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Carrello

Baghdad and Erbil Reach Agreement On Oil

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Baghdad and Erbil Reach Agreement On Oil

September 14th, 2012

The central government of Iraq has agreed to pay the oil companies operating in Kurdistan, the northern, semi-autonomous region of Iraq, and to raise oil production to 200,000 barrels per day.

The official Iraqiya TV station announced on Thursday that “A meeting was held between the two Governments to settle the pending issues between both sides where the meeting reached an agreement to pay the dues of the oil companies working at the Kurdistan Region and to continue exporting the oil and increase its production of oil up to 200,000 barrel per day.”

But a spokesperson for Iraqi Prime Minister Nouri al-Maliki said a few weeks ago that the Kurdistan Regional Government could have up to $3bn deducted from its near $11bn budget as a punishment for signing “illegal” energy deals with oil companies.

The central and regional government have been unable to agree a common oil and gas law since one was first presented in 2007.

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Thanks for this great article Carrello, And all the good stuff you bring to all of us....GO RV!!!~~~

You are very welcome Hammer911.

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Thank you Carrello!!! I think I might start shining up my dancing shoes!!!! :D

This is great news, and it is only Friday! Normally, Fridays is an off type day, so with articles like this one, it makes me excited for the other ones, when they actually get back to work!!!

Go RV!!!

:D:D:D

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Thank you Carrello!!! I think I might start shining up my dancing shoes!!!! :D

This is great news, and it is only Friday! Normally, Fridays is an off type day, so with articles like this one, it makes me excited for the other ones, when they actually get back to work!!!

Go RV!!!

:D:D:D

Please! Get those puppies polished up. :P

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I see Erbil and I see Baghdad. Between those two words I see "agreement". So, in putting two and two together, is it safe to assume the Erbil agreement is finally DONE?? Go RV...

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Here is a couple articles confirming Iraq Business news

Iraq, Kurds reach oil deal

The Iraqi government and Kurdistan struck a preliminary deal on Thursday on a months-long oil dispute that will see the autonomous region export 200,000 barrels of oil per day, officials said.

Kurdistan halted its oil exports via the federal government on April 1 over $1.5 billion it said is owed to foreign oil companies working in the region that Baghdad has allegedly withheld, but then resumed them again on August 7, in what was billed as a confidence-building measure.

Iraq's cabinet threatened on September 4 to cut the autonomous Kurdish region's budget by $3 billion over the suspension of oil exports.

http://www.thedailystar.net/newDesign/news-details.php?nid=249847

Oil controversy between Iraq and Kurdistan resolved

16:41 14 SET 2012

(AGI) Erbil - The Iraqi central government and Kurdistan have agreed to end the controversy concerning payment for oil. Erbil has committed to not interrupt exports, while Baghdad will pay the foreign companies working in Kurdistan, This decision provides a solution to part of the broader controversy between the two parties concerning control over the territory and its oil reserves which has involved important companies such as Exxon Mobil, Chevron and Total. Exports from the region will continue using the Iraqi pipeline and an effort will be made to raise production to 200,000 barrels a day. At the moment about 120,000 barrels a day are exported from the region. . . http://www.agi.it/english-version/business/elenco-notizie/201209141641-eco-ren1066-oil_controversy_between_iraq_and_kurdistan_resolved

UPDATE 1-Kurdistan to keep Sept oil output steady in Baghdad deal

Reuters) - Iraq's autonomous Kurdistan said on Friday it would keep its oil production for export at 140,000 barrels per day this month before raising it to 200,000 bpd for the rest of the year, as part of a deal with Baghdad to end a dispute over oil payments.Under the agreement, Baghdad will also pay 1 trillion Iraqi dinars or around $857 million for foreign companies working in the Kurdish region, the Kurdistan Regional Government said. The deal, first announced on Thursday, will resolve only part of a broader feud between Baghdad and Kurdistan over oil and territory that has involved major companies including Exxon Mobil, Chevron and Total."It was agreed to form a permanent committee to follow up on the terms agreed, and give the committee authority to resolve any obtacles blocking implementation," the Kurdistan government said in its statement.Kurdistan in April halted shipments of its oil in protest over what it said were payments due from Baghdad to companies. It restarted shipments later, but had said it would halt them again by Sept. 15 if there was no agreement on payment.Baghdad and Kurdistan are still fighting over major oil companies like Exxon and Chevron who have signed exploration deals with the Kurdistan Regional Government, contracts the central government says are illegal.Kurdistan, autonomous with its own government and armed forces since 1991, gets central government funding and uses national pipelines to ship its oil. Baghdad says only the central government has the right to ship oil and gas.A long-delayed oil law that aims to resolve the disputes over crude has been caught in political infighting for years, though both Baghdad and Kurdistan say that there is progress on reaching an agreement on that legislation.

http://www.reuters.com/article/2012/09/14/energy-iraq-exports-idUSL5E8KEDLI20120914?rpc=401&type=marketsNews

Iraq row resolved

Posted on » Friday, September 14, 2012

BAGHDAD: Iraq's central government and the country's autonomous Kurdistan agreed to end an oil payment dispute after Kurdistan pledged to continue exports and Baghdad said it would pay foreign companies working there, a senior Iraqi official said yesterday.

The decision resolves part of a broader feud between Baghdad and Kurdistan about control over oil and territory that has involved major companies including Exxon Mobil, Chevron and Total.

Deputy Prime Minister Rosh Nuri Al Shawish, a Kurd who is part of the central government negotiating team, said Kurdistan would keep pumping its share of national oil exports, and Baghdad would pay foreign companies in the Kurdish region. "The two delegations agreed to resolve all disagreements and pay the foreign oil companies working in Kurdistan based on the budget law," Al Shawish's office said. "They agreed to continue oil exports from the region through the Iraqi oil pipeline and to work to increase production to 200,000 barrels per day as a first stage."

http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=337742

Edited by SocalDinar
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GM Carrello, this news is still standing in the positive light. No contradictory articles so to me the road to the RV is open.

Good, positive news, but still a few barriers IMHO <_<

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We have waited so very long, some of us longer than others that it is just unreal to believe this all could be coming together now...

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