"SOMO" informs international companies not to buy crude oil from Kurdistan

tigergorzow · September 16, 2022

19 hours ago, 6ly410 said:

British report: America presses Baghdad to cancel the decision of the judiciary to stop the export of Kurdistan oil

Thursday 15 , September 2022 21:07 |Economical Number of Readings : 506

British report: America presses Baghdad to cancel the decision of the judiciary to stop the export of Kurdistan oil (ninanews-com.translate.goog)

Baghdad/Nina/ The report of the British website "Middle East eye" revealed on Thursday the existence of enormous American pressure towards the Baghdad government to stop the decision of the Federal Supreme Court to prevent the Kurdistan government from selling oil, indicating that the United States fears the suspension of dozens of its companies in the region in conjunction with a global fuel crisis. According to the report, "The United States urged Baghdad not to implement a court ruling forcing the Kurdistan region to hand over oil extracted from its territory to federal authorities, warning that this could lead to "exacerbation of an economic crisis" in Iraq

. Leaf, senior Middle East diplomat at the US State Department, said Washington is deeply concerned that rushing to implement this resolution could risk driving US companies out of Iraq, and other companies outside Iraq.
"It would be a shocking vote on distrust of Iraq's business environment and, frankly, could have broader economic repercussions beyond the Kurdish region of Iraq," she added.
Lev stressed that she "shares the concerns of the United States with leaders in Baghdad and Erbil that pursuing the court's ruling would exacerbate the country's economic problems while that happens. The country is already dealing with a political crisis."

It is noteworthy that the ruling stated, "All oil contracts in the Kurdistan region are void, including exploration, extraction, export and sales agreements."
The dispute over oil sales escalated this summer after a commercial court in Baghdad annulled contracts between the Kurdish government and foreign energy companies.
"The United States has not taken any legal position on the Iraqi court's ruling, and moving forward now in the midst of an ongoing crisis over the formation of the government would simply risk some sort of deepening economic crisis, and that's the last thing the Iraqi people need," Lev said.

DV, Let's hope the GOI, PARLIAMENT & SADR will move forward with the Judiciary to stop the KURDs from exporting Oil from the region. The Barzani's Talabani's & Zebari's Family are a bunch of darn "Crooks" that need to be put in JAIL 4-LIFE. Just My 2 Cents...👍👍😊

yota691 · September 17, 2022

A British report reveals the American position on the oil dispute between Baghdad and Erbil

2022.09.16 - 20:56

Baghdad - people

The United States urged Baghdad not to implement a court ruling forcing the Kurdistan region to hand over oil extracted from its territory to federal authorities, warning that this could "exacerbate an economic crisis" in Iraq.

“Washington is very concerned — that rushing to implement this decision could risk driving American companies out of Iraq, and others outside of Iraq,” Barbara Leaf, the assistant secretary of state for Middle East affairs, told reporters on Wednesday.

"It would be a shocking vote of no confidence in the business environment in Iraq, and frankly it could have broader economic repercussions beyond the Kurdish region of Iraq," she added.

Leaf said she shares US concerns with leaders in Baghdad and Erbil, the capital of the Kurdish region, officially recognized as an autonomous region in Iraq since 2005, that pursuing the court's ruling would exacerbate the country's economic problems.

The KRG has been working for decades to develop its oil and gas resources independently of the Iraqi federal government, and passed its own oil law in 2007 to manage control over the resources in its territory.

In February, the Iraqi Federal Court ruled that the KRG's oil and gas law was unconstitutional and required Kurdish authorities to hand over their raw products.

While Leaf said the United States has not taken any legal position on the Iraqi court ruling, "moving forward now in the midst of an ongoing crisis over government formation would simply risk some kind of widening economic crisis, and that's the last thing the Iraqi people see need." .

Contracts are void

The ruling declared all oil contracts in the Kurdistan region void, including exploration, extraction, export and sales agreements. The dispute over oil sales escalated this summer after a commercial court in Baghdad annulled contracts between the Kurdish government and foreign energy companies.

And Iraq has entered into a political crisis since Al-Sadr emerged as the biggest winner in the parliamentary elections last October.

Last month, Baghdad's Green Zone was shaken by violence as the cleric's supporters launched against Iranian-backed militias.

Besides angering Kurdish officials, the ruling also unnerved major energy companies and drew the attention of US lawmakers.

In a letter sent to US Secretary of State Anthony Blinken in August, Senators James Rich and Bob Menendez, the ranking member and chair of the Senate Foreign Relations Committee, said "certain US companies" were being targeted by Baghdad law enforcement.

