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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


    Baghdad "softens" and Kurdistan oil prepares to continue its global journey

    Rocky
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    • Post n°1

    Baghdad "softens" and Kurdistan oil prepares to continue its global journey Empty Baghdad "softens" and Kurdistan oil prepares to continue its global journey

    Post by Rocky Today at 3:58 am

    [size=35][size=35]Baghdad "softens" and Kurdistan oil prepares to continue its global journey[/size]
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    economy

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    2024-11-26 | 03:00


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    [You must be registered and logged in to see this link.]"Telen" before foreign companies.. Kurdish oil will quench the thirst of Ceyhan pipelines


    A new step that will end about two years of paralysis of the oil sector in Kurdistan, after the lawsuit[You must be registered and logged in to see this link.]which he earned[You must be registered and logged in to see this link.]Against Türkiye for allowing oil exports[You must be registered and logged in to see this link.]Without Baghdad's approval, in March 2023 the decision was issued by the arbitration panel.[You must be registered and logged in to see this link.]In Paris for Iraq, and since then the pipelines of the Turkish port of Ceyhan have been thirsty and not a single drop of oil has passed through them from the fields.[You must be registered and logged in to see this link.].


    450 thousand barrels of oil will be exported again, ending the loss of one billion dollars per month.

    About 450 thousand barrels of oil per day have been stopped from being exported from the region since then, with a monthly loss of more than one billion dollars, and it is supposed to have reached 19 billion dollars now. This loss is apparent, but it may not be real if we delve into more details, as the revenues[You must be registered and logged in to see this link.]Of this export, it constitutes less than half, while the rest goes to foreign oil companies.


     
    Ports[You must be registered and logged in to see this link.]It may reduce its exports from 3.4 to 3 million barrels per day only,

    and on the other hand there is an indirect gain, perhaps from stopping oil production in Kurdistan, as federal Iraq was able to increase its exported oil from 3.3 million barrels per day to 3.5 million barrels per day from the southern ports, which are quantities produced at a lower production cost than the cost at which a barrel of oil is produced in Kurdistan, but after this agreement it will return[You must be registered and logged in to see this link.]To reduce its exports from the southern ports.
     

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    Determine the cost of producing a barrel of oil[You must be registered and logged in to see this link.]At $7, it hindered exports for about two years

    in the 2023 and 2024 budgets, and after the responsibility was transferred[You must be registered and logged in to see this link.]oil[You must be registered and logged in to see this link.]To the Federal Marketing Company SOMO, the cost price of one barrel of oil has been calculated in[You must be registered and logged in to see this link.]At about $7, which is the same cost in the southern fields, but despite the fact that the oil pipeline is ready for export and that Turkey has given the green light to resume exports under Baghdad’s supervision, oil has not flowed through the Turkish port because foreign companies operating in the region have refused the $7 for each barrel of oil produced.

    Raising the cost by 120% “temporarily” An advisory committee will set a fair price for Baghdad and the companies.

    After a year and 9 months, it decided[You must be registered and logged in to see this link.]Finally, the cost of oil production in Kurdistan has been adjusted, and an amount of $16 per barrel has been set “initially” for companies per barrel, and we are waiting for what an international advisory committee will reach in a study that will last for two months to determine the fair and just amount for everyone regarding the cost of oil production, after which a new adjustment may be made to the budget to adjust the production costs of Kurdistan oil, which may delay the budget by two months until the new year.
     

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    Oil production[You must be registered and logged in to see this link.]Mountain oil is more expensive than extracting southern oil,

    so producing oil[You must be registered and logged in to see this link.]Its extraction in mountainous and rocky areas is more difficult and expensive than its extraction in the plain and simple southern lands, and the contracts of foreign companies in[You must be registered and logged in to see this link.]They are production sharing contracts, neither service contracts that take a lump sum for each barrel of oil produced as in the southern fields, nor are they profit sharing contracts that take a percentage of the net profit after[You must be registered and logged in to see this link.]Oil, but the companies’ contracts in the region are production-sharing contracts that allow them to obtain quantities of oil and sell them themselves, which is something they consider[You must be registered and logged in to see this link.]It is unconstitutional and that controlling oil and marketing it globally is a sovereign matter.
     
    [You must be registered and logged in to see this link.]Accept economic loss in exchange for moral gains and control of oil

    . Therefore, while foreign companies are currently extracting and selling oil in quantities amounting to about half of what was produced before the export was stopped, they see[You must be registered and logged in to see this link.]Even if it pays more for each barrel of oil produced, and even if it has to reduce production in the southern fields by 400,000 barrels, which are produced at lower costs, in exchange for restoring production at higher costs in the region, it wants other moral gains from resuming[You must be registered and logged in to see this link.]Kurdistan oil, even at the expense of financial losses that experts estimate will reach 5 billion dollars annually.
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