Türkiye announces the date for resuming the export of Kurdistan region’s oil via the Ceyhan line

[6ly410]

 

[6ly410]

 

[6ly410]

Oil rises due to the cessation of Kurdistan's production. Iraq loses $25 million a day

• Today 14:45
• Oil rises due to the cessation of Kurdistan's production. Iraq loses $25 million a day | Information (almaalomah-me.translate.goog)

Information / Baghdad.

Economist Nabil al-Marsoumi confirmed on Tuesday that Iraq is losing about $25 million a day due to the cessation of production in Kurdistan.

Al-Marsoomi said in a Facebook post seen by Al-Maalouma that "the rise in the price of Brent crude to $78 is largely related to the decline in oil exports from Kurdistan and Kirkuk."

He added that exports "amounted to half a million barrels per day, constituting 0.5% of global oil production."

He warned that "the halt in exports will lead to a net loss for Iraq of about $25 million per day because 400,100 barrels per day of Kurdistan's exports are included in the oil revenues in the budget, as well as a little less than $25, <> barrels per day of Kirkuk's oil exports." Finished/<>hr

[6ly410]

Al-Jawahiri shows the reasons for the decline in Iraq's oil exports

• Today 15:34
• Al-Jawahiri shows the reasons for the decline in Iraq's oil exports | Information (almaalomah-me.translate.goog)

Information/ Private.

Oil expert Hamza Al-Jawahiri explained on Tuesday the reasons for the decline in Iraq's oil exports in the current period, while stressing that the international decision to end the export of oil through Kurdistan will add to oil exports 500 thousand barrels per day.

Al-Jawahiri said in an interview with the agency / Information /, that "the reason for the decline in Iraq's export of oil to 3.3 million barrels per day is the result of Iraq's commitment to the Organization of the Petroleum Exporting Countries Plus, which determines the exports of all countries to it in conjunction with the conditions that occur in the global markets for oil.

He continued, "The decision of the International Court in Paris will increase the exports of the National Oil Company SOMO to 500,000 barrels per day that were exported through Kurdistan," noting that "in view of global conditions, oil prices will continue to decline due to many important factors that contribute to the rise in prices." ". 

And he added, "Iraq's oil production has reached 4 million barrels, and the decrease in exports is normal, according to international oil policies."

A member of the Parliamentary Oil and Energy Committee, Intisar Hassan, said in an interview with Al-Maalouma agency that "the International Tribunal's decision to end the smuggling of Iraqi oil from Kurdistan to Turkey is a huge step by the Ministry of Oil."

The economist Nasser Al-Kinani has confirmed in an interview with / information /, that "Iraq will be affected economically in the event of work in the system of reducing oil exports, because Iraq depends entirely on the export of oil in the supply of the economy," stressing that "Orpic Plus decisions are to regulate the export process and maintain global prices of the oil market."

[6ly410]

Oil: The suspension of the region's exports harms the national economy and we are looking to accelerate them

•  Time : 2023/03/28 13:35:41
•  
• Oil: The suspension of the region's exports harms the national economy and we are looking to accelerate them - Al-Furat News (alforatnews.iq)

  

The Ministry of Oil announced that the federal government is working to accelerate the resumption of oil exports to the Kurdistan region, warning that stopping exports "will harm the national economy."

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The ministry's spokesman, Assem Jihad, said in a press statement that "the federal government and the Ministry of Oil are keen to resume oil export operations from the Kurdistan Region," attributing this to its importance to Iraq as a whole and the Kurdistan Region.

He added: "Iraq aims to maximize oil revenues derived from the export of Iraqi oil, whether from the fields of the center and south, or from the Kurdistan Region, because this will reflect on Iraqi society in all its sects and nationalities."

Jihad stressed that "the government and the ministry are working to accelerate the process of resuming the export of Iraqi oil from the Kurdistan Region, pointing out that the delegation of the Kurdistan Region visited Baghdad and held consultations in order to accelerate the export process."

He stated that delaying the export process will harm the national economy, the federal budget, and revenues derived from the export of Iraqi oil, and every day of delay means more losses, he said.

He explained that the federal government is obliged to implement the decision of the International Court in France, as well as the Ministry of Oil and the Kurdistan Region.

"The current mechanism says that the export of Iraqi oil through the Turkish port of Ceyhan must be through the federal government, the Ministry of Oil and its representation in Turkey, which is the company responsible for marketing Iraqi oil (SOMO), pointing out that the court's decision must be implemented," Jihad said.

