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[size=36]Iraqi Oil holds foreign companies responsible for the delay in oil exports from Kurdistan[/size]
Economy | 10:47 - 03/25/2024
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Mawazine News - Baghdad
The Iraqi Oil Ministry dismissed in a statement today, Monday, that it insists on resuming exports through the Iraqi-Turkish pipeline as soon as possible while adhering to the provisions of the constitution and the law, stressing that the federal government is the most affected by the cessation of exports.
The statement published by the Ministry and received by Mawazine News explained that the Turkish decision came “following the issuance of an international arbitration decision by the Paris Chamber of Commerce in favor of Iraq.”
She added that the refusal of foreign companies operating in the Kurdistan region to hand over their production to the regional government to be issued in accordance with the general budget law is one of the most important reasons for stopping exports, according to the Arab World News Agency.
She pointed out that the resumption of oil exports through the Iraqi-Turkish pipeline in a short period is possible if foreign companies deliver the oil in accordance with the law, explaining that the contracts between oil companies operating in the region and the Ministry of Natural Resources in the region “have not been approved by the federal government nor the Federal Ministry of Oil.” Absolutely, because it lacks a sound constitutional and legal basis.”
The Ministry stressed that failure to adhere to the general oil policy approved by the federal government endangers Iraq's reputation and its international obligations.
She said, "This ministry has previously officially confirmed the immediate resumption of exports in accordance with the law through the Iraqi-Turkish pipeline, with negotiations in parallel to reach a comprehensive, consensual solution in a way that achieves the public interest."
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