Third Party Negotiations

Lev asked leaders in Erbil and Baghdad to enter into negotiations with a third party or "other such venue" to mediate the dispute, which she said could happen in conjunction with talks to form a government.

The diplomat said the end result of the talks should be a new hydrocarbon law "that everyone agrees is long overdue and absolutely necessary."

The dispute over oil sales comes amid rising energy prices exacerbated by Russia's invasion of Ukraine.

Source: Middle East Eye

6ly410 · September 19, 2022

SOMO: We have informed all international companies not to buy crude oil from Kurdistan

Economic News Agency - SOMO: We have informed all international companies not to buy crude oil from Kurdistan (economy-news.net)

Economy News / Baghdad

Oil marketing company "SOMO" announced on Monday that it is taking marketing measures and informing all international companies not to buy crude oil from the Kurdistan region, while stressing that the regional government is obliged to implement the decision of the Federal Court.

The company's director, Alaa al-Yasiri, said in a statement to the Iraqi News Agency, "The Federal Court issued a decision stating the invalidity of all contracts concluded by the Kurdistan Regional Government regarding the extraction and export of crude oil."

Al-Yasiri added that "the Ministry of Oil began to develop flexible mechanisms for the purpose of transferring the file in full to the federal government, but the issue was not welcomed by the regional government, which prompted the ministry to take legal action," noting that "the regional government is obliged to apply the court's decision."

He pointed out that "the oil marketing company has taken marketing measures and all international companies have been informed not to buy crude oil from the region," noting that "the quantities exported from the region last year amounted to about 420 thousand barrels per day, while this year the quantities exported have decreased to about 355 thousand barrels per day."

He stressed that "the regional government sells oil at lower prices than the central government, and according to a news published by Reuters, the region sells oil at discounts ranging from $ 16-20 per barrel, although the sale is carried out in the same area and with the same quality of oil."

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Added 09/19/2022 - 7:34 PM

6ly410 · September 20, 2022

ERBIL, Kurdistan Region - Iraq's state-owned company responsible for marketing its oil to global markets, has informed international companies to no longer purchase crude oil from the Kurdistan Region, the company’s director told Iraqi state media on Monday.

Iraq’s State Organization for Marketing of Oil's (SOMO) director also stated that Erbil is obliged to apply the Supreme Court’s decision outlawing the Region’s oil and gas law.

The Iraqi Federal Supreme Court in February deemed the Kurdistan Region’s oil and gas law “unconstitutional”, hence striking the independence of the Region’s energy sector and jeopardizing its industry. The Kurdistan Regional Government (KRG) has repeatedly challenged the constitutionality of the court’s ruling.

“The oil marketing company [SOMO] has taken the marketing measures and the international oil companies have been informed not to buy crude oil from the Region,” Alaa al-Yasiri, the director of SOMO, told Iraqi state media on Monday.

The Iraqi oil ministry said in a statement in July that US energy giants Schlumberger, Baker Hughes, and Halliburton have confirmed that they will no longer be applying to new projects in the Kurdistan Region, in compliance with the Supreme Court’s decision.

Yasiri stated that the court’s ruling has annulled all of the Kurdistan Region’s oil extraction and export contracts with the IOCs, and mechanisms have been laid out by the Iraqi oil ministry to transfer the files to the federal government, but the efforts “have not been welcomed” by Erbil.

According to Yasiri, the Kurdistan Region’s daily export rate of 2022 has decreased from 355 thousand barrels compared to 420 thousand in 2021.

The KRG’s quarterly report audited by Deloitte revealed that the Region had exported over 36 million barrels of oil from January 1 to March 31 of 2022, at an average price of $86.7 per barrel.

The KRG reported a total net income of over 3.9 billion dollars throughout 2021, having exported over 152 million barrels of oil.

Updated at 1:20pm

yota691 · September 20, 2022

Zidane and the US ambassador discuss the claims of oil companies in the Commercial Court

Time : 09/20 2022 11:41:26
Reading: 754 times

{Local: Al Furat News} The President of the Supreme Judicial Council, Judge Faiq Zaidan, received the US Ambassador to Iraq, Alina Romanowski.

A statement to the judiciary said that the two sides "discussed following up the claims of the oil companies in the Commercial Court."

