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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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    The region's oil companies call for dialogue to resume Ceyhan pipeline exports

    Rocky
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    The region's oil companies call for dialogue to resume Ceyhan pipeline exports Empty The region's oil companies call for dialogue to resume Ceyhan pipeline exports

    Post by Rocky Wed May 29, 2024 6:05 am

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    [size=52]The region's oil companies call for dialogue to resume Ceyhan pipeline exports[/size]

    [size=45]Translated by / Hamed Ahmed[/size]
    [size=45]The group of international oil companies in the fields of the Kurdistan region, known as APIKUR, called in a statement for the necessity of holding a tripartite dialogue that includes the government of Baghdad, the regional government and international oil companies to reach a solution that satisfies all parties aimed at resuming the region’s oil exports through the Ceyhan pipeline, which has passed. It was closed for more than a year, at a time when recent reports blaming it for obstructing the resumption of exports were refuted.[/size]
    [size=45]The Epicor group of companies responded in a statement on Monday to what was stated in recent press reports related to the continuing dilemma of stopping oil exports through the Iraqi-Turkish Ceyhan pipeline, refuting the validity of the allegations of those reports that stated that international oil companies are the cause of obstructing and delaying the resumption of oil exports due to their lack of flexibility. Its cooperation in negotiations to readjust the terms of its oil contracts reached a dead end.[/size]
    [size=45]In its latest statement, the Epicor Group reaffirmed the need to hold discussions and discussions between the central government in Baghdad, the Kurdistan Regional Government, and the group of international oil companies operating in the region to reach a comprehensive solution, noting that such discussions and negotiations have not taken place since the last discussions that took place between 7 and 9 September. January 2024.[/size]
    [size=45]A group of companies, Epicor, expressed its readiness to resume oil exports, provided that there are established agreements to guarantee the payment of export dues for the past and future period, with a direct payment mechanism and the preservation of commercial conditions. She stated that they are also open to the issue of amending the terms of the currently existing contracts if they are agreed upon by all parties concerned.[/size]
    [size=45]The spokesman for the Epicor group of companies for oil production, Miles Caggins, said: “The Epicor group of companies believes that the best way to reach solutions that contribute to the resumption of oil exports through the Iraq-Turkey pipeline, “Ceyhan,” is through conducting negotiations and a tripartite dialogue between... The Government of Baghdad, the Kurdistan Regional Government, and a group of international oil companies operating in the region. “The member companies of the Epicor Group stand ready to participate constructively in any dialogue of this kind.”[/size]
    [size=45]He added that the mission of the APICOR group of companies is to devote its efforts to show the Kurdistan region as an important attraction area for international oil and gas companies and an attractive area for service providers and investors. The group also aims to support the common interests of its members, serve as a unified voice towards concerned actors, and provide a platform for exchanging oil industry information and providing the best services.[/size]
    [size=45]Spokesman Caggins said that the statement of the Epicor group of companies confirms its pledge to facilitate a constructive dialogue and reach a solution to the dilemma to ensure the resumption of oil exports through the Ceyhan pipeline.[/size]
    [size=45]A press report was published on the Bloomberg Economic website last week, translated by (Al-Mada), in which it stated that Baghdad blames the stalemate that occurred by not resuming oil exports through the Ceyhan pipeline on the group of international oil companies operating in the region known as Epicor for its delay and refusal to amend the terms of its oil contracts. concluded with the region, more than a year after the closure of the pipeline in March 2023, and this caused losses in financial revenues from the export of more than 450 thousand barrels per day from the region’s fields throughout that period.[/size]
    [size=45]Bloomberg quoted Prime Minister Muhammad Shia al-Sudani as saying during a televised press conference that oil companies operating in the Kurdistan region refuse to amend their oil contracts with the region, and this has led to a dead end in the negotiations related to the resumption of oil exports from the region through the Ceyhan pipeline.[/size]
    [size=45]Exports of oil from the Kurdistan region’s fields via the Iraq-Turkey “Ceyhan” pipeline stopped on March 23, 2023, following the issuance of a ruling by the International Chamber of Commerce in Paris in favor of Baghdad against Turkey for facilitating oil exports from the region between 2014 and 2018 without the approval of the federal government, which resulted in... Turkey pays amounts owed to Iraq, according to the court’s decision, amounting to $1.5 billion, which Turkey refuses to implement.[/size]
    [size=45]The oil companies operating in the region, in an effort to put pressure on Baghdad, called in a letter sent to the US Congress in January of this year to intervene and take urgent action to help solve the problem of stopping oil exports from the Kurdistan region through the Ceyhan pipeline.[/size]
    [size=45]It is noteworthy that the chronic closure of the Ceyhan export pipeline may have caused huge losses to both Baghdad and Erbil, as it stopped exports of crude oil at a rate of 450 thousand barrels per day, which constitutes 0.5% of the global market’s supplies, amid conflicting demands between Ankara, Baghdad, Erbil, and the oil companies operating in the region. By obstructing the negotiations, as Baghdad insists on the need for international oil companies to negotiate to sign new contracts with the Iraqi Ministry of Oil.[/size]
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