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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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    OPEC sues Iraqi minister over oil violations.. What is Kurdistan's involvement?

    Rocky
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    OPEC sues Iraqi minister over oil violations.. What is Kurdistan's involvement? Empty OPEC sues Iraqi minister over oil violations.. What is Kurdistan's involvement?

    Post by Rocky Today at 4:23 am

    OPEC sues Iraqi minister over oil violations.. What is Kurdistan's involvement?

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    Economy News - Baghdad
    [rtl]Member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, said that OPEC had filed a lawsuit against the Iraqi Oil Minister as a result of Iraq’s breach of its quota, and he blamed the region’s exports.[/rtl]
    [rtl]Al-Karawi said, in a televised interview followed by "Al-Eqtisad News", that "the Kurdistan region did not deliver the agreed upon 400 thousand barrels, even after the Ministry of Oil extended pipelines to the refineries in the center and south, after the export via Ceyhan stopped, and what was delivered during the past two years did not exceed 120 thousand barrels per day on average, and it was marred by periods of production stoppage under the pretext of high extraction costs."[/rtl]
    [rtl]He added: "There was supposed to be a meeting to determine the costs of extraction in the Kurdistan Region, but it turned out that the Federal Ministry of Oil does not have any copies of the partnership contracts concluded with the companies operating in the region, in addition to not providing it with the actual extraction data. Some information indicates that the region produces about 750 thousand barrels per day."[/rtl]
    [rtl]Al-Karawi said: “As a compromise, the 400,000 barrels were adopted as the extraction rate that must be delivered to Baghdad, at a cost of $7 per barrel, excluding the cost of transportation, and everyone voted on that within the budget and it became a law binding on both parties, but the regional government did not abide by that, and the federal government did not take any measures in this regard.”[/rtl]
    [rtl]He pointed out that "OPEC filed a lawsuit against the Iraqi Oil Minister because of the export operations carried out by the regional government outside the framework of the rate allocated for SOMO exports, which amount to about 260 thousand barrels per day, because OPEC views Iraq as one country, and has nothing to do with the disputes between the center and the region, and considered Iraq an oil smuggling country."[/rtl]
    [rtl]He explained that "the Kurdistan Region has proposed a new negotiating formula to amend Article 12 of the budget for the delivery of oil production, where they proposed contracting with a consulting company within 60 days to determine the production costs in each oil field and then determine them in a final formula and fix them in the budget. If an agreement is not reached on a consulting company, the two parties will resort to the Prime Minister to choose the company himself, but the company's decisions will be non-binding and the region itself may reject them if the extraction cost estimates are low compared to what is currently in effect in the region."[/rtl]
    [rtl]He stressed that "the Kurdistan Region refuses to hand over data on oil contracts to the central government, and claims that there is a clause that imposes confidentiality on these contracts."[/rtl]


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