The National Oil Marketing Company {SOMO} announced yesterday that it had informed all international companies not to purchase crude oil from the Kurdistan region for not complying with the decision of the Federal Supreme Court issued last February and stipulates the invalidity of all contracts concluded by the Kurdistan government regarding the extraction and export of crude oil.

yota691 · September 20, 2022

Kurdistan oil exports decline due to federal prosecutions

19.09.2022 - 19:55

Baghdad - people

The oil marketing company "SOMO" confirmed, on Monday, that the regional government is obligated to implement the decision of the Federal Court.

The director of the company, Alaa Al-Yasiri, told the official agency and followed by "Nass" (September 19, 2022): "The Federal Court issued a decision stipulating the invalidity of all contracts concluded by the Kurdistan Regional Government regarding the extraction and export of crude oil."

Al-Yasiri added, "The Ministry of Oil has begun to develop flexible mechanisms for the purpose of transferring the entire file to the federal government, but the matter was not welcomed by the regional government, which called the ministry to take legal measures," noting that "the regional government is obligated to implement the court's decision."

He pointed out that "the Oil Marketing Company has taken marketing measures and all international companies have been informed not to purchase crude oil from the region," noting that "the quantities exported from the region last year amounted to about 420,000 barrels per day, and this year, the exported quantities have decreased to about 355,000 barrels per day.

He stressed, "The regional government sells oil at lower prices than the central government, and according to news published by Reuters, the region sells oil at discounts ranging from 16-20 dollars per barrel, despite the fact that the sale takes place in the same region and with the same quality of oil."

yota691 · September 20, 2022

Zidane meets with the US ambassador regarding lawsuits against Kurdistan oil

09.20 2022 - 11:43

Baghdad - people

Today, Tuesday, the head of the Supreme Judicial Council in Iraq, Faiq Zaidan, met with the American ambassador, Alina Romanowski, and discussed with her a number of files.

And the Judicial Council stated in a statement that “Nass” received a copy of it (September 20, 2022), that “the President of the Supreme Judicial Council, Judge Dr. Faiq Zaidan, received on 9/20/2022 the Ambassador of the United States of America to Iraq, Mrs. Alina Romanowski, and discussed with her the follow-up to the lawsuits of the oil companies. in the Commercial Court.

The United States urged Baghdad not to implement a court ruling forcing the Kurdistan region to hand over oil extracted from its territory to the federal authorities, warning that this could lead to an "exacerbation of an economic crisis" in Iraq.

“Washington is very concerned — that rushing to implement this decision could risk driving American companies out of Iraq, and others outside of Iraq,” Barbara Leaf, the assistant secretary of state for Middle East affairs, told reporters on Wednesday.

"It would be a shocking vote of no confidence in the business environment in Iraq, and frankly it could have broader economic repercussions beyond the Kurdish region of Iraq," she added.

Leaf said she shares US concerns with leaders in Baghdad and Erbil, the capital of the Kurdish region, officially recognized as an autonomous region in Iraq since 2005, that pursuing the court's ruling would exacerbate the country's economic problems.

The KRG has been working for decades to develop its oil and gas resources independently of the Iraqi federal government, and passed its own oil law in 2007 to manage control over the resources in its territory.

In February, the Iraqi Federal Court ruled that the KRG's oil and gas law was unconstitutional and required Kurdish authorities to hand over their raw products.

While Leaf said the United States has not taken any legal position on the Iraqi court ruling, "moving forward now in the midst of an ongoing crisis over government formation would simply risk some kind of widening economic crisis, and that's the last thing the Iraqi people see need." .

Contracts are void

The ruling declared all oil contracts in the Kurdistan region void, including agreements for exploration, extraction, export and sales. The dispute over oil sales escalated this summer after a commercial court in Baghdad annulled contracts between the Kurdish government and foreign energy companies.

And Iraq has entered into a political crisis since Al-Sadr emerged as the biggest winner in the parliamentary elections last October.

Last month, Baghdad's Green Zone was shaken by violence as the cleric's supporters launched against Iranian-backed militias.

Besides angering Kurdish officials, the ruling also unnerved major energy companies and drew the attention of US lawmakers.

In a letter sent to US Secretary of State Anthony Blinken in August, Senators James Risch and Bob Menendez, the ranking member and chair of the Senate Foreign Relations Committee, said "certain US companies" were being targeted by Baghdad law enforcement.

Third Party Negotiations

Lev asked leaders in Erbil and Baghdad to enter into negotiations with a third party or "other such venue" to mediate the dispute, which she said could happen in conjunction with talks to form a government.

The diplomat said the end result of the talks should be a new hydrocarbon law "that everyone agrees is long overdue and absolutely necessary."

