neighbor Turkey before the arbitration panel, objecting to Ankara’s announcement to export Iraqi Kurdistan region’s oil to global markets without the permission of the Iraqi government.
    Despite Baghdad's opposition, Erbil has been exporting oil via Türkiye. The region's export rate is about 450 thousand barrels per day.
    According to the Iraqi Ministry of Oil, the ruling issued by the international arbitration panel “obligates all parties to respect international agreements and conventions in this regard” and confirms that “the Ministry of Oil, through the Iraqi Oil Marketing Company (SOMO), is the only body authorized to manage export operations through the Turkish port of Ceyhan.”
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