Iraq and the Kurdistan Region "should consider the priorities today, which are compliance with the international resolution, followed by other issues, such as the oil and gas law, the political agreement and others", he said.

"The technical and economic aspect today requires us to accelerate the process of resuming the export of Iraqi oil from the Kurdistan Region through the Turkish port of Ceyhan through the Ministry of Oil according to agreed mechanisms," he said, warning that stopping oil exports from the Kurdistan Region "will harm the national economy."

 

 

[6ly410]

Kurdistan crisis lifts global oil prices higher in two weeks

economy

Ultra Iraq

 

28-Mar-2023

KURDISTAN CRISIS RAISES GLOBAL OIL PRICES (FACEBOOK)

 

The shutdown of oil exports in the Kurdistan region has pushed global crude prices higher in two weeks, as concerns in the banking sector around the world have eased.

Brent and U.S. Texas have risen since Monday evening and Tuesday afternoon

Brent crude futures rose in Monday's settlement, more than 4% to more than $78 a barrel, while US West Texas crude futures jumped 5% to nearly $73.

On Monday, two oil companiesannounced the closure of the pipeline linking Iraq to Turkey, with the British company Genel Energy saying it "expects the closure to be temporary," while the Norwegian company DNO said it had received "instructions from the Kurdistan Regional Government to temporarily stop pumping oil to the export pipeline."

At mid-afternoon on Tuesday, March 28, 2023, Brent crude continued to rise to $78.39 per barrel, by a small percentage.

U.S. crude, at mid-afternoon, also increased slightly, to $73.20 a barrel.

 

There were no updates on the stock exchange on Iraqi oil, or data from the Ministry of Oil, but the latest update, which dates back to the past 24 hours, indicated that Basra Light crude recorded $ 71 per barrel, and about $ 75 per barrel for Basra Intermediate crude.

The rise in global oil prices comes against the backdrop of the crisis in the Kurdistan region of Iraq, and the suspension of its oil exports through the Turkish port of Ceyhan.

Global oil prices rose on the back of stopping oil exports from the Kurdistan Region of Iraq

Three days ago, the arbitration panel of the International Chamber of Commerce in Paris ruled that the Turkish government must comply with the instructions of the Iraqi side for the movement of crude oil, and obligated the parties, in the words of the Iraqi Ministry of Oil, to be the latter "the only body authorized to manage export operations through the Turkish port of Ceyhan."

The ministrysaid it would discuss "mechanisms for exporting Iraqis through Ceyhan with the concerned authorities in the region and with the Turkish authorities according to the new data."

The Kurdistan region's oil exports amount to about 0.5% of global crude supply, at a rate of 450,<> barrels per day.

With global oil prices rising on the back of the decision, specialists said that "the loss of oil supplies from Kurdistan could offset the impact of Russian supplies finding their way into the market."

 

[6ly410]

Member of Wisdom: Sudanese solved the issue of Kurdistan oil before the decision of the Paris court

Member of Wisdom: Sudanese solve the issue of Kurdistan oil before...| Rudaw.net (rudawarabia.net)

4 hours ago

 

 

IRAQ

A member of the Wisdom Movement, Ahmed Al-Issawi, said that the Iraqi Prime Minister, Muhammad Shia Al-Sudani, solved the problem of exporting oil to the Kurdistan Region before the decision of the arbitration panel of the International Chamber of Commerce in Paris on the export of oil through Turkey.

 

Ahmed Al-Issawi told Rudaw Media Network that "the parliamentary oil committee was recently hosted by the head of the Wisdom Movement, Ammar al-Hakim, where they discussed the issue of approving the oil law within the parliament," noting that "al-Hakim insisted that there be an approval of the law in the next stage, and they also deliberated in the meeting the issue of the oil of the Kurdistan Region."

 

Al-Issawi added that "everyone emphasizes the guarantee of the right of the Kurdistan Region and the right of the Iraqi government to export oil," noting that "Prime Minister Mohammed Shia Al-Sudani solved this problem before issuing the court's decision, through his meetings in the Kurdistan Region with President Massoud Barzani and President of the Kurdistan Region Nechirvan Barzani."

