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

[stanleypower]

so this is an agreement solely pertaining this situation? Not HCL?

[Longtimelurker]

Sounds optimistic with a bit of waiting on top..

[Inbedded HorseHead]

How is that not the de facto HCL?    😎

[6ly410]

 

[6ly410]

 

[3n1]

28 minutes ago, stanleypower said:

so this is an agreement solely pertaining this situation? Not HCL?

 

thats how im reading it imo oil n gas law has not been made law yet .... 

[jg1]

51 minutes ago, Inbedded HorseHead said:

How is that not the de facto HCL?    😎

Probably agreed on everything except for giving the Iraqis their share of the oil wealth. That part still on hold. Lol. As long as those bank dollar sales, continue which they never want to stop because it’s making them rich. None of this is going to help us the way we want it to I believe.

[6ly410]

ERBIL — The Iraqi ministry of oil in a statement on Sunday stressed their commitment to accelerating ongoing negotiations to restart Kurdistan Region's oil exports after a French court ruling suspended them last week.

"The Iraqi government is determined to expedite the resumption of Kurdistan Region's crude exports to Turkey's Ceyhan port, and bridge differences for common good," read a statement released by the oil ministry in Baghdad today.

In light of the positive developments in relations between Erbil and Baghdad as well as mutual understanding on shared issues, we hope to be able to reach an agreement to resume Kurdistan Region's crude exports as quickly as possible."

The KRG has reportedly reached a preliminary deal with Baghdad, which needs to be approved by Prime Minister Mohammed Shia' al-Sudani in order for oil exports to resume. The provisional deal requires crude revenues to be deposited in a bank account managed by the KRG, and monitored by Iraq's federal government.

KRG oil exports were suspended last week after Iraq won an arbitration court case in France, which ruled that Turkey had breached a joint pipeline agreement (1973) with Baghdad by pumping Erbil's oil at the country's Ceyhan port on the Mediterranean sea. The lawsuit was first filed in 2014, but protracted due to the country's war on the Islamic State (IS) and political infighting. The verdict rules that the KRG cannot export its crude without consent from the federal government in Baghdad.

The scope of the lawsuit was pipeline agreement violations from 2014-2018, and another arbitration case on pipeline violations from 2018 onwards remains pending, according to Reuters.

The KRG exported some 450,000 barrels of oil per day before the French court ruling, which accounted for 0.5 percent of global oil supplies. Hallting these crude exports has therefore caused an uptick in global oil prices recently, according to Reuters. The crude halt has been affecting life for ordinary citizens in the Kurdistan Region, including for electricity supplies, which are now being cut due to many oil companies shutting down production on the fields they were operating before.

Oil firms operating in the Kurdistan Region have either ceased production or decreased output, diverting it to storage tanks. The KRG’s economy is heavily reliant on oil revenues, with some revenues being generated internally at border crossing customs points. Continued inability to sell its crude is expected to severely impact Kurdistan Region's economy and the lives of ordinary citizens. Erbil and Baghdad are also collaborating on drafting a long overdue hydrocarbons law, which along with a potential deal on resuming Erbil's crude exports will help the two handle their crude exports without persistent need for crisis management.

[6ly410]

Kurdistan 24 reveals the date of announcing the bilateral agreement between Erbil and Baghdad on the oil and gas file

Kurdistan 24 reveals the date of announcing the bilateral agreement between Erbil and Baghdad on the oil and gas file

 

 

Erbil (Kurdistan 24) - An informed source told Kurdistan 24 on Sunday that within the next two days the bilateral agreement between Erbil and Baghdad on the oil and gas file will be announced.

According to information obtained by Kurdistan 24, a delegation from the Kurdistan Regional Government will go tomorrow, Monday, April 3, 2023, to Baghdad, to discuss the technical aspects of the mechanism of the final agreement between Erbil and Baghdad, regarding the export of Kurdistan Region oil and the oil and gas file.

For its part, the Iraqi Ministry of Oil issued a clarification on Sunday on the export of oil of the Kurdistan Region, while expressing its hope to reach an agreement to resume oil exports soon.

The ministry said in a statement that "the government is keen to speed up the resumption of exports to the Kurdistan Region's oil through the Turkish Ceyhan port and work to bring views closer to serve the public interest."

"The flexibility required to move forward towards achieving the goal of resuming exports was taken into account first according to the new data after the decision of the International Court, and then to discuss other outstanding technical issues between the center and the region," she said.

The ministry stressed "the importance of revenues derived from the resumption of the region's oil export in supplementing the federal budget according to the agreed quantities," pointing out that it "expressed all this in bilateral meetings with the region's delegation."

She expressed her hope that "in light of the positive atmosphere and bilateral understandings, an agreement will be reached to resume oil exports soon," explaining that "in the event that a final agreement is reached in accordance with the new understandings for oil exports, this will be announced at the time."

