After Kurdistan’s response to Allawi, the region’s finances

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After Kurdistan’s response to Allawi, the region’s finances: Browse {YouTube}

•  Time: 09/24/2020 21:10:11
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•  Read: 3,913 times

  

(Baghdad: Al Furat News) Today, Thursday, the Ministry of Finance issued a statement in response to the statement of the Kurdistan Regional Government regarding the statements of the Minister, Ali Allawi.

In the statement, the Ministry of Finance stated that it takes note of the press release issued by the Kurdistan Regional Government, commenting on the Finance Minister’s recent interview with the Financial Times of London, that “it is clear that the Kurdistan Regional Government unfortunately responded to a distorted and inaccurate version of the interview, and it drew conclusions. False".
The statement added, "The full interview is available on YouTube. The Kurdistan Regional Government will find that the comments attributed to the Minister of Finance have been incorrectly reported."
Today, Thursday, the Kurdistan Regional Government issued a statement in response to the statements of the Minister of Finance, Ali Allawi, in which he stated that the region had turned into a source of oil smuggling, and caused many problems in Iraq's commitment to the quota system in the Organization of Petroleum Exporting Countries (OPEC).
The Kurdistan Government’s Ministry of Natural Resources stated in the statement that “the Kurdistan Regional Government strongly denies the recent allegations by the Minister of Finance in the Federal Government regarding oil smuggling,” indicating that “these allegations are baseless, rather they are pure speculation that lacks evidence.” .
The statement added, "The figures on oil production and export by the Kurdistan government are subject to independent scrutiny and periodic publication by the Deloitte Corporation, noting that Deloitte reports are prepared and prepared for public opinion, and what is really required is that the federal authorities follow the model of the regional government, meaning that It allows auditing and publishing the quantities of produced and consumed oil as well as what it exports by independent bodies in order to achieve the highest levels of transparency and responsibility in the oil sector and at the level of Iraq as a whole.
He continued, "The Kurdistan Regional Government has reduced its production after the OPEC agreement, and that the total numbers of its production are below proportional levels and their entitlement compared to the rest of Iraq," noting that "the Kurdistan Regional Government continues to deal with the federal government on the basis of its constitutional rights, and will continue to act." Responsible for the operational aspects of oil and gas. "
The Ministry of Natural Resources indicated that it considers the statement to be a clarification "in the context of the broader state of dialogue between us, which aims to achieve credibility in our relations as well as to ensure and respect the rights and duties of both parties in accordance with the constitution."

The Minister of Finance, Ali Allawi, confirmed that the Kurdistan region had turned into a source for oil smuggling, and caused many problems for Iraq's commitment to the quota system in the Organization of Petroleum Exporting Countries (OPEC).
Allawi said in a statement to (SB Global Platts) energy agency, yesterday, Wednesday, that the Kurdistan region is a major reason for Iraq not fully complying with the quota system according to the "OPEC Plus" agreement.
He added, "The Kurdistan region has become a source of oil smuggling and produces between 450 to 470 thousand barrels of crude oil per day, but there is no accurate information about the amount of smuggled oil, because there is smuggling of oil from some fields where it is loaded through tankers and directed to anywhere Certain, without knowing the quantities.
The Organization of Petroleum Exporting Countries and countries outside the organization had agreed to reduce the quantities of oil produced by 10 million barrels per day to prevent the collapse of oil prices after the emergence of the Corona pandemic and the decrease in the level of demand, and according to the agreement, Kurdistan should reduce its oil production, as part of Iraq's obligations to reduce production.

Ammar Al-Masoudi

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This article was before the above..

The Kurdistan government responds to Allawi after he accused the region of smuggling oil

•  Time: 09/24/2020 19:47:14
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•  Read: 2,899 times

  

{Baghdad: Al Furat News} The Kurdistan Regional Government responded, today, Thursday, to the statements of Federal Minister of Finance Ali Allawi on Wednesday, during which he stated that the region had turned into a source for oil smuggling, and caused many problems in Iraq's commitment to the quota system in the Organization of Petroleum Exporting Countries. OPEC. "