 

The member of the Wisdom Movement noted that "all those in the coalition of state forces are united to approve the oil and gas law, speed up its legislation, and end problems with the Kurdistan Regional Government," pointing out that "the issue of oil and gas will be in the next stage on the agenda of the House of Representatives, and everyone is excited to end this file in the next stage." 

 

 

On Thursday (March 23, 2023), the Arbitration Tribunal of the International Chamber of Commerce in Paris issued the final award in the arbitration case filed by the Republic of Iraq against the Republic of Turkey, for violating the provisions of the "Iraqi-Turkish Pipeline Agreement" signed in 1973, in favor of Iraq.

 

The agreement signed between the two neighboring countries stipulates that "the Turkish government must comply with the instructions of the Iraqi side regarding the movement of crude oil exported from Iraq to all storage and drainage centers and the final terminal."

 

In a statement, the Iraqi Ministry of Oil expressed its appreciation "for the efforts of the arbitration panel of the International Chamber of Commerce in Paris for its professional and professional handling of the lawsuit filed by Iraq, by providing the opportunity and time for the parties to defend their positions, especially since the decision obliges all parties to respect international agreements and covenants in this regard," noting that the Ministry of Oil, through the Iraqi Oil Marketing Company "SOMO", is the only body authorized to manage export operations through the Turkish port of Ceyhan.

 

It is noteworthy that a delegation from the Kurdistan Regional Government arrived in Baghdad, Tuesday (March 28, 2023), with the aim of discussing the export of oil from the Kurdistan Region and some other financial issues with the Iraqi government.

 

The KRG delegation consists of the Minister of Finance and Economy, Awat Sheikh Janab, the Minister of Natural Resources and the Agency Kamal Mohammed, and the Head of the Cabinet Office, Omid Sabah.

 

[6ly410]

1.  The delegation of the region discusses with the Ministry of Oil the re-export through Turkey

 

The delegation of the region discusses with the Ministry of Oil the re-export through Turkey

•  Time : 2023/03/28 13:15:25
•  

  

The Parliamentary Oil and Gas Committee announced a meeting between the Ministry of Oil and the delegation of the Kurdistan Regional Government, which arrived in the capital Baghdad on Tuesday morning.

The second vice president of the committee, Adnan Al-Jabri, told Al-Furat News: "A meeting is now taking place between a delegation from the Kurdistan region and the Ministry of Oil at the latter's headquarters against the background of stopping the region's oil export through the Turkish port of Ceyhan."

"The meeting is being held to reach a formula of understanding to re-export oil through the National Oil Export Company (SOMO)," he said.

A delegation from the Kurdistan Regional Government arrived in the capital, Baghdad, on Tuesday morning, with the aim of discussing the export of oil from the region and some other financial issues with the federal government.

The KRG delegation consists of Minister of Finance and Economy Awat Sheikh Janab, Minister of Natural Resources Agency Kamal Mohammed, and Chief of Cabinet Office Omid Sabah.

The Kurdistan Region delegation will hold several meetings and meetings with government officials in Baghdad, where the discussions mainly focus on the resumption of exporting the Kurdistan Region's oil to global markets.

Who is it.. Raghad Daham

[6ly410]

Iraqi Ministry of Oil spokesman: Kurdistan region should implement French court decision and then we will go to other issues

An hour ago

Hastiar Qaderi

 

Iraqi Oil Ministry spokesman: The region must... | Event.Net (rudaw.net)

t

 

The iraqi oil ministry spokesman said he was "eager" to resume exporting Kurdistan's oil through the Turkish port of Jayhan, which has been suspended for more than four days. He also says that the Kurdistan Region should implement the French court's decision and then go to other matters.

 

"Of course, Iraq and the oil ministry are working to restart oil exports in the Kurdistan Region, because delays in iraq's oil export process will harm the national economy," said Assim Jihad, spokesman for the Iraqi oil ministry.

 

The text of the incident meeting with Assim Jihad, spokesman for the Iraqi ministry of oil

 

Incident: Does Iraq want to start exporting oil to the Kurdistan Region?

 

Assim Jihad: Of course, the federal government and the ministry of oil are eager to restart the oil export process from the Kurdistan Region, because of its importance to Iraq in general and to the Kurdistan Region. Iraq certainly wants to increase its oil revenues. They are obtained because of Iraq's oil exports, whether from the oil fields in central and southern Iraq or in the Kurdistan Region, because it will affect the Iraqi community as a whole, of all its color and nations.

