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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


    Minister of Natural Resources of Kurdistan: We do not have any problem with exporting oil via SOMO..

    Rocky
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    Minister of Natural Resources of Kurdistan: We do not have any problem with exporting oil via SOMO.. Empty Minister of Natural Resources of Kurdistan: We do not have any problem with exporting oil via SOMO..

    Post by Rocky Thu 07 Mar 2024, 6:28 am

    Minister of Natural Resources of Kurdistan: We do not have any problem with exporting oil via SOMO.. What about the Ceyhan line?

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    Economy News - Baghdad
    Acting Minister of Natural Resources Kamal Muhammad said on Thursday that the Kurdistan Regional Government has no problem with resuming crude exports through the National Oil Marketing Company "SOMO" and depositing the revenues generated from it in the Iraqi state treasury in exchange for securing the region's financial dues.
    Muhammad told a number of media outlets from Dohuk that the decision of the arbitration panel of the International Chamber of Commerce in Paris consists of 4 topics, namely: extraction, oil management, transportation and storage, and sale, indicating that “four of them we can say are supportive of the Kurdistan Region and stipulated that they are Of its powers, with the exception of the issue of selling oil, it is exclusively within the powers of the Federal Ministry of Oil, as exports are carried out through the “SOMO” company.
    He added that 80 percent of the decisions of the Paris Court were in favor of the Kurdistan Region, pointing out that "we have no problem with the issue of selling oil through the SOMO company, and that the revenues generated from it go to the Iraqi state treasury, but the rights and entitlements of the region must be secured in return for that." .
    The minister also confirmed that there is a problem related to the cost of extracting a barrel of oil, because there is a difference in cost pricing between the region and Baghdad, adding that: Iraq is spending billions on this process, while the region has invested through companies in this field.
    He went on to say, “At the beginning of this year, two committees were formed by Prime Minister Muhammad Shiaa Al-Sudani, one ministerial and the other parliamentary, and they reviewed the work of the 11 oil companies operating in the Kurdistan Region, indicating that the two committees reached a conviction regarding the cost of a barrel.
    Regarding the resumption of Kurdistan Region oil exports, the Acting Minister of Natural Resources said that the matter concerns the federal government, and we are ready to resume exports at any time.
    Turkey stopped exporting 450,000 barrels per day from the Kurdistan Region via the Iraqi-Turkish pipeline on March 25, 2023, after the International Chamber of Commerce in Paris issued its ruling in favor of Baghdad in an arbitration case.




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    Minister of Natural Resources of Kurdistan: We do not have any problem with exporting oil via SOMO.. Empty Kurdistan Minister: We have no problem with resuming the region’s oil exports through SOMO

    Post by Rocky Thu 07 Mar 2024, 6:34 am

    Kurdistan Minister: We have no problem with resuming the region’s oil exports through SOMO



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    2024-03-07 02:31
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    Shafaq News/ The Acting Minister of Natural Resources, Kamal Muhammad, stated on Thursday that the Kurdistan Regional Government has no problem with resuming crude exports through the National Oil Marketing Company “SOMO” and depositing the revenues generated from it in the Iraqi state treasury in exchange for securing the region’s financial dues.
    Muhammad told a number of media outlets in Dohuk that the decision of the arbitration panel of the International Chamber of Commerce in Paris consists of 4 topics, namely: extraction, oil management, transportation and storage, and sale, indicating that “four of them we can say are supportive of the Kurdistan Region and stipulated that they are Of its powers, with the exception of the issue of selling oil, it is exclusively within the powers of the Federal Ministry of Oil, as exports are carried out through the “SUMO” company.
    He added that 80 percent of the decisions of the Paris Court were in favor of the Kurdistan Region, pointing out that "we have no problem with the issue of selling oil through the SOMO company, and that the revenues generated from it go to the Iraqi state treasury, but the rights and entitlements of the region must be secured in return for that." .
    The minister also confirmed that there is a problem related to the cost of extracting a barrel of oil, because there is a difference in cost pricing between the region and Baghdad, adding that: Iraq is spending billions on this process, while the region has invested through companies in this field.
    He went on to say, “At the beginning of this year, two committees were formed by Prime Minister Muhammad Shia al-Sudani, one ministerial and the other parliamentary, and they reviewed the work of the 11 oil companies operating in the Kurdistan Region,” noting that the two committees reached a conviction regarding the cost of a barrel. .
    Regarding the resumption of Kurdistan Region oil exports, the Acting Minister of Natural Resources said that the matter concerns the federal government, and we are ready to resume exports at any time.
    Turkey stopped exporting 450,000 barrels per day from the Kurdistan Region via the Iraqi-Turkish pipeline on March 25, 2023, after the International Chamber of Commerce in Paris issued its ruling in favor of Baghdad in an arbitration case.
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