The row over oil sales comes amid rising energy prices exacerbated by Russia's invasion of Ukraine.

yota691 · September 20, 2022

SOMO is in the process of taking legal measures against companies that bought oil from Kurdistan, including from Israel (document)

2022/09/18

103

Baghdad / Al-Mawrid News

A source within the Iraqi Oil Marketing Company (SOMO) revealed today, Sunday, that the company is moving to take legal measures against companies that bought oil from Kurdistan, including from Israel.

The source said, "The Iraqi State Oil Marketing Company (SOMO) has taken legal measures against the attached companies that specifically bought Iraqi oil from the Turkish Ceyhan Oil Station without the express approval of SOMO."

He added, "SOMO will impose harsh commercial sanctions on the aforementioned companies for violating the final ruling of the Iraqi Federal Supreme Court, which considered any purchases of oil outside SOMO's authority to be illegal."

yota691 · September 21, 2022

"SOMO" informs international companies not to buy crude oil from Kurdistan

Oil Marketing Company "SOMO",

September 20 2022 03:54 PM

Mubasher: The Oil Marketing Company “SOMO” announced, yesterday, Monday, that it had taken marketing measures and informed all international companies not to purchase crude oil from the Kurdistan region, while stressing that the regional government is obligated to implement the decision of the Federal Court.

The director of the company, Alaa Al-Yasiri, told the Iraqi News Agency (INA), that "the Federal Court issued a decision stipulating the invalidity of all contracts concluded by the Kurdistan Regional Government regarding the extraction and export of crude oil."

Al-Yasiri added, "The Ministry of Oil has begun to develop flexible mechanisms for the purpose of transferring the entire file to the federal government, but the matter was not welcomed by the regional government, which called the ministry to take legal measures."

And he indicated that "the regional government is obligated to implement the court's decision."

He pointed out that "the Oil Marketing Company has taken marketing measures and all international companies have been informed not to purchase crude oil from the region," noting that "the quantities exported from the region last year amounted to about 420,000 barrels per day, and this year, the exported quantities have decreased to about 355,000 barrels per day.

horsesoldier · September 22, 2022

All aboard the Crazy Train. Renegade criminal politicians in Kurdistan & Iraq dismissive of all laws running amok, no accountability & not a living soul to reign these criminals in.

What an embarrassment ( although they have no shame, honor, just plain greed rules the day) Iraq & Kurdistan are.

6ly410 · September 22, 2022

ERBIL, Kurdistan Region - The United States called on Iraq and the Kurdistan Region Wednesday to work towards reaching an agreement in disputes between them regarding the oil and gas sector, as Erbil’s status in administering its natural resources continues to be jeopardized by a federal court ruling.

“The solution must come from the Iraqi fronts. It is not possible for the United States or any outside force to impose its opinions or impose a solution on the Iraqi people,” Samuel Warberg, a regional spokesperson for the US State Department, told Rudaw’s Roj Elli Zalla on the sidelines of the 77th United Nations General Assembly (UNGA) in New York.

Iraq’s Federal Supreme Court in February ruled the Kurdistan Region’s oil and gas law as “unconstitutional” and struck down the independence of the Region’s energy sector, placing its status in jeopardy. The Kurdistan Regional Government (KRG) has repeatedly condemned the ruling and labeled the court as “unconstitutional” itself.

Despite ongoing tension between Baghdad and Erbil, Warberg believes it is “possible” for both sides to reach an agreement so that the Iraqi people can reap the financial benefits from the country’s natural
resources.

The Iraqi top court’s decision is impacting the presence and operations of international oil companies (IOCs) in the Kurdistan Region, and a number of companies have decided to obey Baghdad’s blacklist and exit the Region.

Iraq’s oil ministry in July said US energy giants Schlumberger, Baker Hughes, and Halliburton are in the process of liquidating and exiting existing tenders and contracts in the region in compliance with the Supreme Court’s decision.

The US State Department later urged the KRG and the Iraqi federal government to cooperate in dealing with disputes to safeguard interests.

“Any dispute between Baghdad and Erbil has the potential to set back those interests and the interests that we do share with the people of Iraq and the Kurdish people as well,” State Department spokesperson Ned Price said.

On Monday, US company Weatherford also joined the growing list of companies executing the federal court’s ruling and succumbing to pressure from the Iraqi oil ministry, according to Iraqi Oil Report.

Top US diplomat to the Middle East Barbara A. Leaf last week warned that the February decision risks plunging Iraq into a wider economic crisis, calling its possible emergence “the last thing that the Iraqi public needs.”

When asked about Washington’s commitment to the fight against the Islamic State (ISIS), Warberg reiterated US commitment to ensuring the lasting defeat of the terror group.

