Iraq's Kurdistan region receives dues budget long-awaited Baghdad

[yota691]

Iraq's Kurdistan region receives dues budget long-awaited Baghdad

 

Thu Mar 19, 2015 9:09 pm GMT

 

BAGHDAD (Reuters) - The Kurdistan region received in the semi-autonomous northern Iraq, $ 420 million of the budget dues of Baghdad on Thursday, a long-awaited payments would bilateral agreement for the export of oil to the track.
He said Finance Minister Hoshiyar Zebari told Reuters, stressing payments "mean that the parties are committed to the deal."
Baghdad had cut the budget for the Kurds payments in January of 2014 because of the region's oil policies.
He returned the budget to pay dues in December after Kurds agreed to export an average of 550 thousand barrels per day of crude from the port of Ceyhan through the government of the Iraqi State Oil Marketing Organization (SOMO).
The agreement replaces a tribute as a breakthrough will help Iraq to increase its oil exports at a time when the country's revenues are under pressure as a result of the decline in world oil prices and the cost of financing the war against international Islamic organization in the north and west fighters.
And received the Kurds, except to obtain 17 per cent of the national budget for this year, amounting to $ 105 billion, which means that, on average, pay a billion dollars a month, but payment was delayed in February, which is the smartest tensions amid the difficulties encountered by the two sides in accordance with what he said Zebari.
Central government and the private face severe cash-flow problems under the Dat falling oil prices and the war being waged on the organization of the Islamic state in parts of northern and western Iraq.
The Kurds have sought hard to reach the goal of exporting 550 thousand barrels per day from their fields and national fields in Kirkuk, which are now responsible for the export of them.
Zebari said: "There are now different expectations from both sides." He added by saying that oil exports from the north now increasingly steadily and reached more than 300 thousand barrels per day.
He said that the two sides will achieve Ohdavhmha special payments budget and exports of oil by the end of the year, although numbers may vary from month to month. He said that Baghdad is expected to provide a further boost from the budget dues to the Kurds at the end of the month of March.
He said, "Both sides Eoffaan their promises."
The latest batch of budget dues may negotiate Zebari and Deputy Prime Minister Ruz Nuri Shaways -oheme Krdian- and Oil Minister Adel Abdul-Mahdi.
 
(Preparation Mohammed Abdel Aal Arab Bulletin)                                                                                                                                                                                                                                                                                                                                                                                          Zebari: We recognized the province $ 420 million from its budget dues

Thu, March 19 / March 2015 23:22

 

[Follow-where]

Finance Minister Hoshyar Zebari received the Kurdistan region on Thursday the amount of $ 420 million from the financial budget of the federal government dues payments, a long-awaited agreement will re-export of oil to the track.

Zebari said in a press statement that "the payments means that the parties are committed to the oil agreement."

After Baghdad reduced budget payments to the Kurds in 2014 because of the region's oil policies of the parties reach agreement last January.

Nevertheless delayed monthly budget for Kurdistan in February payments, which led to an increase in tension somewhat.

The delivery of the region's share of the budget days from the projected visit of the Kurdistan Regional Government to Baghdad to discuss before the completion of the implementation of the agreement Alinvt.anthy

                                 

[nannab]

Thank you Yota have a good night.

[rdoncampos]

THANKS

[jg1]

Yea. Hoot hoot. Keep this train moving.

[fishing]

Dollars not dinars? Just wondering.

[Laid Back]

The HCL agreement is moving forward, soon the HCL will be law.... Good news.!!

Go Iraq

Go HCL

Go dinar

Go strong 1+

[SgtFuryUSCZ]

***///

 

...Wahooo...!   

[outlawclg]

nice....very nice

[siberian_shaddow]

Much appreciated Yota, great article there still moving forward with positveness.

[sandfly]

THANKS YOTA

[10 YEARS LATER]

I'm Hip . . . I be pickin' up what dey be layin' down. Da train she be a gettin' closuh to da stashun!

 

Whoa . . . . who or what was I just channeling ???

 

Push away from the OUIJA Board.

[TrinityeXchange]

thank you Lord!  

[hmmm]

Alright trinity... I read that report you posted after Adams chat and I appreciate that info boost, much needed! So where does this put us? We need security? More private sector investments? What are some key points we should be looking for besides the obvious HCL? Compared to the other countries that have move to a more flexible exchange rate, is there a pattern to these processes? Your my go to now so I'm counting on you here;)

[TQueezy]

How committed, exactly, is "committed?"

Just curious…

[skeetdog]

Thanks Yota...Is it me or is Iraq lookin' like their gettin' their Shiite together....

