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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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    Kurdistan Democratic Party: Resuming the export of the region's oil in the near future

    Rocky
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    Kurdistan Democratic Party: Resuming the export of the region's oil in the near future Empty Kurdistan Democratic Party: Resuming the export of the region's oil in the near future

    Post by Rocky Mon 13 May 2024, 4:24 am

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    [size=52]Kurdistan Democratic Party: Resuming the export of the region's oil in the near future[/size]

    [size=45]The Kurdistan Democratic Party, led by Masoud Barzani, confirmed yesterday, Sunday, that the resumption of exports of the region’s oil via the Turkish Ceyhan pipeline is imminent.[/size]
    [size=45]The party’s representative, Mahma Khalil, said in an interview with (Al-Mada) that “the disruption of oil exports from Kurdistan fields comes because the Turkish side has not completed its technical preparations.”[/size]
    [size=45]He added, "The export of Kurdish oil is imminent after the completion of the necessary preparations between the governments of the center and the region."[/size]
    [size=45]For his part, Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani revealed earlier that two committees had been formed with Kurdistan, one technical and the other legal, regarding the delivery of the region’s oil to the ministry in order to proceed with its export through the SOMO company.[/size]
    [size=45]Abdul Ghani said, “The region’s production currently amounts to 375,000 barrels, 46,000 barrels of which go to the operation of refineries, and the remainder is about 329,000 barrels that are supposed to be delivered to the Ministry of Oil in the federal government, so that these quantities can be exported through the SOMO company,” pointing out that “two committees have been formed.” With the region, one is technical and the other is legal, to proceed with the completion of the dialogues for the purpose of resolving the problems once and for all regarding the delivery of the region’s oil to our ministry to be exported through SOMO.”[/size]
    [size=45]Last week, a member of the Patriotic Union of Kurdistan, Mahmoud Khoshnaw, said that resuming the export of Kurdish oil involves three options, while he explained the possibility of dispensing with oil production companies operating in Kurdistan.[/size]
    [size=45]Khoshnaw said, in an interview, followed by Al-Mada, that “it is difficult for oil exports to resume through the Kurdistan region to the port of Ceyhan without ending the disputes related to production and transportation costs between the Ministry of Oil and the producing companies in the region.”[/size]
    [size=45]He added, “The costs of production and transportation that were determined within the budget law in the region differ from those in the federal government,” adding that “there are a number of options to resolve the oil export crisis, one of which represents an agreement with oil producing companies and the Ministry of Oil on the costs specified in the budget law.” ».[/size]
    [size=45]Khoshnaw continued, “The other option is to amend the budget law, and this will take place after the Iraqi Ministry of Oil submits a proposal to the Council of Ministers that includes its agreement with the oil companies on a specific price, after which a new price will be determined within the budget law,” noting that “the federal government will be able to Amending the budget law to allow it to deal with oil companies operating in the region according to the new agreed-upon amount.[/size]
    [size=45]He continued, "There is a third option, which is for the government to go with the companies to amend the contracts concluded from the ground up," explaining that "talk about dispensing with these companies will raise the debt ceiling on the regional government and thus will cast a shadow on the federal government."[/size]
    [size=45]The closure of the Turkish Ceyhan pipeline has cut off nearly half a million barrels of crude oil from global markets.[/size]
    [size=45]Turkey had stopped flows on the pipeline that transports oil from the Kurdistan region of Iraq to the Turkish port of Ceyhan on the Mediterranean Sea in March 2023 after an arbitration court ordered it to pay about one billion and 500 million dollars in compensation to Iraq for transporting oil without Baghdad’s approval.[/size]
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