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Parliamentary Oil and Gas Committee reveals reasons for continued halt in regional oil exports
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The Oil and Gas Committee of the Iraqi Parliament revealed, on Wednesday, the reasons behind the continued obstacles to resuming the export of Kurdistan Region oil through the Turkish Ceyhan pipeline.
The deputy head of the committee, Nehru Mahmoud, said in a statement followed by "Al-Eqtisad News", "Some political parties and some individuals in the federal Ministry of Oil are not serious about resuming the export of Kurdistan Region oil through the Turkish Ceyhan pipeline for many reasons."
Since the Kurdistan Region's oil exports stopped on 3/24/2024, the Federal Ministry of Oil has compensated for the region's oil, amounting to 400,000 barrels, from the southern governorates, to maintain the OPEC oil export ceiling, according to Mahmoud.
According to OPEC, Iraq has the right to export 3.5 million barrels of oil per day, which means that the region’s oil was compensated for by the southern provinces and did not affect Iraqi oil exports, according to the deputy head of the parliamentary committee.
Mahmoud explained that, "If an agreement is reached between the federal and regional governments to export Kurdistan oil, the federal government must reduce 400,000 barrels of southern oil in order to export it from the region's oil."
He pointed out that "the federal and regional governments have not yet reached the cost of producing one barrel of oil for the oil extraction companies in the Kurdistan Region, and this is another file that hinders the resumption of Kurdistan's oil exports."
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Added 08/07/2024 - 6:47 PM
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The Oil and Gas Committee of the Iraqi Parliament revealed, on Wednesday, the reasons behind the continued obstacles to resuming the export of Kurdistan Region oil through the Turkish Ceyhan pipeline.
The deputy head of the committee, Nehru Mahmoud, said in a statement followed by "Al-Eqtisad News", "Some political parties and some individuals in the federal Ministry of Oil are not serious about resuming the export of Kurdistan Region oil through the Turkish Ceyhan pipeline for many reasons."
Since the Kurdistan Region's oil exports stopped on 3/24/2024, the Federal Ministry of Oil has compensated for the region's oil, amounting to 400,000 barrels, from the southern governorates, to maintain the OPEC oil export ceiling, according to Mahmoud.
According to OPEC, Iraq has the right to export 3.5 million barrels of oil per day, which means that the region’s oil was compensated for by the southern provinces and did not affect Iraqi oil exports, according to the deputy head of the parliamentary committee.
Mahmoud explained that, "If an agreement is reached between the federal and regional governments to export Kurdistan oil, the federal government must reduce 400,000 barrels of southern oil in order to export it from the region's oil."
He pointed out that "the federal and regional governments have not yet reached the cost of producing one barrel of oil for the oil extraction companies in the Kurdistan Region, and this is another file that hinders the resumption of Kurdistan's oil exports."
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195 views
Added 08/07/2024 - 6:47 PM
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