[6ly410]

 

[6ly410]

Kurdistan region and Baghdad agreement will be signed on oil issue

Kurdistan region and Baghdad agreement will be signed on oil issue (kurdistantv.net)

 

In the next 24 hours, the Kurdistan Regional Government and the Iraqi federal government will sign an agreement on the oil issue.
Bewar Khensi, the regional government's adviser for energy affairs, said in a statement that within the next 24 hours, the Kurdistan Regional Government and the Iraqi federal government will sign an agreement on the oil issue to start exporting Kurdistan region's oil abroad again.
Bewar Khensi noted that the iraqi budget bill has established that the Kurdistan Regional Government (KRG) must send 400,<> barrels of oil daily, so if the region's oil is not sent, it will be created for the Iraqi budget bill.
 

[6ly410]

ERBIL — A delegation from the Kurdistan Regional Government (KRG) is expected to return to Baghdad on Monday to review the technical aspects of a "preliminary agreement" with Baghdad on restarting the Region's crude exports after a week of stoppage, according to Kurdistan 24.

The deal is likely to be announced within the next two days, which is expected to elevate relations between the two, which have often been rocky over the past few years.

The federal ministry of oil in Baghdad today issued a statement on the state of negotiations on the French court's legal challenges that halted KRG oil exports recently, noting progress while also emphasizing Baghdad's goodwill to expedite resumption of Erbil's oil exports.

KRG oil exports were suspended last week after Iraq won an arbitration court case in France, which ruled that Turkey had breached a joint pipeline agreement (1973) with Baghdad by pumping Erbil's oil at the country's Ceyhan port on the Mediterranean sea. The lawsuit was first filed in 2014, but protracted due to the country's war on the Islamic State (IS) and political infighting. The verdict rules that the KRG cannot export its crude without consent from the federal government in Baghdad.

The scope of the lawsuit was pipeline agreement violations from 2014-2018, and another arbitration case on pipeline violations from 2018 onwards remains pending, according to Reuters.

The KRG exported some 450,000 barrels of oil per day before the French court ruling, which accounted for 0.5 percent of global oil supplies. Hallting these crude exports has therefore caused an uptick in global oil prices recently, according to Reuters. The crude halt has been affecting life for ordinary citizens in the Kurdistan Region, including for electricity supplies, which are now being cut due to many oil companies shutting down production on the fields they were operating before.

Oil firms operating in the Kurdistan Region have either ceased production or decreased output, diverting it to storage tanks. The KRG’s economy is heavily reliant on oil revenues, with some revenues being generated internally at border crossing customs points. Continued inability to sell its crude is expected to severely impact Kurdistan Region's economy and the lives of ordinary citizens. Erbil and Baghdad are also collaborating on drafting a long overdue hydrocarbons law, which along with a potential deal on resuming Erbil's crude exports will help the two handle their crude exports without persistent need for crisis management

[6ly410]

 

[3n1]

1 hour ago, jg1 said:

Probably agreed on everything except for giving the Iraqis their share of the oil wealth. That part still on hold. Lol. As long as those bank dollar sales, continue which they never want to stop because it’s making them rich. None of this is going to help us the way we want it to I believe.

 

exactly Jg1 , just an agreement to keep the fat cats happy no HCL profit sharing to the provinces .. we wait

[6ly410]

 

 

Iraqi officials in Baghdad and their counterparts in the Kurdistan Regional Government have reached a preliminary agreement to resume oil exports from the country’s north, with a final agreement expected “within days”. The announcement by both governments on Sunday comes just over a week after Iraq said it had won a landmark arbitration case against Turkey over independent Kurdish oil exports, which the federal government in Baghdad has long considered illegal. The tribunal’s decision halted the flow of Iraqi crude to Turkey’s Ceyhan port. The temporary stoppage accounted for about 0.5 per cent of global oil supply, according to data from Citigroup and the IEA. The supply cut helped spark a rally in oil prices last week, sending international benchmark Brent rising to almost $80 a barrel. Several foreign oil companies said they had paused or slowed operations in Kurdistan in the wake of the tribunal decision. “Following several meetings between the KRG and federal government, an initial agreement has been reached to resume oil exports through Ceyhan this week,” Lawk Ghafuri, head of foreign media affairs for the KRG tweeted. Sources familiar with the discussions in Baghdad and Erbil, the capital of the semi-autonomous Kurdistan region, said that while the principal points had been agreed, some of the finer details were still being negotiated. Iraq is Opec’s second-largest producer, exporting about 3.3mn barrels of crude a day. Of those, Baghdad sends 75,000 b/d to Ceyhan from Kirkuk. The KRG does not publish its production figures but industry experts estimate it at about 440,000 b/d, most of which it exports. Iraq as a whole accounted for 27 per cent of Turkey’s imports of oil and other petroleum products in December 2022, behind only Russia, according to the most recent data from the Turkish Energy Market Regulatory Authority. Oil exports have been an economic lifeline for Iraq’s Kurdistan region. For years, the KRG exploited ambiguity in Iraq’s constitution to export crude and keep the revenues as a way of maintaining some financial independence from Baghdad. The agreement will see northern exports jointly managed by the KRG’s natural resources ministry and Iraq’s State Organization for Marketing of Oil, people from both governments who were familiar with the negotiations said. Bassem al-Awadi, spokesman for the federal government in Baghdad, said the KRG had agreed to form a committee to negotiate with SOMO over oil sales from the Kurdistan region, provided the oil was sold at a price set by SOMO. Industry experts say the KRG has historically sold its oil to traders at a significant discount. Revenues from those exports will be “received by the KRG into an account that the federal government will observe”, a source in the KRG said. That account would sit in Iraq’s central bank or in a bank “accredited by” the federal monetary authority, Awadi said, adding that the KRG president would have the authority to access those funds. The resumption of pipeline flows from the Kurdistan region and from Kirkuk’s oilfields, controlled by Baghdad, will still need approval from Turkey. Turkey’s energy minister Fatih Dönmez this week disputed Iraq’s statement regarding the outcome of the tribunal, saying that his country had several of its claims against Iraq accepted in the arbitration. Dönmez said lawyers were still negotiating on the final settlement amount. The Turkish energy ministry did not immediately comment on Sunday.

