Erbil to receive first installment of $1 billion from Baghdad

[yota691]

Erbil to receive first installment of $1 billion from Baghdad By RUDAW 10 hours ago

Kurdistan Region President Massoud Barzani.

ERBIL, Kurdistan Region –Kurdistan Region President Massoud Barzani said Friday that Baghdad would send Erbil $500 million as part of an agreement reached between both sides last week on solving their budget disputes.
 

“We have agreed that Baghdad will send the Kurdistan Region $1 billion in two installments and in return we will give Baghdad 150,000 barrels of oil,” said Barzani at a press conference.
 

Barzani added that the agreed amount of oil would be exported from Kirkuk via Kurdistan’s oil pipeline to Turkey.
 

Najiba Najib, a member of Iraq’s parliamentary finance committee told Rudawthat the money would arrive in Erbil on Monday via Iraq’s central bank.
 

Iraq’s Kurdish Finance Minister Hoshyar Zebari said Wednesday that the practical steps of the agreement had gone into effect and that the Kurdistan Region’s 2015 budget would be the focus of future negotiations between both sides.
 

Zebari said this was the first money sent by Baghdad to Erbil, despite their joint alliance against the Islamic State (ISIS).
 

The finance minister said that the budget dispute between Iraq and the autonomous region has played a role in Iraq’s larger problems.
 

The agreement was reached earlier this month between Iraqi Oil Minister Adel Abdul-Mehdi and the Kurdish government.
 

Kurdish and Iraqi leaders said this was only an agreement to restart negotiations on all disagreements between both sides over budget issues, the Peshmerga forces and oil and gas rights.

 

[moneysoon]

Morning Yota and DV,

 

When the money is flowing good things will occur for all parties.

[sandfly]

THANKS

[10 YEARS LATER]

Long overdue . . . and getting it done double quick, Well done !

[drj]

Keep it rolling...and then, BOOM!  It's done!

[RodandStaff]

Show me the money!!! ;o). Sandfly for the post Yota!!

[Laid Back]

Go Baghdad

Go Kurds

HCL is a done deal

Go CBI

Go increase exchange rate

[boosterbglee]

I think we can, I think we can, I think we can........the little RV train!    

[Wiljor]

Its all good, things are looking up and we are moving forward. "Kurdish and Iraqi leaders said this was only an agreement to restart negotiations on all disagreements between both sides over budget issues"

To me this is a big agreement to re start negotiations and I agree with moneysoon about when $$$ start flowing things will happen.

Thanks yota for the post.

[NWGUY]

Thank you for the post Yota!!!

 

Nothing consummates a deal better thank money changing hands!  That is the very best way to do things.  Put your money where your mouth is Iraq!!! 

 

Now, we need to finish up a few things in Iraq, and we can see the money changing hands for us!!! 

 

Go RV or RI Soon!!!

[SnowGlobe7]

Good news Ya all!!!

[boosterbglee]

A cat with a twang - ya'all!!!!    

[yota691]

 

 

Barzani: Baghdad Stzlmana the first batch of the amount of one billion dollars next Monday

• Agency eighth day
• November 22, 2014, 16:33
•  
• 116 Reading

Erbil - ((eighth day)) The President of Kurdistan, Massoud Barzani, to be sent to Baghdad, Erbil $ 500 million as part of the agreement that was reached between the two sides last week.   Barzani said, "We have agreed with Baghdad that it will send one billion dollars in the form of two batches while we will give in return to Baghdad, 150 000 barrels of oil," he said, adding that "the amount of the agreed oil will be exported from the Kirkuk pipeline through Kurdistan to Turkey."     The MP Najiba Najib member of the Finance Committee in parliament, saying that "the money will arrive in Erbil on Monday across the Iraqi Central Bank."   The Ministry of Finance announced in the November 19, 2014, for $ 500 million transferred to the Kurdistan region, noting that this step comes after the implementation of the provincial government to hand over the item on 150 000 barrels.

 

[moneysoon]

Morning Yota,

 

So if The Kurds are honoring their part of the deal using the Kirkuk pipeline, then "perhaps" it means Kirkuk is a non-disputed territory of the Kurds meaning Article 140 is truly done. Second, 500M to 1B seems not to cause a fuss for anyone involved... They have planned this to a T.

 

Blessings All,

[Jaxinjersey]

So, according to my math... if $1 Billion is payment for a year... at 150,000 barrels/day....  that's about $18.26/barrel for Kurdistan.  What percentage is that of Baghdad's selling cost per barrel?  At $96.00/barrel, it would represent 17%.  If it's a lower cost/barrel... the Kurds would be getting more than the 17% they were originally looking for.  I'm wondering what $ cost/barrel is in the 2015 budget?

[davis411]

 

 

 

Barzani: Baghdad Stzlmana the first batch of the amount of one billion dollars next Monday

• Agency eighth day
• November 22, 2014, 16:33
•  
• 116 Reading

Erbil - ((eighth day)) The President of Kurdistan, Massoud Barzani, to be sent to Baghdad, Erbil $ 500 million as part of the agreement that was reached between the two sides last week.   Barzani said, "We have agreed with Baghdad that it will send one billion dollars in the form of two batches while we will give in return to Baghdad, 150 000 barrels of oil," he said, adding that "the amount of the agreed oil will be exported from the Kirkuk pipeline through Kurdistan to Turkey."     The MP Najiba Najib member of the Finance Committee in parliament, saying that "the money will arrive in Erbil on Monday across the Iraqi Central Bank."   The Ministry of Finance announced in the November 19, 2014, for $ 500 million transferred to the Kurdistan region, noting that this step comes after the implementation of the provincial government to hand over the item on 150 000 barrels.