 

Event: Is Iraq rushing to restart oil exports in the Kurdistan Region?

 

Assim Jihad: Of course, Iraq and the oil ministry are working on the resumption of oil exports in the Kurdistan Region. A delegation from the Kurdistan Region visited Baghdad and discussed it. Discussions are continuing to hurry up, as there are delays in the process. Exporting Iraq's oil, harming the national economy, harming the federal budget, harming the revenues it earns because of oil exports, means more damage every day of delay.

 

Event: Is Iraq satisfied with the mechanism stipulated in the 2023 General Budget Bill for exporting oil to the Kurdistan Region?

 

Assim Jihad: Let's be real, now we are dealing with the decision of the international court, so we need to implement this commitment, by the Kurdistan Regional Government, the federal government and the ministry of oil, the mechanism is such that iraq's oil exports are exported through the j Turkey must be through the ministry of oil, representative or head of the oil export case to Turkey, which is an oil marketing company. This is in the forefront of the work. We must do this, and then we can go back to other agreements, now. Every day Iraq's oil exports are delayed, there will be more damage, so today we need to look at the work of the precedents, which include adherence to the international resolution, and then other issues need to be discussed.

 

Incident: The decision in the Paris court contradicts the agreement between the Kurdistan Region and the federal government on oil exports signed.

 

Assim Jihad: I don't want to go into this debate. If we talk about Iraq's oil exports, we shouldn't be involved in sub-discussions. Today we have a court decision, we need to be real, the most important thing we have to do is start. Oil exports, according to the international decision issued by the International Court, can then discuss all other issues, including discussing the oil and gas bill and political agreements and others, I am not political, I am only talking about the arts and economy that The two sides are forcing us to hurry up with the resumption of kurdistan region's oil exports to the Jaihan dam through the oil ministry, according to an agreement mechanism, which must be rushed in Agreement on these mechanisms, in order to restart exports and earn a lot of revenue, to stop Iraq's oil exports in the Kurdistan Region will be detrimental to the Kurdistan Region and the national economics.

 

Incident: In the past few days, the Kurdistan Regional Government delegation has been in Baghdad and another delegation has visited. What is the reason why they did not reach an agreement?

 

Assim Jihad: The discussions are ongoing, there are different views, and our brothers in the Kurdistan Region link the issue to the general budget, political agreement and other issues. Today we are in front of an issue, there is a decision, there is a complaint raised by the ministry of oil, the ministry of oil cannot restart the oil export process with the old mechanisms, on which the complaint has been filed, because this situation will be a contradictory stance between the government and the oil ministry.

 

The oil minister explained at the meetings that he was eager to restart oil exports from the Kurdistan Region and guarantee more revenue from the Kurdistan Region, as well as one of the proposals. It was to start exporting oil through the Iraqi oil marketing company and its revenues to the Kurdistan Region, within the framework of the fund that was agreed on. I think this is the best solution. Baghdad is eager to hurry up to resolve the problem, to discuss the resumption of kurdistan's oil through Somo and then other issues. We hope to reach a solution to this problem, we all understand. For the nature of the conflict, this is an international decision, not a federal government decision, and a decision by the Supreme Federal Court, which has already decided on it. We must consider all of this in the discussions, find a quick solution, to export the oil of the Kurdistan Region.

 

Event: There is a political agreement, artistically, in the 2023 budget bill on the mechanism of exporting oil, what will happen to the fate of that mechanism after the Decision of the Paris Court?

 

Assim Jihad: There was no final agreement on the budget and the political agreement, as I said, the issue is related to an international decision. This decision must be implemented, stopping Iraq's oil exports will harm the Economy of Iraq and the Kurdistan Region, and it cannot be made for a while. Long-term, oil stores will be filled, which is a problem, stopping oil exports from one day to two days a week. We don't wish for this, as I said, the oil ministry wants more revenues and oil revenues for the region. Kurdistan is counted, what's the problem? The Iraqi oil marketing company also sells The Kurdistan Region's oil at a global price, which is higher than the price the Kurdistan Region puts on it, so what is the damage! We are looking for a real and quick solution that serves everyone, which must be treated realistically, respecting all previous and present political agreements, but now an art problem and a question. We have an international law, issued by an international court, that the decision should be implemented and then we will take other steps, whether it is a political agreement or, we hope that all problems will be resolved through dialogue.