[6ly410]

 

[6ly410]

Erbil-Baghdad oil and gas agreement will be announced in the next two days

The source also revealed that a delegation of the Kurdistan Regional Government (KRG) will go to Baghdad tomorrow to discuss the technical aspects of the final agreement between Erbil and Baghdad on the issue of oil exportation. 

 Kurdistan 24   16 Minutes

Erbil-Baghdad oil and gas agreement will be announced in the next two days (kurdistan24.net)

    

   

Iraqi flag (right) beside Kurdish flag. (Photo: Kurdistan 24)

 

ERBIL (Kurdistan 24) – An informed source confirmed to Kurdistan 24 that the agreement between Erbil and Baghdad will be announced in the next two days.

The source also revealed that a delegation of the Kurdistan Regional Government (KRG) will go to Baghdad tomorrow to discuss the technical aspects of the final agreement between Erbil and Baghdad on the issue of oil exportation.

The Iraqi Oil Ministry announced today that the Iraqi government insists on accelerating the resumption of oil exportation from the Kurdistan Region to the Ceyhan port in Turkey.

Kurdistan Region Prime Minister Masrour Barzani on March 25 released a statement that “our recent understandings with Baghdad have laid the groundwork for us to overcome the arbitration ruling today.”

At Baghdad’s request, Turkey halted the export of oil through its Ceyhan port on the Mediterranean on Saturday. The KRG was exporting nearly 400,000 bpd while Baghdad was sending 70,000 barrels a day through the pipeline.

[Laid Back]

PUK President Bafel #Talabani:

- It's time to make the right decision

- Iraq's #SOMO must be the only party responsible to sell the #Kurdistan Region's oil

- Kurdistan share in the #Federal budget including the salary of servants and pensions must be guaranteed.

 

Totally agree.!

 

Kurdistan region sales 400,000 barrels a day 

400,000 x $76.00 = $30.4 millions a day.

 

 

Go HCL

Go Budget

Go profit sharing 

Go Stronger Dinar $1+

 

[Half Crazy Runner]

1 hour ago, 6ly410 said:

Erbil-Baghdad oil and gas agreement will be announced in the next two days

Well, at least that’s more specific than * *

Here’s hoping!! 🤞🏻

[6ly410]

 

[jg1]

4 minutes ago, 6ly410 said:

 

HCL! Its gota be. Dont wake me up if its not true. Ohhhh sweet _______! 

[6ly410]

[6ly410]

ERBIL (Kurdistan 24) – An informed source confirmed to Kurdistan 24 that the agreement between Erbil and Baghdad will be announced in the next two days.

The source also revealed that a delegation of the Kurdistan Regional Government (KRG) will go to Baghdad tomorrow to discuss the technical aspects of the final agreement between Erbil and Baghdad on the issue of oil exportation.

The Iraqi Oil Ministry announced today that the Iraqi government insists on accelerating the resumption of oil exportation from the Kurdistan Region to the Ceyhan port in Turkey.

Kurdistan Region Prime Minister Masrour Barzani on March 25 released a statement that “our recent understandings with Baghdad have laid the groundwork for us to overcome the arbitration ruling today.”

At Baghdad’s request, Turkey halted the export of oil through its Ceyhan port on the Mediterranean on Saturday. The KRG was exporting nearly 400,000 bpd while Baghdad was sending 70,000 barrels a day through the pipeline.

[6ly410]

 

[screwball]

14 minutes ago, 6ly410 said:

ERBIL (Kurdistan 24) – An informed source confirmed to Kurdistan 24 that the agreement between Erbil and Baghdad will be announced in the next two days.

ata  time when they are set to start voting on the budget!!! Boom!!!! time!