“We remain committed to the global coalition against ISIS and we held several meetings before the week of the UNGA and discussed with our partners inside and outside the region to eliminate ISIS,” he said.

However, the spokesperson warned that ISIS “still poses a serious threat” despite significant progress in the anti-ISIS mission, with the terror group’s so-called caliphate dismantled territorially in Iraq in 2017 years after its sweeping offensive across Iraq that saw swathes of land come under its brutal reign.

ISIS frequently carries out abductions, hit-and-run attacks, and bombings despite being devoid of territorial control, usually in the disputed areas between Baghdad and Erbil as the areas are part of a security vacuum with limited Iraqi army and Peshmerga presence.

“We must remain committed with our partners in the fight against ISIS, which include the Peshmerga, the Iraqi army, and all other forces,” Warberg stressed.

6ly410 · September 22, 2022

Weatherford pledges to obey Baghdad’s blacklist and exit Kurdistan

The U.S. company joins a growing list of blue-chip oil services firms bowing to the Oil Ministry's pressure campaign against the KRG energy sector.

Weatherford pledges to obey Baghdad's blacklist and exit Kurdistan - Iraq Oil Report

Workers operate a Weatherford drilling rig at the Garraf oil field. (STAFF/Iraq Oil Report/Metrography)

LIZZIE PORTER OF IRAQ OIL REPORT

MONDAY, SEPTEMBER 19TH, 2022

BAGHDAD - Iraq’s Oil Ministry has removed four oil services firms from a blacklist, including U.S. company Weatherford, after they agreed not to seek new contracts in Iraqi Kurdistan — the latest development in the federal government's campaign to exercise control over the semi-autonomous region's energy sector.

The director general of the state-run Basra Oil Company (BOC), Hassan Hassan, communicated the ministry's decision in a letter dated Sept. 9 to "All Lead Contractors" at oil projects throughout Basra. Iraq Oil Report obtained a copy of the letter and confirmed its authenticity with an Oil Ministry official.

horsesoldier · September 22, 2022

The heat is on. Squeeze play.

tigergorzow · September 22, 2022

1 hour ago, 6ly410 said:

Weatherford pledges to obey Baghdad’s blacklist and exit Kurdistan

The U.S. company joins a growing list of blue-chip oil services firms bowing to the Oil Ministry's pressure campaign against the KRG energy sector.

Weatherford pledges to obey Baghdad's blacklist and exit Kurdistan - Iraq Oil Report

Workers operate a Weatherford drilling rig at the Garraf oil field. (STAFF/Iraq Oil Report/Metrography)

LIZZIE PORTER OF IRAQ OIL REPORT
MONDAY, SEPTEMBER 19TH, 2022

BAGHDAD - Iraq’s Oil Ministry has removed four oil services firms from a blacklist, including U.S. company Weatherford, after they agreed not to seek new contracts in Iraqi Kurdistan — the latest development in the federal government's campaign to exercise control over the semi-autonomous region's energy sector.

The director general of the state-run Basra Oil Company (BOC), Hassan Hassan, communicated the ministry's decision in a letter dated Sept. 9 to "All Lead Contractors" at oil projects throughout Basra. Iraq Oil Report obtained a copy of the letter and confirmed its authenticity with an Oil Ministry official.

6ly410 Thanks, DV let's hope the GOI, Federal Supreme Court stays firm on Keeping the Barzani's from exporting Oil outside of Iraq. No outside interference will determine if they are serious about their Sovereignty. Pass the darn "Oil & Gas Law" ASAP....👍👍🙏🙏.

GO RV / RI

Laid Back · September 22, 2022

Kurdistan Oil for 17% of the General Budget.
Baghdad.

6ly410 · September 23, 2022

Iraq today

The new Federal Supreme Court decision regarding the Iraqi National Oil Company

Posted 25 seconds ago

New Federal Supreme Court Decision on Iraqi National Oil Company - Iraq News (iraqakhbar-com.translate.goog)

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news source / news

An important decision that has impressive dimensions, and it is hoped that it will end the confusion that accompanied the drafting, legislation and amendment of the law of the Iraqi National Oil Company for more than five years. Accountability of the federal and regional authorities and at the governorate level. I call on the Ministry of Oil to desist from attempts to circumvent the decisions of the Supreme Court and to work hard to prepare a draft law to amend the company's law in light of the court's decisions, and to contribute to the re-formation of a specialized national oil company commensurate with the conditions, requirements, controls and practices of the current century.

