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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


    Report: Oil companies’ refusal to amend their contracts with the region will undermine efforts to re

    Rocky
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    Report: Oil companies’ refusal to amend their contracts with the region will undermine efforts to re Empty Report: Oil companies’ refusal to amend their contracts with the region will undermine efforts to re

    Post by Rocky Mon 20 May 2024, 3:05 pm

    Report: Oil companies’ refusal to amend their contracts with the region will undermine efforts to resume exports

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    Economy News - follow up
    The Oil Price website, concerned with oil affairs, said on Monday that oil companies operating in Kurdistan refuse to amend their contracts with the regional government, pointing out that their refusal will undermine efforts to re-export Kurdish oil.
    The British website wrote, "Oil companies operating in Kurdistan refuse to amend their contracts with the regional government, which will lead to a dead end in the talks about resuming oil exports from Kurdistan."
    The website quoted Prime Minister Muhammad Shiaa Al-Sudani as saying, “The companies refuse the amendment, so the process stops at this point.”
    The website added, “Crude oil exports from Kurdistan stopped more than a year ago, after they were closed in March 2023 due to a dispute over who should allow Kurdish exports,” pointing out that “this (impasse) came in the wake of the International Chamber of Commerce’s ruling regarding... A dispute between Turkey and Iraq over Kurdistan's oil, and at that time the International Criminal Court ruled in favor of Iraq, which said that Turkey should not allow Kurdish oil exports through the Iraq-Turkey pipeline and the Turkish port of Ceyhan without the approval of the Iraqi federal government.
    Earlier this year, the Iraqi Oil Ministry said that “foreign oil companies in Iraqi Kurdistan are partly responsible for the delay in resuming exports from the semi-autonomous region of OPEC’s second-largest producer.”
    Last year, Norwegian DNO, one of the six members of the Kurdistan Petroleum Industry Association (APIKUR), said that “international oil companies operating in Kurdistan will not produce oil for export until they have clarity on future arrears, payment and sales terms.”
    Foreign companies also called, earlier, on the US Congress to "take immediate measures to help resolve the problem of the cessation of crude oil exports from Kurdistan."
    Abikor wrote a letter to Congress in which he said, "Oil exports are the foundation of Iraq's economy, and all Iraqis will benefit when full production and global sales from the Kurdistan region resume."


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