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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 decision to “reduce exports”... “unplanned” production for Kurdistan will cost Baghdad half a bi

    Rocky
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    • Post n°1

    The decision to “reduce exports”... “unplanned” production for Kurdistan will cost Baghdad half a bi Empty The decision to “reduce exports”... “unplanned” production for Kurdistan will cost Baghdad half a bi

    Post by Rocky Tue 19 Mar 2024, 4:41 am

    [size=35][size=35]The decision to “reduce exports”... “unplanned” production for Kurdistan will cost Baghdad half a billion dollars per month[/size]
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    Economy

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    03-19-2024 | 04:08
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    Al-Sumaria News - Special

    During the past two months, international reports came with numbers proving Iraq’s non-compliance with the voluntary reduction ceiling that it set for the ceiling of its oil production to be 4 million barrels per day, as Iraq produced more than its share by about 200 thousand barrels per day, so that its production would be more or close to 4 .2 million barrels per day.


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    These increases came despite Iraq’s announcement of its commitment and support for OPEC’s voluntary reduction decisions in order to preserve oil prices in global markets. Al-Sumaria News had prepared an analytical report entitled “Iraq produces more than its oil share for the second month in a row... What does Kurdistan have to do with it?” Its conclusion was that there was no Iraq's commitment to its "word" to OPEC came due to the Kurdistan region's crude oil production rising to numbers that the federal government in Baghdad knew nothing about, making it outside the calculations.



    In confirmation of the analytical report of Al-Sumaria News, the Federal Ministry of Oil announced the existence of a link between the Kurdistan region’s production and Iraq’s non-commitment to the OPEC reduction, as the ministry indicated in a statement that “despite the reports received regarding the region’s production outside coordination and agreement with the federal government, and in order to address this only, the Ministry of Oil took the initiative to Reducing oil exports to a rate of “3,300 thousand barrels” per day for the coming months to absorb the increase recorded in Iraq for the past months of January and February.

    Accordingly, Iraq (except for Kurdistan) will reduce its production to 3.8 million barrels per day, of which it will export only 3.3 million barrels per day, while the remainder will go to refineries and refineries. Iraq also takes part of Kurdistan’s production and transfers it to refineries as well, as for the remainder of Kurdistan’s production. It goes to internal refineries in the region.

    After Iraq was exporting 3.5 million barrels per day in the past weeks and months, it will lose the export of 200,000 barrels per day, which means a loss of 16 million dollars per day, which will lead to a decline in Iraq’s monthly revenues and the loss of nearly half a billion dollars per month due to the Kurdistan region’s production at levels that it does not know about. Baghdad without prior coordination.
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