[Dinar4Dinner]

Confirmed and reiterated here:  http://news.yahoo.com/iraq-makes-412-mn-payment-kurdistan-region-minister-210042965.html?soc_src=copy 

 

TQ: Don't know if the commitment can be measured as in an oath between blood brothers, rather IT'S FORWARD MOVEMENT between factions that have had a canyon between them vis-a-vis oil, not to mention religious differences, representation on the GOI, etc.  Forward is about 1,437.2 times better than stagnation.  That's my analysis!

 

Peace Out

D4D

[yota691]

Dollars not dinars? Just wondering.

The 420 Million is just stating a value of the amount received in the above article..now with the other article stating Zebari is purchasing bonds in dollars to pay the oil the companies..threw US Citi bank and German Bank of Deutsche...only makes sense..It would be less costly to convert all those Dinars to Dollars..to pay  the Oil Companies that mainly deal in Dollars anyway...The CBI Bonds that will provide Liquidity to the market is what everyone is waiting on...if they issue this without a change in rate..then the wait just got longer....IMO

[justchecking123]

It's piecemeal. Baghdad owes Kurdistan much more than this since 2007 when Maliki started welching on payments. Let's see if they get paid in full eventually. Keep trudging, Iraq.

[Integrativedoc]

The HCL agreement is moving forward, soon the HCL will be law.... Good news.!!

Go Iraq

Go HCL

Go dinar

Go strong 1+

Yes there was ,If I remember correctly, an article just after the HCA was signed that stated the HCA would run for 1 year and be revisited. I think they are giving it the year to get up to pumping levels and payment levels. 

[Big_J]

The 420 Million is just stating a value of the amount received in the above article..now with the other article stating Zebari is purchasing bonds in dollars to pay the oil the companies..threw US Citi bank and German Bank of Deutsche...only makes sense..It would be less costly to convert all those Dinars to Dollars..to pay  the Oil Companies that mainly deal in Dollars anyway...The CBI Bonds that will provide Liquidity to the market is what everyone is waiting on...if they issue this without a change in rate..then the wait just got longer....IMOB

GM YOTA and DV. I couldn't agree more! Bonds without change in rate is not good.

[yota691]

Deputy: Al420 million dollars sent to Kurdistan, less than half the dues for the month of February

 

Editor Ali Jasim - Friday, 20 March 2015 18:41

 

 

 

 

 

 

Alsumaria News / Baghdad 
confirmed member of the Finance Committee in Parliament MP Masood Haider , on Friday, that the amount of Al420 million dollars sent by the federal government to the territory of Kurdistan does not constitute half the dues region for the month of February, pointing out that the region exported 250 thousand barrels of oil per day and the number will increase to 400 A barrel during the current month. Haider said in an interview with Alsumaria News , said that "by the financial budget for 2015, the benefits of the Kurdistan region a month of around US $ billion, or about one trillion and 200 billion Iraqi dinars," explaining that "send an amount of $ 420 million means less than half of the region dues for the month of February. "

 

 

He said Haider that "according to the schedule presented by the Ministry of Natural Resources in the Kurdistan Region on the federal government, the exports of the region that go to the expense of SOMO up to 250 000 barrels per day," adding that "this figure will increase to 400 000 barrels per day in March, according to the table."He was a member Commission on oil and energy parliamentary Ali Faisal al-Fayad may likely, in (15 March 2015), the lag effect in oil production as a result of security incidents in the province of Kirkuk and the Kurdistan region on Iraq's imports and understanding between Baghdad and Erbil. announced the Kurdistan Regional Government, in (9 March 2015) , they handed over 97% of the agreed oil to the center, while suggesting it pending legal maturity of the federal government. decided Iraqi Council of Ministers, on the second of December 2014, the approval of the oil agreement between the federal government and the Kurdistan Regional Government, which provides for delivery of the province Kurdistan at least 250 000 barrels of oil per day to the federal government for the purpose of export.

[jar41]

is anyone else.. so confussed and frustrated as me.. i guess i just dont have a good enough education to figure IRAQ out and and make since of all these articles... I think i am just going to stop visiting here and just wait for Adams email or text when it hits.. you all are awsome and i wish everyone the best in this journey.. god bless you all..

[fishing]

Thanks Yota!

[eburt]

is anyone else.. so confussed and frustrated as me.. i guess i just dont have a good enough education to figure IRAQ out and and make since of all these articles... I think i am just going to stop visiting here and just wait for Adams email or text when it hits.. you all are awsome and i wish everyone the best in this journey.. god bless you all..

No it's not just you jar41 - I wondered the samething - Articles are so confusing I don't try to make since of it any more - This whole thing is crazy!!! Don't know what to expect anymoree from this investment.  Just have to continue to wait as usually....        

["Fred"]

No it's not just you jar41 - I wondered the samething - Articles are so confusing I don't try to make since of it any more - This whole thing is crazy!!! Don't know what to expect anymoree from this investment. Just have to continue to wait as usually....