 

Event: Are they waiting for the kurdistan region's oil exports to start this week?

 

Assim Jihad: We hope that this is based on our brothers in the Kurdistan Region, who will reach an agreement with Baghdad, which everyone agrees with. I hope that our brothers in the Kurdistan Region will deal with this situation realistically. The ministry of oil has accepted it. The oil of the Kurdistan Region will not remain like this. Mr. Oil Minister has made some suggestions at the meetings to earn income for the Kurdistan Region and the federal government, which is in line with the international decision, which will harm the Kurdistan Region. It generally harms Iraq, so the oil ministry wants to restart oil exports to the Kurdistan Region to provide more revenue for the government and the budget, and to stop harming the federal budget.

 

Incident: Does the Iraqi government have any problems with the Kurdistan Region's oil contracts?

 

Assim Jihad: Of course, there were notes on the nature of these contracts. In several meetings, it was discussed that, after forming the government, there was a positive climate in the meetings to discuss all the outstanding issues related to the contracts. Either iraq's oil exports, or the Kurdistan Region's obligations, there are many contracts, contracts signed without returning to the federal government, notes on those contracts, notes on the length of companies and the way they distribute their revenues, all of which are in a positive situation. It has been mentioned that the Kurdistan Region has committed itself to a lot of commitments, there is a lot of debt, some of the contracts have already been received, many of the issues need to be discussed and solved, and the real door must be found for them, despite the fact that the ministry of oil He has shown readiness to cooperate with the Kurdistan Region to solve these problems. All meetings were held in a positive atmosphere and were held in real dialogue, so we must consider the interests of the Iraqi people and move towards achieving the greatest income. for the sake of the country's economic support.

 

Incident: Has the Iraqi oil ministry made any suggestions to the Kurdistan Regional Government about the resumption of oil exports?

 

Assim Jihad: Of course, there was a real solution by the oil ministry, the first oil ministry stressed that it was eager to hurry up with the resumption of oil exports in the Kurdistan Region, which at the same time the government is concerned about. There is a government view to solve all problems in a way that does not harm the public interest. These dialogues must be in a friendly climate, the national interest should be put above all else, and all issues should be resolved in a way that To be in Iraq's national economic interest and to achieve the highest level of income, one of the solutions was to coordinate oil exports through the Iraqi oil marketing company Somo and then discuss other issues related to The budget issue and the issue of political agreement, today we have a problem that we need to start the oil export process, any delay in that issue will be detrimental to the economy of the Kurdistan Region, the national economy of Iraq and the general budget, so of course the most important thing Is to start exporting the oil of the Kurdistan Region. This was presented by the Minister of Oil, who, for the first time, should implement the international court's decision to export the oil by Somo and the proceeds will be counted in the Kurdistan Region, as the Kurdistan Region has earned and put into the budget. This is one of the issues, with the ministry earning more revenue from the Kurdistan Region.

 

[6ly410]

 

[6ly410]

 

[dinareffic]

So now the question is when is “ next stage”?   But they do seem to be motivated to get this done. Finally 

[6ly410]

 

[6ly410]

Rejected 4 demands of Iraq

Ankara comments on the decision of the International Arbitration Tribunal on the export of oil from the Kurdistan Region to Turkey

2023.03.28 - 19:26

Ankara comments on the decision of the International Arbitration Tribunal on the export of oil from the Kurdistan Region to Turkey (nasnews.com)

 

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Baghdad - Nas   

The Turkish Ministry of Energy and Natural Resources commented on Tuesday on the decision of the International Arbitration Tribunal on the export of oil from the Kurdistan region to Turkey.  

 

    

"Turkey will continue to comply with international law and stands ready to contribute in every possible way to finding a lasting solution between the real parties to this conflict," the ministry said in its statement, which was seen by NAS (March 28, 2023).  

  

  

  

  

[6ly410]

Expert: Contracts of foreign oil companies with Kurdistan have become invalid

Posted 55 seconds ago

 

Expert: Contracts of foreign oil companies with Kurdistan have become invalid - Iraq News (iraqakhbar-com.translate.goog)

 

news source /Baghdad today

Baghdad Today - Baghdad

Oil expert Bahjat Ahmed confirmed on Tuesday that oil contracts signed between the Kurdistan Regional Government and oil companies have become invalid.

