International oil companies are optimistic about the reopening of the Ceyhan pipeline with Sudanese’

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[size=52]International oil companies are optimistic about the reopening of the Ceyhan pipeline with Sudanese’s visit to Washington[/size]

[size=45]Translated by / Hamed Ahmed[/size]
[size=45]The Association of International Oil Companies, APIKUR, operating in the Kurdistan region’s oil fields, expressed in a statement yesterday its optimism that the expected meeting of the Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, with US President Joe Biden tomorrow, Monday, in Washington, constitutes a very important opportunity to break the stalemate that is hindering the resumption of... Oil exports through the Ceyhan pipeline,[/size]
[size=45]While a high-ranking official in the US State Department stated that the agenda of the meeting will include several security and economic axes, including a focus on the importance of developing relations between Baghdad and Erbil, and that progress has been made in discussions to reopen the pipeline.[/size]
[size=45]The spokesman for the APICOR Association of Oil Companies, Miles Caggins, said in a statement, “The members of the APICOR group of companies look forward to finally reaching a joint decision that will benefit both the Baghdad central government, the Kurdistan Regional Government, and international oil companies to resume oil exports through the Ceyhan export pipeline between Iraq and Turkey.” “.[/size]
[size=45]A judicial decision was issued about a year ago by the International Chamber of Commerce in Paris ruling that Ankara should pay compensation to Baghdad for oil exports through the pipeline due to the closure of the pipeline. Although Turkey has recently expressed its willingness to resume exports, the pipeline is still closed, causing huge financial losses. of export revenues to Iraq while losing opportunities to achieve economic growth.[/size]
[size=45]According to the Epicor group of companies, the absence of an agreement on resuming exports over the course of a year has cost Iraq more than $14.5 billion in oil export revenues and deprived the region of employment opportunities and vital investment signs.[/size]
[size=45]Representatives of the Baghdad government, the Kurdistan Regional Government, and international oil companies operating in the region, including members of the APICOR group, in the hope of reaching a solution, met in Baghdad for the period from 7 to 9 January 2024. While no firm formal proposals have been reached since then, the APICOR group of companies remains open to further discussions.[/size]
[size=45]The upcoming meeting at the White House is seen as an opportunity to stimulate further negotiations in this area and push the parties concerned towards finding a quick solution. The APICOR Group stresses the importance of resuming exports through the Ceyhan pipeline between Iraq and Turkey in order to achieve stability and benefit in the oil and gas sector for both Baghdad and the Kurdistan region, which would open the door wide to the foreign investments required in this sector.[/size]
[size=45]The group of international companies states that the recent oil exports of Iraqi crude oil to the United States during the month of March, which were at a rate of 500 thousand barrels per day, did not include oil produced from the Kurdistan region due to the closure of the pipeline, noting that this confirms the necessity of reaching a solution, taking into account Investments by American companies in the region’s oil and gas fields amounting to more than $300 million.[/size]
[size=45]On the other hand, a high-ranking US State Department official revealed during a press briefing on Friday that the visit of the Iraqi Prime Minister, Muhammad Shia al-Sudani, to Washington this week will include several meetings with the President and US government officials, and it is an opportunity for the United States to talk about the future direction of our bilateral relations and build the relationship. On the basis of the comprehensive partnership of the Joint Strategic Framework Agreement between the United States and Iraq that was reached in 2008 and its expansion.[/size]
[size=45]The American official, who preferred to remain anonymous, added, “We want to advance our cooperation in several areas regarding energy, water, commercial investments, and American investments in Iraq, as well as talking about the private sector and banking reforms that we are working on, as well as cooperation in the field of developing investment opportunities and working in development projects.” “Services for the Iraqi people are part of the Sudanese Prime Minister’s working paper during his visit, and it is an opportunity for us to expand this mutual relationship in a comprehensive manner.”[/size]
[size=45]Regarding the emphasis on the need to develop relations between Baghdad and Erbil and possible discussions on the issue of reopening the Ceyhan pipeline for oil exports, the American official said, “We expect that there will be a discussion about the necessity of achieving good relations between Erbil and Baghdad, and it is important that there be a good relationship in the interest of the security and stability of sovereignty.” Iraq. Therefore, there will be discussions about the export pipeline, and progress has been achieved in the discussions in this regard in attempts to reopen the pipeline, and this will achieve a recovery in the field of energy.”[/size]
[size=45]The Iraqi Prime Minister's Media Office said in a statement that Al-Sudani left Baghdad on Saturday, heading to Washington on an official visit at the invitation of US President Joe Biden.[/size]
[size=45]• From the K24 news website and the US State Department[/size]
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