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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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    In detail...the problems of the oil file between Baghdad and Erbil

    Rocky
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    In detail...the problems of the oil file between Baghdad and Erbil Empty In detail...the problems of the oil file between Baghdad and Erbil

    Post by Rocky Wed 27 Mar 2024, 5:04 am

    In detail...the problems of the oil file between Baghdad and Erbil
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    Baghdad today - Sulaymaniyah
    Today, Wednesday (March 27, 2024), the oil expert and energy affairs advisor in the Patriotic Union of Kurdistan, Bahjat Ahmed, highlighted the most important problems of the oil file between Baghdad and Erbil.
    Ahmed said in an interview with “Baghdad Today” that “the lack of transparency in oil revenues and the high cost ratio at the expense of the region’s profit led to the inability to cover the budget, with the failure to establish an institution to manage the oil file and not allowing the establishment of the oil industry, and allocating all the oil produced for export.” Externally, that is one of the problems.”
    He added, "The legal conditions included in the region's contracts with oil companies for the benefit of the Kurdistan government must be implemented, and public oil companies listed in the oil and gas law of Kurdistan must be established. Also, the absence of a condition in the region's contracts about setting a ceiling for oil production has allowed the companies to put pressure on the fields." "For the purpose of producing the largest possible quantity in the shortest time, this caused damage to the majority of the fields."
    He explained, "There is publication of fictitious information about the region's oil reserves, so that oil companies can benefit from that information for the purpose of increasing the price of their shares on the global stock market without Kurdistan benefiting from it a single dollar."
    He stressed that, "Since 2013 and until oil exports stopped last year, companies produced 1.6 billion barrels of oil in all oil fields in the region, and those companies also invested about 12 to 14 billion dollars."
    In a sharp statement issued on Monday, the Ministry of Oil of the Federal Government in Baghdad held foreign companies operating in the oil sector in Kurdistan responsible for the cessation of exports through the Iraqi-Turkish pipeline since last March.
    It was Epicur; It is a coalition of 8 companies operating in the oil sector in Kurdistan and exporting 50 percent of its oil to Turkey. It claimed in its statement that the Iraqi government did not take important steps to open the Iraqi-Turkish oil pipeline and resume exporting Kurdistan region oil, despite Turkey’s announcement in October 2023. The line is ready.
    Kurdistan was exporting 450,000 barrels daily to Turkey, to secure the salaries of its employees and its financial revenues, due to the absence of an oil and gas law regulating the management of oil wealth in Iraq. However, the region's export of oil without referring to the federal government, and without its commitment to pay the value of 250,000 barrels to Baghdad in accordance with the federal budget law, caused deep problems between the two sides, the disastrous repercussions of which were reflected in the standard of living of the region's residents after the federal government refrained from paying salaries. Its employees since 2015, only after the region fulfilled its financial obligations to Baghdad.
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