Ahmed said in an interview with Baghdad Today that "oil contracts for foreign companies, including the contract with Turkey to sell oil for 50 years, have become invalid."

"Last year's federal court decision, which banned the region's oil exports, nullified all those contracts, including the agreement signed with Turkey to sell oil," he said.

[6ly410]

 

[6ly410]

With fears of disruption to Kurdistan's supplies. Oil is approaching $79 a barrel

Economy | Today, 23:25 | 

    With fears of disruption to Kurdistan's supplies. Oil is approaching $79 a barrel » Baghdad Today News Agency

 

Baghdad Today-Follow-up

Crude oil prices rose at the close on Tuesday, extending their sharp gains achieved in the previous session due to the risks of supply disruptions from the Kurdistan region of Iraq, and hopes of containing the banking sector crisis, Reuters reports.

Brent crude futures rose 53 cents, or 0.7 percent, to settle at $78.65 a barrel, and U.S. West Texas Intermediate crude rose 39 cents, or 0.5 percent, to $73.20 a barrel at settlement.

Prices rose more than three dollars on Monday after Iraq was forced to halt exports of about 450,<> bpd from the northern Kurdistan region via Turkey after an arbitration decision confirmed that Baghdad's approval was required for oil shipments.

[new york kevin]

12 hours ago, yota691 said:

An informed source said, on Tuesday, that oil exports in Kurdistan will continue through the Iraqi Oil Marketing Company "SOMO".

All we need now is the Oil and Gas Law passed and implemented.

 

Yota, waaaaaaasup ! It seems like I have not seen you in quite a while . Now that my DV sign in thing is fixed. 

[screwball]

13 hours ago, 6ly410 said:

"the issue of oil and gas will be in the next stage on the agenda of the House of Representatives, and everyone is excited to end this file in the next stage." 

bet we are more excited...

[T B]

do you know why iraq has so much money? its because they have horded it after the invasion from the people! the people starve and the greedy Goverment like ali marki and the YES USA GOV DESPORSE IT TO THE WEATHY! ITS BEEN LIKE THIS FROM THE START! I SCRATCH YOUR BACK AND YOU SCRATH MINE! OH HELL YES! BETTER READ GEO POLITICS AND LEARN! IM TIRED OF ALL THESE GURUS AND THE BUDDY SYSTEM AND THERE CONTACTS FROM IRAQ! BULL ****!! I DONE MY TIME IN THE SAND AND I HAVE CONTACTS TOO! THESE GOV PERVERTS ARE WHAT THEY ARE, UNTIL THEY GET THE **** TOGETHER AND UNTIL THEN , WE AND THE IRAQ PEOPLE WILL BE PAID! KISS MY ROYAL ASS!!! DONT BELEIVE ME? GO THERE AND YOU WILL FIND THE TRUTH! IM OLD AND TIRED NOW! GOOD LUCK? BE BLESSED1

[6ly410]

ERBIL, Kurdistan Region - A major oil firm said on Wednesday that it is cutting production at its oil fields in the Kurdistan Region as the legal dispute between Iraq and Turkey continues. 

Turkey closed a key pipeline pumping oil from the Kurdistan Region to its port of Ceyhan in the Mediterranean last week after a ruling by the International Chamber of Commerce (ICC). 

Norwegian oil and gas operator DNO announced in a statement that it began an “orderly shutdown” of its operated oil fields in the Kurdistan Region four days after receiving instructions to temporarily halt oil deliveries to Turkey’s Ceyhan port. 

“It is unfortunate it has come to this given the likely impact of a continuing supply disruption on oil prices and at a fragile time in global financial markets,” said DNO’s Executive Chairman Bijan Mossavar-Rahmani.

The Ceyhan port pipeline carried close to 400,000 barrels per day of Kurdistan oil and another 70,000 Iraqi oil to be exported to the Mediterranean and other refineries prior to the halt.

DNO produced an average of 107.000 barrels per day in 2022 in Tawke and Peshkabir oilfields, which amounts to nearly a quarter of the Kurdistan Region’s total exports, it said. 

The statement added that production at Peshkabir was halted on Tuesday evening, while production at Tawke has been initiated and will take over a day to be completed. 

DNO previously announced it had diverted oil production to its production storage, but its capacity is limited. 

The arbitration court ruled that Ankara had breached a 1973 pipeline agreement between Iraq and Turkey that obliges the Turkish government to abide by instructions issued by Iraq regarding the transport of crude oil exported from Iraq. Oil exports from the Kurdistan Region were halted on Friday and are yet to resume.