The Federal Supreme Court issued its decision regarding the lawsuit (Number: 49 and its unit 83/Federal/2022) on the current September 21. The decision relates to accepting the lawsuits brought by a group of members of the House of Representatives against the defendants, in addition to their positions, and they are the Prime Minister, the Secretary-General of the Council of Ministers and the Minister of Oil. The lawsuits were filed by Uday Awad Kazem, Mustafa Jabbar Sanad with Basem Khazal Khashan, Intisar Hassan Youssef Al-Jazaery, and related to the unconstitutionality of Cabinet Resolution No. (109) for the year 2020, which included assigning the current Minister of Oil the tasks of the head of the Iraqi National Oil Company and Resolution (211) for the year 2021 This includes the formation of the company’s board of directors, and these two decisions resulted in many actions, despite the fact that the Federal Supreme Court had previously ruled that some of the basic and influential articles in the aforementioned company’s Law No. (4) of 2018.

The court's decision, which was issued unanimously, was achieved through public pleading, and it consists of 16 pages, all signed by Judge Jassim Muhammad Aboud - the President of the Court on September 21, 2022.

In terms of content analysis and structure, it can be said that the decision document consists of two parts; The first included a balanced comprehensive summary of what was stated in the original and unified lawsuit, and what was stated in the defenses of the defendants' attorneys and the third person on their side; The second section included the judgment decision, which was based on the analysis of three issues and the findings of the court regarding them. The number of pages is approximately equal for both sections.

The court’s decision, after review and analysis, was based on three results, which in my view are important, basic and influential, organically interconnected and mutually supportive, and therefore must be taken into account as a whole, interconnected and integrated, namely:

First - The condition of personal interest requires that the court decide in it from its practical aspects and not from its theoretical data or its abstract perceptions. The court conducted a thorough review and clear interpretation of many constitutional articles and was guided by some Qur’anic verses, and emphasized that the constitution was not established “for the interest of a particular political party, sect or nationality, but rather for all Iraqis without discrimination..”, and “any authority that goes beyond the provisions of the constitution that created it loses.” the legitimacy of its existence” and “public funds are allocated for the benefit of all the people, as every individual has a right to it, and its possession by the state and its institutions is a legal possession..... Therefore, every citizen has the right to pay the harm that befalls public money, which as a result turns into private harm. This is based on the constitutional principle that the protection of public funds is the duty of every citizen (Article 27 / first).

In my view, what follows from this important result is to reaffirm the full right of every citizen to resort to the Federal Supreme Court when necessary, especially with regard to governmental decisions (federal, regional or at the governorate level) related to the oil issue. In fact, I have personally affirmed and used this right since the beginning of my many previous interventions aimed at and which contributed to the challenge of the aforementioned Iraqi National Oil Company law, which was presented by the brothers Fouad Al-Amir and Majid Allawi in 2018.*

Second: Emphasizing that public money is the material means of the administration in carrying out its activity, and it is of paramount importance as it is the main nerve of the economic system of the state and depends on its protection to achieve the public interest, which in turn is reflected on the well-being and development of society. The Court affirmed the constitutional principle that "public funds are inviolable, and their protection is the duty of every citizen" as mentioned above, and the role and importance of the amended Law of the Financial Audit Bureau No. 31 of 2011, and concluded that the failure to maintain public funds leads to the failure of the State to perform its constitutional duties.

In my view, the Court's focus on the common role of every "official", every "citizen" and every "entity" in the protection of public funds is an important aspect of this decision, and is organically linked to the first outcome above and affirms the principle of participatory responsibility for the exercise of social rights. The importance of this focus on participatory responsibility is highlighted in light of the prevalence of corruption and its devastating effects on the Iraqi economy and society, which necessitates and may lead to broad legal action by filing cases before the Federal Court to combat corruption as well as for the misuse of the authorities' responsibilities and decisions.

Third - Acknowledging the structural importance of the oil sector in the Iraqi economy, as the resolution stated that “oil represents the lifeblood of the Iraqi economy, and the development of the oil sector entails providing the necessary financial resources to invest in building real human and material capital...” and “Because it is a national wealth, care must be taken for it.” And save it from neglect and waste.” In addressing the court’s decision to accept the challenge to the National Oil Company Law No. (4) of 2018, the current decision confirms that “the abolition of the essential articles .. from the law cannot proceed with the formation of the company.”

What is the consequence of this decision?

The Ministry of Oil wasted nearly four years of time and efforts in an attempt to circumvent the Federal Court’s decision on January 23, 2019 to accept the appeal of several basic and effective articles in Company Law No. 4 of 2018.

