SOMO announces total oil exports to Jordan during the month of June

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'KRG oil and gas dossier is constitutional': Kurdish Legislator

"The ministry's project of extending oil pipes to the Jordanian port city of Aqaba on the Red Sea's Gulf of Aqaba and from there to Egypt involves corruption worth tens of billions of dollars."

 Dler S. Mohammed   1 Hour

       

Rebwar Babkayi, a member of the Kurdistan Parliament’s Natural Resources Committee. (Photo: Kurdistan Parliament)

Kurdistan Rebwar Babkayi Kurdistan ParliamentKRG Oil and Gas Iraqi oil ministry Krg

ERBIL (Kurdistan 24) – The oil and gas dossier of the Kurdistan Regional Government (KRG) is constitutional and supported by several articles, Rebwar Babkayi, a member of the Kurdistan Parliament's Natural Resources Committee, told Kurdistan 24 on Saturday. 

"Articles 111, 112, and 115 of the Iraqi constitution give the regions the right to manage their oil and gas resources," Babkayi told Kurdistan 24. "No article in the Iraqi constitution mentions that the oil and gas dossier must remain in the hands of the central government only." 

Babkayi reaffirmed that the KRG oil and gas dossier is constitutional and that the Iraqi constitution has given the Kurdish people the right to manage their oil and gas. 

Read More: Barzani holds press conference: "We formally responded to the Iraqi Oil Ministry's proposal for Kurdistan's oil and gas portfolio."

"The Iraqi Oil Ministry is one of Iraq's most corrupted and failed ministries," Bbakayi stated. "The ministry's project of extending oil pipes to the Jordanian port city of Aqaba on the Red Sea's Gulf of Aqaba and from there to Egypt involves corruption worth tens of billions of dollars."

"The Iraqi parliament should investigate the Iraqi oil minister on the Aqaba project and fire him from his position," he added.

Babkayi pointed out that the Iraqi oil minister calls for the handover of the KRG's oil and gas dossier to the federal government because he is a member of the Shiite Coordination Framework, which works to advance a regional country's agenda and opposes the constitutional rights of the people of the Kurdistan Region. 

Read More: Iraqi oil minister calls for establishing new oil company in Erbil

"The Iraqi Federal Supreme Court decision in this regard is unconstitutional," Bbakayi reaffirmed.

Following the Iraqi Federal Supreme Court's (FSC) ruling that the Kurdistan Region's oil and gas law is unconstitutional, the KRG sent delegations to Baghdad to negotiate on the outstanding issue. During those negotiations, the Iraqi Ministry of Oil proposed establishing a company called the Kurdistan Region Oil Company (KROC) in Erbil to be managed by the central government to resolve the issue.

The court's ruling noted that KRG's Oil and Gas Law issued in 2007, under which the autonomous region has managed its oil affairs with international and local companies, is "unconstitutional," a claim the Kurdish authorities strongly refute.

Read More: KRG rejects Baghdad's proposal for an Iraq-controlled Kurdistan Region Oil Company

In the absence of a new oil and gas law, the Iraqi government still uses Law No. 101 from 1976. The KRG says the law is one of the leftover "centralized laws" from the Baathist era and is, therefore, incompatible with the spirit of federalism that was supposed to prevail in post-2003 Iraq

[yota691]

SOMO announces total oil exports to Jordan during the month of June

2022.07.03 - 12:12

 

Baghdad - people   

The Oil Marketing Company "SOMO" announced that the average price of crude oil exported to Jordan rose to more than 107 dollars per barrel during last June.  

  

 

  

"SOMO" said in a statistic on its website that "the total oil exports to Jordan during the month of June amounted to 299 thousand and 760 barrels," noting that "the export rate amounted to 10 thousand barrels per day."  

  

The company added that "the average price of a barrel sold to Jordan amounted to 107.70 dollars," noting that "the value of imports from Jordan's oil exports during one month amounted to 32 million and 284 thousand and 152 dollars."  

  

Thus, Iraq has sold one barrel of crude oil to Jordan for less than 6 dollars only, compared to the official selling price announced by the Ministry of Oil, which amounts to more than (113.70) dollars, according to the statistics issued by the ministry, after it sold at a price less than 15 dollars than the official price. during the month of May.  

[yota691]

 

Iraq raises the price of its oil exported to Jordan

 2022-07-03 02:34

 

Shafaq News/ The Iraqi Oil Marketing Company "SOMO" announced on Sunday that the average price of crude oil exported to Jordan rose to more than 107 dollars per barrel during the month of June, after starting for the third month in a row to export oil to this neighboring country during the current year. .

Thus, Iraq has sold one barrel of crude oil to Jordan for less than 6 dollars only, compared to the official selling price announced by the Ministry of Oil, which amounts to more than (113.70) dollars, according to the statistics issued by the ministry, after it sold at a price less than 15 dollars than the official price. during the month of May.

Somo said in a statistic on its website and seen by Shafak News Agency, that "the total oil exports to Jordan during the month of June amounted to 299,760 barrels," noting that "the export rate amounted to 10 thousand barrels per day."

The company added that "the average price of a barrel sold to Jordan amounted to 107.70 dollars," noting that "the value of imports from Jordan's oil exports during one month amounted to 32 million and 284 thousand and 152 dollars."

In September 2021, Jordan received oil shipments under an agreement to purchase 10 thousand barrels per day of crude oil from the Kirkuk fields to meet part of the domestic demand, before stopping it in February 2022 as a result of the contract expiry, to start again last April.

It is noteworthy that Iraq exports crude oil at preferential prices to Jordan via tanker trucks, at an approximate rate of 10,000 barrels per day.

On Friday, the Ministry of Oil announced the total oil exports and revenues achieved for the month of June, indicating that they amounted to 101 million, and (191) thousand, and (236) barrels, with revenues of (11.505) billion dollars.

[yota691]

Sources to (Economy News): Israel imported 229 thousand barrels of oil from Kurdistan during June

 

energy
   

Economy News - Baghdad
In June, the Kurdistan region exported more than 14.8 million barrels, of which 229,000 were imported by Israel.

According to sources, "Kurdistan's oil exports amounted to about 495 thousand barrels per day during the last month," noting that "Greece ranked first with 5.2 million barrels, and then Italy with 4.4 million barrels."

The sources added to "Economy News", that "Israel imported more than 229,000 barrels from the Kurdistan region," explaining that "the revenues of the Kurdistan region amounted to more than 1.8 billion dollars during the past month."

 

 

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Added 07/04/2022 - 5:36 PM

Update 07/04/2022 - 5:54 PM