The Kurdistan Regional Government (KRG) is heavily reliant on its revenues and an inability to sell its crude will severely impact its already struggling economy. 

The KRG has sent several delegations to Baghdad for discussions since the ruling. Iraq maintains that it is in favor of oil exports resuming but insists that Baghdad remains in control of the oil flow from the Kurdistan Region. 

“We fully support the export of the Kurdistan Region’s oil abroad and we should hurry to reach an agreement for the oil to be exported,” Assim Jihad, spokesperson for the Iraqi oil ministry, told Rudaw’s Sangar Abdulrahman on Tuesday.

[yota691]

British website: Iraq hastened to announce winning international arbitration with Türkiye

2023.03.28 - 21:53

 

Baghdad - people  

The British "Middle East Eye" website published additional information and analysis regarding the international arbitration case between Iraq and Turkey over the regional government's export of oil independently through the Turkish port of Ceyhan.  

 

  

  

And the site mentioned in a report followed by "NAS" (March 28, 2023) that "when the International Court of Arbitration ruled on Thursday that Turkey had breached the contract through direct oil trade with the Kurdistan Regional Government of Iraq starting in 2013, and demanded that Ankara pay $1.4 billion, it was Baghdad is very quick to declare victory."  

  

Iraq's Oil Ministry issued a statement praising the court, and Iraqi officials quickly relayed their remarks to local and international media. Turkey also stopped pumping Iraqi crude oil through the port of Ceyhan on Saturday morning, which is half a percent of the world's oil supply.  

  

However, Western and Turkish sources familiar with the court case paint a different picture. A Western source briefed on the court case told MEE: "They can celebrate all they want, but I'm sure their lawyer will be unemployed." They claimed breach of contract in five areas: storage, transmission, exclusive use, access and upload claim. They were only able to win one claim, for upload.  

  

According to the British website, the court case is seen as a legal challenge that intersects a commercial dispute with national and international politics, as Iraq says that one of its components, the Kurdistan Regional Government, does not have a direct mandate to sell oil through the pipeline.  

  

In 2014, Baghdad filed a lawsuit against Turkey and demanded $33 billion in compensation for lost revenue and damages. Last month, they demanded $58 billion in compensation from Ankara for all oil sales made through 2022, according to the sources. But in the end, the court only awarded them $1.4 billion in compensation for the 2014-2018 period, pending interest rates.  

  

According to the site's information based on its sources, the real picture is as follows:  

  

- The court decided that the Kurdistan Regional Government is an organ of the Iraqi government, and therefore it is a legitimate entity. "Therefore, Turkey was not wrong while storing and transporting the oil with the instructions of the Kurdistan Regional Government," the western source said. Their claim for damages under exclusive use was also denied, and they demanded full compensation for oil sale income and loss.  

  

The court decided that Turkey violated the contract only by loading the tankers with the oil that was transported to the port of Ceyhan under the instructions of the Kurdistan Regional Government, because the 2010 amendment to the ITP makes clear that only the Iraqi Ministry of Oil and its affiliated SOMO Corporation are the legitimate authorities that can issue loading orders.  

  

The court assessed whether Ankara imposed excessive transportation fees on Iraq and whether it obtained an illegal discount on the price of oil and ruled in favor of Baghdad. However, the court ruled that 50 percent of the income loss due to the lower oil price had to be borne by the Iraqi government, because the KRG, as an organ of the Iraqi government, profited from the sales and used them for government spending.  

  

- From low pipeline capacity and unpaid transmission fees that go back decades.” “The court awarded nearly $600 million to Turkey over those lawsuits.”  

  

Turkey's counterclaims will have more weight when US denominated interest rates are factored in and added to the total amount because it goes back to the 1990s when rates were higher. "The Iraqi claims, which only go back to 2014-2018, won't have the same excess interest rates, and in the end they will only get a few hundred million dollars," the source said. It's a hollow victory. Even the Court agrees in its judgment that neither party can be considered successful.  

  

A Turkish source familiar with the 2013 KRG-Turkey oil agreement said that in the end no money will come out of Ankara's pocket because the deal includes a compensation clause. The source said, "Any reward will be paid by the Kurdistan Regional Government and thus the Iraqi party."  