In this endeavor, the Ministry took two paths: First - Proposing the first amendment bill to the above-mentioned company law. The strange thing is that within a period of less than five weeks, the Council of Ministers issued two different drafts of this draft amendment law, both based on the same meeting and decision of the aforementioned council! I have previously analyzed both drafts, especially in my intervention entitled “Second Draft of the First Amendment Bill to the Law of the Iraqi National Oil Company” dated October 17, 2019.

As for the second way, it is to take several executive measures, given that the minister is “entrusted with the tasks of the company’s president” in addition to his job, in implementation of Cabinet Resolution No. 109 of 2020 and the Ministry of Oil’s letter No. 19507 on September 13, 2020. I have also previously addressed the problems that resulted and will ensue from These executive procedures are before the completion of the legislative procedures related to the draft law of the first amendment to the law of the company, in my intervention entitled “Confusion again in activating the law of the Iraqi National Oil Company” on July 10, 2021.

Despite the apparent stumbling in efforts to pass the first amendment bill to the company law, the ministry continued to take executive and contractual measures on behalf of the Iraqi National Oil Company. According to book No. 54 dated July 4, 2021 (this is what I addressed in my intervention entitled “A very important follow-up to the law of the Iraqi National Oil Company” on July 13, 2021).

Because of the failure of the Minister of Oil to respond to the above request, “the House of Representatives voted, on Monday, February 28, 2022, to cancel the Cabinet’s decision to assign the Minister of Oil the tasks of managing the National Oil Company” (I addressed this issue in my intervention entitled “The House of Representatives cancels the assignment of the Minister of Oil to tasks Chairman of the Iraqi National Oil Company” on March 1, 2022).

It is clear from the foregoing that the failure to present the first amendment bill to the company law and the ministry’s continuation in implementing the executive procedures and contracting in the name of the company, especially by the current daily caretaker government, all contribute to understanding the decision of the Federal Supreme Court under consideration.

Therefore, I believe that the Ministry of Oil should do the following:

Stop using the name of the Iraqi National Oil Company

Cancel organizational all, administrative and structural measures taken by the Ministry in implementation of Cabinet Resolution No. (109) of 2020, which includes the assignment of the current Minister of Oil to the duties of Chairman of the Iraqi National Oil Company and Resolution (211) of 2021 on the formation of the Board of Directors of the Company and the subsequent decisions.

Freezing all profit-sharing contracts with foreign companies in which the company was named, especially the four contracts with the French company Total Energy

Asking the government to withdraw the first amendment bill to the company law and to work seriously and with a different mentality and with wide participation to prepare a new proposal for the first amendment bill to the company law that takes into consideration and abides by the decisions of the Federal Supreme Court and in a way that contributes to re-forming a specialized national oil company commensurate with the conditions, requirements, controls and practices of the century Present.

I call on my fellow experts, specialists, and those interested in the oil sector and the issue of the Iraqi National Oil Company to contribute positively and objectively to assist the Ministry of Oil in achieving the above tasks and correcting the course of re-establishing the company.

Ahmed Musa Jiyad

Norway

September 23, 2022

yota691 · September 25, 2022

Iraqi Kurdistan’s oil output could halve without investment: Reuters

(Reuters)

Updated 30 August 2022

REUTERS

August 30, 202211:08

IRBIL: Oil production in the Iraqi region of Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector, government documents seen by Reuters showed.

A steep decline in oil revenue, a lifeline for the Kurdish Regional Government, would compound the economic woes of a region already struggling financially within an unstable Iraq, diplomats, officials, and energy experts said.

According to the documents, the Kurdistan Region in Iraq’s oil output could rise to 580,000 barrels per day in five year’s time under a scenario in which investment is fully optimized, leaving 530,000 bpd available for export.

But without new investment, the semi-autonomous region might only have 240,000 bpd available to export as older wells become depleted, the documents, which have not previously been reported, show.

“It is very dangerous,” said KRI parliamentarian Karwan Gaznay, who is a member of the region’s oil and gas committee.

“We should be alarmed by it, but it will not be a real issue if we sort out our problems with the Iraqi government, then Kurdistan can develop new blocks and increase production. We have a lot of reservoirs,” he said.

The KRG did not respond to a request for comment.

Under the Iraqi constitution, the region is entitled to a portion of the national budget. But the arrangement collapsed in 2014 when the Kurds seized control of Iraq’s main northern oilfields in Kirkuk from Islamic State and began selling crude from there independently.

