Ministry of Natural Resources Announcement on Oil Export Sales
Erbi, Kurdistan Region, Iraq -
The KRG Ministry of Natural Resources (MNR) gives public notice of the commencement of the sale of its first shipment of crude oil exported via Kurdistan Region’s new pipeline through Turkey to the Port of Ceyhan.
MNR anticipates the sale of the first parcel of two million barrels of exported crude oil to occur at the end of January 2014.
Thereafter, monthly parcels will increase to 4 million barrels by the end of February and 6 million by the end of March, then steadily stepping up to 10-12 million barrels for the month of December 2014.
At the beginning of this month, some initial quantities of crude oil produced from the Tawke field began flowing through Kurdistan’s new pipeline system to the Turkish port of Ceyhan, and crude oil from Taq-Taq and other producing fields will soon be added to the export system, resulting in a blended medium crude oil quality of 30 to 32 Degrees API.
Prospective buyers can lift the crude oil shipments in the port of Ceyhan under similar arrangements as those used for SOMO (the State Oil Marketing Organisation) for oil export from Kirkuk.
Details of each parcel will be published by MNR in due course. All tenders will be competitive and based on international pricing. In order to ensure full transparency of the sales and contracting process, independent observers will be invited to each tender, together with representatives of the oil companies that have produced the exported oil.
MNR also invites representatives of SOMO to join the process as observers.
At this stage, MNR is inviting reputable and financially capable companies to register with MNR their interest in participating in the January tender or any of the future tenders.
All applicants should in the first instance write to the Ministry of Natural Resources with information about their company profile, track record and financial status via email KOMO@mnr.krg.org.
All submissions should be addressed to:
KOMO - Kurdistan Oil Marketing Organization,
Ministry of Natural Resources,
Council of Ministers, Kurdistan Regional Government,
Erbil, Kurdistan Region, Iraq
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BAGHDAD / News Network Iraq - meeting saw the presidency of parliament with the leaders of political blocs in the presence of Minister executives at the center and the region atmosphere tense and conflicting opinions and open files precedent. Has revealed parliamentary source said in a statement today, that the Kurdistan region carrying two solutions only two to the cause of the financial budget and differences with the federal government about entitlements oil companies in the region., the source said, "The Minister of Natural Resources in the region carrying two solutions to the issue of the financial budget first is to pay the government for the $ 4.2 trillion dinars to the Kurdistan region and be within an item in the financial budget." and added that "The second solution is In that sells Kurdistan oil this amount directly to companies and receive this amount from these companies directly. "He explained that the solutions did not reach an agreement on them as the oil minister in the central government announced that an amount of pent-region of 10.5 trillion dinars was paid region to the center after selling oil How else are given this amount to companies and the center did not receive the proceeds from the sale of oil. The source indicated that "the oil minister proposed the idea of relating that are transfers $ 750 billion dinars from the Ministry's budget to the Kurdistan region to be the amount in the budget for the Kurdistan region about the dues of oil companies trillion and 500 billion dinars as the atmosphere in the talks between the blocs was marred by tension and difficulty of reaching a solution. "turn pointed Chairman of the Board of Supreme Audit Abdel Basset Turki said the government has no right to allocate any amount of outside tables in the budget. He said the claims of some of the possible use of treasury transfers in bridging dues Kurdistan region is a violation of constitutional and legal government can not do without identified in the financial budget. He said the solution is to re-budget, to the government and increase to be covered dues Kurdistan. Among source said Haider Abadi, head of the Finance Committee between he can not increase the budget without increasing revenues. Herren added that any budget where revenues and expenses and can not increase expenses without increasing revenues and could Region Kurdistan to send his trust funds is ten trillion and a half in order to increase revenue and thus increase the budget ceiling. was chairman of the parliament's meeting with the heads of blocs and the ministers executives in the federal authority and the Kurdistan Regional Government.