Thread: Kurdistan Economy

Kurdistan Regional Government of Iraq announced the start of the export of oil next month

Kurdistan Regional Government announced it would begin exporting oil next month, but the Iraqi Oil Ministry was skeptical of the plan and denied that they had allowed the use of the Kurdistan Regional Government of the national oil pipeline.

Issued by the Minister of natural resources in the government of Kurdistan Ashti Hawrami a statement in which he stated that the exports of crude oil from the field Tauki will begin in the first of next month, a rate of 60 thousand barrels per day as a first step.

However, the oil ministry spokesman Asim Jihad, Iraq confirmed that the ministry did not allow the export of oil from fields in the region of Kurdistan, denied the existence of an agreement allowing it to export oil through the pipeline, the Kurdish national levels.

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European bank to be inaugurated in Kurdistan Region

The Media manager of the KRG ministry of water resources Qahar Shekhani said that ANTIC group which includes 5 European companies decided to inaugurate a branch of its Bank in Kurdistan Region in the near future.

“ The bank will contribute in the implementation of the European methods work in a way that promotes the investment in the region”, he added.

He also said that a delegation from ANTIC group, on Monday visited the ministry of water resources and discussed with the minister Tahseen Qadir the investment work accomplished in the region, particularly in the field of water sources.

Bearing in mind, ANTIC Group have European banks, its branches spread in all European countries, as well as more than 50 branches in the rest of the world.

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Iraq says to start Kurdistan oil exports on Sunday

Iraq's Oil Ministry said on Wednesday it would start exports from fields in Iraq's largely autonomous Kurdistan region on Sunday at an initial rate of 10,000 barrels per day (bpd).

It added in a statement that it was hoped exports would reach 50,000 after that, but gave no time frame.

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Hawrami denies news regarding oil companies in Kurdistan region

Dr. Ashti Hawrami, KRG minister of natural resources denied the news that was published in a local newspaper saying that the expenses of oil companies in Kurdistan region are paid from the region’s share (17%) of the general Iraqi budget.

“Anyone claims such things does not know the real matters and these news are baseless”, Hawrami said.

He added “Kurdistan Region Parliament, in the presence of all its members, gave the authorities to KRG ministry of natural resources after being aware of all the contracts details.”

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The first phase of the delivery of gas to the homes of the Kurdistan region starts in the next two months

The President of the Federation of importers and exporters in the Kurdistan regional government, Mustafa Abdul Rahman said the first phase of the delivery of gas to homes in the province of Kurdistan, will begin during the next two months, in cooperation with the German company.

"Abdul Rahman told a news released Saturday that a delegation of the Federation of importers and exporters, is composed of 36 members visited Germany in the first of the month, indicating that the contract has been signed with the company," Vij and by the German "worth 50 million dollars to each governorate in the Kurdistan region, the The company specializes in the delivery of gas pipelines to homes.

"Abdel Rahman said the company would complete its work in two phases, the first phase is the development of pipelines and how to deliver them to homes over the next two months, while in the second phase Festuqa Territory Government contracts with the company for the delivery of pipes to the gas wells in the fields of the Kurdistan region.

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the oil flows to the region to support the budget

Governments agreed that the region of Kurdistan with the Federal Government in Baghdad to export 100 thousand barrels per day from fields at the beginning of June, the province will contribute to overcoming the fiscal deficit in the current year budget.

This quantity, which will be issued through the fields and Koysanjaq Tauki in the pitter-patter will raise the export of Iraqi crude oil to nearly one million and (950) thousand barrels per day and with the price of a barrel range and the (52 54) dollars to be added the current year budget.

Ministry of natural resources in the Kurdistan regional government revealed that the formal start-up and the export of crude oil will be the beginning of this June, and agreed to export about 60 thousand barrels per day of Tauki field and 40 A of the field Kuysanjaq in Taq Taq, and the barrels will be moved for the transfer of car fuel to Kirkuk including through the pipeline to the Turkish port of Ceyhan.

The imports of crude oil from fields which will be issued Tauki Koysanjaq and go directly to the federal government in Baghdad will be added revenues to the general budget to help cover the deficit, who will support the general budget of the State, the efforts of the Government of the Kurdistan region to benefit from the oil extracted in the region by linking field Tauki Line in Duhok and Kirkuk Ceyhan also work to link the Taq Taq field in Sulaimaniyah line changed the estimates of the Iraqi president in Baghdad, the Federal Government towards the use of such efforts.

The fields of the Kurdistan region's exports estimated at (100) thousand barrels per day for export (60) people from the fields of Tauki and 40 thousand of the Taq Taq means of increasing exports and an increase in revenues approaching one billion dollars for the remaining six months of the year, said the efforts to extract oil fields in the Kurdistan region to confirm that he could be the development of the fields to raise its capacity to export 300 thousand barrels a year-end and thus the mean increase in imports in the coming year for more than five billion and 500 million dollars, a significant amount of support that are complaining about the state budget deficit and is looking at maximizing the imports.