  

But Turkish officials expect an agreement to be reached between all concerned parties in time for oil exports to resume.  

[yota691]

A Norwegian company announces the closure of its oil wells in the Kurdistan region

2023.03.29 - 11:33

 

Baghdad - people  

The Norwegian oil company "DNO" announced, on Wednesday, the closure of its oil wells in the Kurdistan region, four days after the suspension of oil exports.  

  

  

The company stated that it continued to produce and store oil during the four days, but its storage capacity was limited.  

  

Oil production from the Tawke and Peshawar fields reached 107 barrels per day in 2022, accounting for a quarter of the Kurdistan Region's total oil exports, according to DNO.  

  

The company confirms that it has stopped oil production in the Bishapur field since last night and has begun repair work.  

  

Regarding the Tawke field, the company said that it has started to close the wells, but it will take a day to close all the wells because it covers an area of 10 km.  

[yota691]

The Turkish Energy Minister denies fining his country 1.4 billion dollars in the case of exporting Kurdistan's oil

2023.03.29 - 14:31

 

Baghdad - people  

Turkish Energy Minister Fatih Donmez denied, on Wednesday, that Turkey had fined $1.4 billion in the case of the international arbitration award.  

  

  

  

When asked if his country had been fined $1.4 billion, the Turkish Energy Minister said in a statement to his country’s media, followed by “NAS” (March 29, 2023), that “there is no such amount.. There is a long report that mentions several penalties, but Not unilateral sanctions.  

  

He added, "Four of the five sanctions requested by Iraq were rejected, and one was accepted."  

  

He continued, "We had our own demands. Five of our six requests were accepted and one was denied. On this basis, our lawyers and friends are evaluating these penalties."  

  

He pointed out, "Of course, there is an agreement between us and the Iraqi government. According to international law and the report prepared by the International Court of Arbitration, we play a constructive role. Time will show this fact."  

  

The Turkish Ministry of Energy and Natural Resources commented, earlier, on the decision of the international arbitration panel on the export of oil from the Kurdistan region to Turkey.  

  

The ministry said in its statement, which was seen by "NAS" (March 28, 2023), that "Iraq's victory in the oil case before the Judicial Committee of the International Chambers of Commerce, based in Paris, is a known and necessary matter."    

  

In fact, this issue reflects the conflict between the Iraqi central government and the Iraqi Kurdistan region, which is a constitutional unity that has been going on for years, and our country has always respected the unity and integrity of Iraq, according to the statement.    

  

The ministry said, "Our country has spent billions of dollars since 1973 to keep the Iraqi-Turkish oil pipeline in operation despite regional instability, and it has taken diplomatic measures to resolve differences with the parties and countries concerned."    

  

The Paris Judicial Committee rejected four of the five Iraqi requests, according to the statement.    

  

The statement concluded, "Turkey is ready to apply international law as before. It is also ready for all efforts between the main parties to the conflict to reach a permanent solution."    

  

  

  

[yota691]

The verdict includes penalties, not fines.. Turkey clarifies its position on the issue of "Iraqi Kurdistan's oil"

Publish date: 29.03.2023 | 12:45 GMT |world News

 

 

The Turkish Minister of Energy and Natural Resources, Fatih Donmez, denied the validity of the news circulated about an international arbitration committee fining his country, in the context of an oil export lawsuit filed by Baghdad against Ankara.

He said in press statements, on Wednesday, that the arbitration committee of the International Chamber of Commerce in Paris prepared an extensive report on the matter, which includes imposing sanctions on Turkey, without imposing a financial fine, and added: "It is not true that the international committee fined Turkey $1.4 billion."

He stated that the ICRC rejected 4 out of 5 allegations made by Iraq in the framework of the case, and one claim was accepted.

He pointed out that there are also some Turkish demands and allegations within the framework of the lawsuit, indicating that the ICRC accepted 5 of them and rejected the sixth.

The Turkish minister added that "legal specialists at his ministry are currently studying the issue," noting that "the matter needs some time to pass in order to become clear."

Zainab Juma al-Mousawi, a member of the Oil, Gas and Natural Resources Committee in the Iraqi parliament, said in an interview with Al-Jazeera that the court’s decision stipulated obligating Turkey to pay $1.5 billion to Iraq for exporting Kurdish oil through the port of Ceyhan between the years (2014-2018) without approval. Baghdad.

 

Source: Anatolia + Al Jazeera