In 2018, Iraqi forces retook disputed territories, including the oil city of Kirkuk, and Baghdad resumed some budget payments but they have been sporadic.

So far this year, it has sent two payments of 200 billion Iraqi dinars ($137 million).

yota691 · September 25, 2022

POSTED ON 2022-09-25 BY SOTALIRAQ

Kurdistan Region announces the difference in the price of its oil with “SOMO” and the size of its debts to international companies

The Kurdistan Regional Government is fully committed to the constitutional and legal principles in selling oil

The Assistant Prime Minister of Kurdistan Regional Government for Financial Affairs, Ribaz Hamlan, said Saturday that the region is now selling its oil at a price less than the Iraqi Marketing Company (SOMO) by only three dollars.

Oil sales in the second quarter of this year amounted to more than 37,618,000 barrels, at an average price of $100.38 a barrel, according to a report published by the regional government after auditing by Deloitte International.

Hamlan said in an interview with Kurdistan 24, that the Kurdistan Region has made great progress in the field of selling oil to international markets, pointing out that it is now selling at a price less than three dollars from the SOMO Company, indicating that the region's oil was previously sold at a much lower price than it is now.

He added that the ninth cabinet has so far paid more than two billion dollars to international companies, stressing that the government still owes these companies about five billion dollars.

Hamlan spoke about the government's efforts regarding salary financing, saying that about 48 percent of oil revenues are allocated to the salaries of Kurdish employees, while the allocation was not more than 30 percent in the past.

Regarding the withdrawal of international oil companies due to the decision of the Federal Supreme Court , Hamlan said, "No company has withdrawn...the companies are engaged in the production and sale of oil."

Hamlan stressed that the Kurdistan Regional Government is fully committed to the constitutional and legal principles in selling oil, describing all pressures exerted on the region as "unconstitutional."

According to a Deloitte report, the total revenues of the Kurdistan Region from oil in the second quarter of this year amounted to three billion and 776 million dollars.

The total value of the oil sold amounted to about three billion and 789 million dollars, of which more than 2.217 billion dollars were spent on paying off debts and oil production and sales expenses.

The total net revenues returned to the government treasury amounted to more than 1.571 billion dollars, which will be allocated to finance salaries and project implementation.

yota691 · September 25, 2022

The region exported 37 million barrels within 3 months... Have the efforts of the Ministry of Oil to "restrict" Kurdistan's oil failed?

2022-09-24

Yes Iraq: Baghdad

Deloitte company published statistics of the Kurdistan region's oil exports and revenues, for three months, indicating that the Kurdistan Region exported more than 37 million barrels of oil, with revenues amounting to more than 3 billion dollars, an average of 418,000 barrels per day, which is the normal rate for export, which illustrates the failure of Baghdad's endeavors. Kurdistan Oil Restriction.

According to a statement issued by the auditing company, during the period from April 1 to June 30, 2022, the Kurdistan region exported during that period 37 million and 618 thousand and 577 barrels through the pipeline, with revenues of 3 billion and 789 million and 290 thousand and 279 dollars.

The Kurdistan Regional Government has allocated one billion and 632 million and 695 thousand and 597 dollars to pay the financial dues, while other government expenditures for the export, transport and storage of oil amounted to 584 million and 609 thousand and 407 dollars, according to Deloitte.

Deloitte clarified that the remaining amount for the government, after deducting all expenses, is one billion and 571 million and 985 thousand and 275 dollars, and it has been allocated to pay salaries.

The region's exports in 2021 amounted to 152 million barrels, which means more than 416,000 barrels per day, a number close to the current exports.

During the first two weeks of July, the Kurdistan region’s exports decreased, as statistical tables showed that the daily export rate of the region exceeded 371 thousand barrels per day during the first 17 days of July, which indicates the possibility of the region’s exports being affected by the restrictions led by the Ministry of Oil on foreign companies operating in the region. The region and Kurdistan's oil, but the return of oil exports during the last three months to their normal rate indicates the failure of oil efforts to restrict Kurdistan's oil.

yota691 · September 26, 2022

Kurdistan Region announces the difference in the price of its oil with "SOMO" and the size of its debts to international companies

The Kurdistan Regional Government is fully committed to the constitutional and legal principles in selling oil

Kurdistan24 Erbil 23:29 2022/09/24

ERBIL (Kurdistan 24) - The Kurdistan Regional Government's assistant prime minister for financial affairs, Ribaz Hamlan, said today, Saturday, that the region is now selling its oil at a price less than the Iraqi Marketing Company (SOMO) by only three dollars.