According to the studies of the Ministry of natural resources in the Kurdistan regional government, the production ceiling in the fields of the province of one million barrels a day, this means achieving remarkable growth and development in the coming years if we give priority to the professional and higher interest, and we hope to contribute to the quantities that will be issued from the province of Kurdistan in the cover part deficit suffered by the general budget of the State.

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Kurdish oil exports worries some

Kurdish oil exports may enmesh Erbil and Baghdad in greater violence, above all it could bring an open ethnic warfare, according to New York Times.

The Iraqi Oil Minister on May 11, however, issued letters to the KRG permitting oil exports from the fields.

“By opening bids on fields in Kirkuk, Prime Minister Maliki is clearly poking the Kurds in the eye by asserting Iraqi sovereignty over oil in territories whose status is constitutionally in dispute,” said Joost Hiltermann, an Iraq expert at the International Crisis Group.

“We hope it is not going back again to very serious violence, but all signs are that it will,” said Maj. Gen. Turhan Abdul Rahman Yasif, deputy chief of the province’s police force.

A United Nations report last month offered several recommendations to reduce tensions, including making Kirkuk a region jointly administered by Iraq and Kurdistan. Residents would ultimately hold a referendum to decide their future.

Earlier, KRG announced that this month oil exports from its regional fields would begin Monday from the Taq Taq and Tawke oil fields.

The Tawke field will begin exports at an initial rate of around 60,000 barrels per day, while the Taq Taq field north of Kirkuk will truck oil at the rate of 40,000 barrels per day.

http://www.aknews.com/en/aknews/4/43366/

Report: Iraqi Kurds to begin oil exports Monday

Oil will begin flowing from the semi-autonomous Kurdish region in northern Iraq on Monday, despite opposition from the Iraqi central government in Baghdad, local media reported Sunday.

'We have finalized all the preparations. A few days ago we conducted a test pumping, and now we are exporting oil officially as of tomorrow (Monday),' Mohammed Okotan, a project director from the Taq Taq oil company, told Baghdad's Aswat al-Iraq news agency.

The government in Baghdad has repeatedly said it does not recognise the legitimacy of the Kurdish export contracts.

'Iraq's oil ministry considers the contracts signed by the Kurdish government with the international oil companies illegitimate and illegal,' Iraqi Oil Minister Hussein al-Shahristani told Iraqi state t.elevision two weeks ago.

Okotan said the oil fields at Taqtaq produce about 50,000 barrels of oil per day, 10,000 of which go to the local market. The other 40,000 will travel by tanker truck to Kirkuk, and from there to Ceyhan, Turkey, via pipeline.

The Kurdish government has said it will export an additional 60,000 barrels of oil a day to Turkey from the Tawke field, near the city of Dohuk, some 460 kilometres north of Baghdad.

Kurdish officials say the agreements were legal, and were struck in accordance with the Iraqi constitution.

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Kurdistan region of Iraq begins exporting oil today for the first time

The Government of the Kurdistan region of Iraq on Monday, the export of one hundred thousand barrels of crude oil for the first time, according to officials in the fields of Taq Taq and Tauki.

Mohamed said Okutan project manager "never never", which is supervised by the company, "Energy" Turkish "The pump will start tomorrow from the Taq Taq oilfields," the rate of forty thousand barrels / day. "

He said, "will be pumping through the pipeline length of nine kilometers to the truck loading station, a capacity of eighty thousand tanks barrel."

He noted that "there is good access to the pumping rate of sixty thousand barrels / day the end of this year."

It is hoped to reach 120 thousand barrels / day, after two years.

And the quality of the oil Okutan said, "The quality of crude oil of excellent and free of water," he said "contains oil extracted gas used for power generation in the field of oil and there is no commercial quantities of it."

In turn, said Director Norman Mangou Norwegian company operating in the field Tauki in the Dohuk governorate would be to start the export of fifty thousand barrels a day from the field Tauki Monday.

"The field contains 14 wells, but not all tied to lines of production and export," adding that "the oil market by pipeline to the pumping station Fishkhabour (near the Iraqi-Turkish border) and meet the guidelines coming from Kirkuk to Turkey."

The Ministry of natural resources in the Kurdistan region of Iraq announced earlier this month to begin the export of one hundred thousand barrels of crude oil in June that the company is marketing "SOMO" of the central government and "the deposit of proceeds in the calculation of the Federal Government."

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Talabani, Barazani launch oil exports from Kurdistan

President of Iraq, Jalal Talabani, and President of the Iraqi Kurdistan, Massoud Barazani, on Monday started oil export from the region in a symbolic celebration at Arbil city.

The federal and regional presidents opened the export valve together in a step that ended a period of differences with the federal cabinet in Baghdad regarding the region’s merit to export oil.

“This step supports the whole of Iraq,” Nejervan Barazani, the Kurdish regional premier said in a speech during the ceremony attended by Aswat al-Iraq news agency.

“Oil contracts signed by Kurdistan should be perceived as a constitutional and legal right,” he said.

“Iraqis would have had better standards of living if the oil and gas law had been approved,” he explained.

“The delay in enacting the oil and gas law is due to political, not technical, reasons” he proceeded.

Barazani called on the federal government in Baghdad to “employ respect-based dialogue with all the provinces to solve problems.”

“The time of wars has gone,” he noted.

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