 

 

 

 

 

 

Barzani: Baghdad Stzlmana the first batch of the amount of one billion dollars next Monday

• Agency eighth day
• November 22, 2014, 16:33
•  
• 116 Reading

Erbil - ((eighth day)) The President of Kurdistan, Massoud Barzani, to be sent to Baghdad, Erbil $ 500 million as part of the agreement that was reached between the two sides last week.   Barzani said, "We have agreed with Baghdad that it will send one billion dollars in the form of two batches while we will give in return to Baghdad, 150 000 barrels of oil," he said, adding that "the amount of the agreed oil will be exported from the Kirkuk pipeline through Kurdistan to Turkey."     The MP Najiba Najib member of the Finance Committee in parliament, saying that "the money will arrive in Erbil on Monday across the Iraqi Central Bank."   The Ministry of Finance announced in the November 19, 2014, for $ 500 million transferred to the Kurdistan region, noting that this step comes after the implementation of the provincial government to hand over the item on 150 000 barrels.

 

OHHHHHHH, god please let that picture be my cut,

[Cynthia AH]

Well DONE!!!!!

[Caye98]

So, according to my math... if $1 Billion is payment for a year... at 150,000 barrels/day....  that's about $18.26/barrel for Kurdistan.  What percentage is that of Baghdad's selling cost per barrel?  At $96.00/barrel, it would represent 17%.  If it's a lower cost/barrel... the Kurds would be getting more than the 17% they were originally looking for.  I'm wondering what $ cost/barrel is in the 2015 budget?

I believe I read $65/barrel was reportedly used in the proposed 2015 budget.

[SnowGlobe7]

A cat with a twang - ya'all!!!!    

 

you bet ya....ya'all!!!!

[yota691]

Morning Yota,

 

So if The Kurds are honoring their part of the deal using the Kirkuk pipeline, then "perhaps" it means Kirkuk is a non-disputed territory of the Kurds meaning Article 140 is truly done. Second, 500M to 1B seems not to cause a fuss for anyone involved... They have planned this to a T.

 

Blessings All,

"Delivery" of Kirkuk to the Kurdistan region

19:42

11/23/2014

I went back Badr bloc, Sunday, the last oil deal, which took place between Baghdad and Erbil, as delivery of Kirkuk to the Kurdistan region, as shown that the announcement of Kurdistan that she would deliver oil to Baghdad inaccurate, confirmed that the oil that you intend to Kurdistan handed over to Baghdad is one of the Kirkuk fields.

MP Badr Qasim al-Araji, a block and said that "the rumors in the media that the agreement was between the governments in Baghdad and the Kurdistan region that would deliver oil to Baghdad is not accurate."

He added that "what is not handed over to the territory of oil exports from the three provinces but from the Kirkuk oil without compromising exports issued by the province."

He reported that "this agreement and sure gave Kirkuk to Kurdistan and the coming days will be a witness to the execution of this Agreement," asserting that "the oil that you intend to Kurdistan is handed over to Baghdad from Kirkuk fields rather than provinces of the region."

Adel Abdul Mahdi, Minister of Oil and the contract agreement with the Ministry of Natural Resources to hand over the territory of the total exports to the Baghdad government. "

Read more: http://dinarvets.com/forums/index.php?/topic/191331-delivery-of-kirkuk-to-the-kurdistan-region/#ixzz3Juvi382k

[Jaxinjersey]

I believe I read $65/barrel was reportedly used in the proposed 2015 budget.

Hi Caye... yes, that's what I thought as well.  Based on that, the Kurds' percentage would work out to be much higher... about 28%.  Maybe they're getting more because of back-pay due, or something.  Or, maybe my entire premise is off!!!! 

[moneysoon]

Yota,

 

I thought I was reading the article right. Thanks!

[Theseus]

So, according to my math... if $1 Billion is payment for a year... at 150,000 barrels/day....  that's about $18.26/barrel for Kurdistan.  What percentage is that of Baghdad's selling cost per barrel?  At $96.00/barrel, it would represent 17%.  If it's a lower cost/barrel... the Kurds would be getting more than the 17% they were originally looking for.  I'm wondering what $ cost/barrel is in the 2015 budget?

 

 

I believe I read $65/barrel was reportedly used in the proposed 2015 budget.

This number has been bantied about since August and due to the falling oil prices to be thrown into the mix it has substantially fallen. The last number I read was $65 just as Caye said. The price per barrel is falling due to the KSA wanting to stop the Americans from fracking in American. Saudis are scared and they have a right to be. They have dropped their price per barrel. The production price point of fracking in America to produce one barrel of oil is $65. This is the reason why the $65 price point for the Iraqi budget to hold. In September I believe this number was around $85 and in May it was $95 to give you some inkling on how far down the price per barrel will fall. Around the beginning of the year price per barrel was being traded just shy of the $100 mark. I think it had risen to about $108 before it started its free fall.

 

All in all, it will seem to settle at $65 due to the production cost of fracking in America.

[Lenape]

Long overdue . . . and getting it done double quick, Well done !

Does everyone now see how things are Happening because of the fact that the Trash has been put in the Dumpster...The Trash wasted 8 year of that Country's chance to grow.. Unbelievable and I hope everyone has a Safe and Happy Thanksgiving..Good Night and be aware of your surroundings at all times......