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Oil: We seek to resume the export of Kurdistan Region oil as soon as possible
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Economy News - Baghdad
[rtl]A new round of negotiations is scheduled to be held in Baghdad between the Federal Ministry of Oil, the Ministry of Natural Resources and oil companies operating in the Kurdistan Region to discuss the resumption of oil exports.[/rtl]
[rtl]The previous round was held in Baghdad during the days of January 7-9.[/rtl]
[rtl]Undersecretary of the Ministry of Oil for Extraction Affairs, Bassem Muhammad, said that the ministry’s goal is to “amend” oil company contracts “in a way that secures the ministry’s strategy.”[/rtl]
[rtl]He added: "We will strive as soon as possible to resume oil exports" from the Kurdistan Region, noting that the work "is now under negotiation with the region and we hope to reach a common vision in the coming days."[/rtl]
[rtl]Although 2.4 trillion dinars were allocated for the cost of oil production in the Kurdistan Region in the draft budget law, which is equivalent to $12.5 per barrel, paying the amount is conditional on exporting 400,000 barrels of oil per day.[/rtl]
[rtl]For his part, member of the Parliamentary Finance Committee, Muhammad Nouri, confirmed in his response to a question regarding the losses of the Iraqi treasury due to the cessation of the export of oil from the Kurdistan Region, that the treasury “was never harmed.”[/rtl]
[rtl]He pointed out that Iraq "exports the same quantity without any defect and has other alternatives."[/rtl]
[rtl]Despite regional and international pressure, the resumption of exports has been pending for 14 months due to disputes over production costs and contracts.[/rtl]
[rtl]On May 28, the Federal Ministry of Oil invited the Ministry of Natural Resources and international companies operating fields located in the Kurdistan Region to hold a meeting in Baghdad “as soon as possible.”[/rtl]
[rtl]She explained in a statement that the purpose of the meeting is “to discuss and discuss the issue and reach an agreement to accelerate the restart of production and resume the export of oil produced through the Turkish port of Ceyhan and according to the quantities specified in the budget law.”[/rtl]
[rtl]The Kurdistan Oil Industry Association welcomed the invitation, while the Ministry of Natural Resources expressed its readiness to visit Baghdad “next week” to resolve problems related to the resumption of exports.[/rtl]
Views 69
Added 05/30/2024 - 10:45 AM
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Economy News - Baghdad
[rtl]A new round of negotiations is scheduled to be held in Baghdad between the Federal Ministry of Oil, the Ministry of Natural Resources and oil companies operating in the Kurdistan Region to discuss the resumption of oil exports.[/rtl]
[rtl]The previous round was held in Baghdad during the days of January 7-9.[/rtl]
[rtl]Undersecretary of the Ministry of Oil for Extraction Affairs, Bassem Muhammad, said that the ministry’s goal is to “amend” oil company contracts “in a way that secures the ministry’s strategy.”[/rtl]
[rtl]He added: "We will strive as soon as possible to resume oil exports" from the Kurdistan Region, noting that the work "is now under negotiation with the region and we hope to reach a common vision in the coming days."[/rtl]
[rtl]Although 2.4 trillion dinars were allocated for the cost of oil production in the Kurdistan Region in the draft budget law, which is equivalent to $12.5 per barrel, paying the amount is conditional on exporting 400,000 barrels of oil per day.[/rtl]
[rtl]For his part, member of the Parliamentary Finance Committee, Muhammad Nouri, confirmed in his response to a question regarding the losses of the Iraqi treasury due to the cessation of the export of oil from the Kurdistan Region, that the treasury “was never harmed.”[/rtl]
[rtl]He pointed out that Iraq "exports the same quantity without any defect and has other alternatives."[/rtl]
[rtl]Despite regional and international pressure, the resumption of exports has been pending for 14 months due to disputes over production costs and contracts.[/rtl]
[rtl]On May 28, the Federal Ministry of Oil invited the Ministry of Natural Resources and international companies operating fields located in the Kurdistan Region to hold a meeting in Baghdad “as soon as possible.”[/rtl]
[rtl]She explained in a statement that the purpose of the meeting is “to discuss and discuss the issue and reach an agreement to accelerate the restart of production and resume the export of oil produced through the Turkish port of Ceyhan and according to the quantities specified in the budget law.”[/rtl]
[rtl]The Kurdistan Oil Industry Association welcomed the invitation, while the Ministry of Natural Resources expressed its readiness to visit Baghdad “next week” to resolve problems related to the resumption of exports.[/rtl]
Views 69
Added 05/30/2024 - 10:45 AM
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