The Kurdistan Government’s Ministry of Natural Resources said in a statement that “the regional government vehemently denies the recent allegations by the Minister of Finance in the Federal Government regarding oil smuggling,” indicating that “these allegations are baseless, rather they are pure speculation that lacks evidence. Noting that "the figures on oil production and export by the Kurdistan Regional Government are subject to periodic review and publication independently by the Deloitte Corporation, noting that Deloitte reports are prepared and prepared for public opinion."
The statement said, "The Kurdistan Regional Government has reduced its production after the OPEC agreement, and that the total numbers of its production are below proportional levels and its entitlement compared to the rest of Iraq," adding that the government continues to deal with the federal government on the basis of its constitutional rights, and will continue to act responsibly with regard to Operational aspects of oil and gas. "
The Minister of Finance, Ali Allawi, confirmed that the Kurdistan region had turned into a source for oil smuggling, and caused many problems for Iraq's commitment to the quota system in the Organization of Petroleum Exporting Countries (OPEC).
Allawi said in a statement to (SB Global Platts) energy agency, yesterday, Wednesday, that the Kurdistan region is a major reason for Iraq not fully complying with the quota system according to the "OPEC Plus" agreement.
He added, "The Kurdistan region has become a source of oil smuggling and produces between 450 to 470 thousand barrels of crude oil per day, but there is no accurate information about the amount of smuggled oil, because there is smuggling of oil from some fields where it is loaded through tankers and directed to anywhere Certain, without knowing the quantities.
The Organization of Petroleum Exporting Countries and countries outside the organization had agreed to reduce the quantities of oil produced by 10 million barrels per day in order to prevent the collapse of oil prices after the emergence of the Corona pandemic and the decrease in the level of demand, and according to the agreement, Kurdistan should reduce its oil production, as part of Iraq's obligations to reduce production.
Ammar Al-Masoudi

[yota691]

A new debate between Baghdad and Kurdistan: The Finance Minister is aiming ... and Erbil responds angrily

September 24, 2020

Allawi said that Baghdad is unaware of the quantities of smuggled oil from Kurdistan
Ultra Iraq - Editorial Team

In a new episode of the chapters of the crisis between the federal government and Kurdistan, Finance Minister Ali Allawi said that the region had turned into a "source for oil smuggling," which sparked anger in Erbil.

In a statement, the Minister of Finance held the Kurdistan region responsible for "Iraq's failure to fully comply with the quota system in the Organization of Petroleum Exporting Countries (OPEC)", indicating that "the Kurdistan region has become a source of oil smuggling."

The minister added that the region "produces between 450 to 470 thousand barrels of crude oil daily, but there is no accurate information about the amount of smuggled oil," stressing that "smuggling is taking place continuously from some fields, where it is loaded through tankers and directed to places Certain, without knowing the quantities. "

For its part, the Kurdistan Regional Government promised the statement of the Minister of Finance “purely allegations and speculations that lack evidence.” Independent by the Deloitte Corporation, it publishes prepared reports for public viewing. "

The statement added, "What is really required is that the federal authorities follow the regional government model, meaning that they allow the auditing and publication of the quantities of produced and consumed oil, as well as what they export by independent bodies in order to achieve the highest levels of transparency and responsibility in the oil sector and at the level of Iraq as a whole."

The Kurdistan Ministry’s statement affirmed that “the Kurdistan Regional Government has reduced its production after the OPEC agreement, and that the total numbers of its production are below proportional levels and its entitlement compared to the rest of Iraq,” stressing that “the Kurdistan government continues to deal with the federal government on the basis of its constitutional rights, and it will continue. To act responsibly with regard to operational aspects of oil and gas.

The statement continued, "We consider our clarification in the context of the broader state of dialogue between us, which aims to achieve credibility in our relations as well as ensure and respect the rights and duties of both parties in accordance with the constitution."

 

 

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Expert: Kurdistan’s oil revenues decreased after Kirkuk’s oil out of control

 09/26/2020

 

 579

Follow-up / Resource News

 

The oil expert in the Kurdistan region, Kovind Sherwani, confirmed, Saturday, that in 2018, a contract was signed with the international accounting company Deloitte, which is known worldwide and monitors the sale of oil in the region, which has become a documented and transparent process .

Sherwani said, "The last source of a report on this company is that the region’s exports amount to 380 thousand barrels of oil and does not exceed 400 thousand barrels per day at all ."

He added that "after blocking the oil production fields in Kirkuk, the region’s exports decreased, and in light of the talk about an agreement to deliver 250 thousand barrels to the federal government, then 150 thousand barrels will remain, and their revenues will be with which the regional government will complete the salaries of employees and the dues of the operating oil companies of 4 companies that carry out production and operation tasks and pay them to the government." the region of $ 100 million a month "

He pointed out that "there is no surplus of funds at all, and there is an exaggeration by some political parties regarding the region's exports for political purposes without relying on the scientific question, because Kirkuk oil has gone out of control, and therefore the region cannot export more than 400,000 as a maximum ."

And he indicated that, "after the drop in oil prices in light of the Corona crisis, the financial revenues have decreased significantly, and this is the reason for the inability to fully secure salaries ."

Source: Al Mawred News