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Hayyan Abdul Ghani explains the contents of the meetings of the Iraqi Oil Ministry's high-level delegation in Erbil over the past two days.

The aim of the delegation's visit is to resolve issues with the Ministry of Natural Resources in order to resume exports and oil production in the Kurdistan Region.

Kurdistan Regional Government (KRG) oil exports have been suspended since March 25 following a ruling by the International Court of Arbitration in Paris following a complaint filed by Iraq against Turkey.

The Iraqi oil minister told Rudaw that he had held an extensive meeting with the Ministry of Natural Resources, senior officials and technical advisors to discuss the nature of the oil contracts signed with extractive companies.

“As you know, contracts are production sharing, but for us as the federal government, according to the constitution, we cannot deal with such contracts in this way The nature of these contracts was explained to the Ministry of Oil with the federal government department, the regional government department and the companies department.”

The Kurdistan Regional Government (KRG) has suspended oil exports for 235 days, causing a loss of more than $7 billion in Iraqi revenue.

Https://www.rudaw.net/sorani/interview/14112023

Didn't last long, but at end they said they are very encouraged by the developments and voiced optimism of pipeline opening, no quibble words about contracts 🤔

Well Genel have set their stall out, they are not going to be drawn on pipeline questions. Will still have a listen in but not expecting any dropped information.

Ah ok I see what you mean.

We don't really know the currently touted terms othe than "Adjustments being made to comply with Iraq law", I think the biggest challenge will be to who owns the oil, the oil in the ground, the producer % ownership or are they a service provider producing for a fee, if the 'ownership' is lost, then it's possibly bye bye to a takeover, but otherwise it's all about numbers and how profitable it is, and we don't know them yet. Happy for oil knowledgeable people to correct that.

Congratulations 🏆 Genel presentation 10am tomorrow on Investor Meet, they might not be able to say much about negotiations in progress, but will be listening in.

BlackSteel. I think you're spot on, it's all in the details now.

Last stands / face saving / lines drawn / pockets lined..... Who's blinking and who isn't 👀

Nail biting time, will the new arrangements be close enough to the contracts =: Even if a little worse the legitimacy should reap rewards 🤞🤞🤞

.77 out, you're fired 🤣 Good day today, there's still going to be adventures but my Spidey Sense is tingling for a nice bottle of Lambrusco for Christmas 🎄

The biscuits are out! https://twitter.com/K24English/status/1724043319175442885?t=HP0J2utB5D4GBM8STLQc2w&s=19

Https://shafaq.com/en/Kurdistan/Iraqi-government-delegation-to-address-oil-issues-in-Kurdistan-Region

Shafaq News/ A delegation from the Iraqi government, led by the Oil Minister, is scheduled to visit Erbil, the capital of the Kurdistan Region, on Sunday.

The official spokesperson for the Kurdistan Regional Government, Peshwa Hawrami, said, "Federal Oil Minister Hayan Abdul-Ghani, along with his accompanying delegation, is set to visit the Kurdistan Region tomorrow."

Hawrami highlighted that this visit follows an agreement between the Prime Minister of the Kurdistan Region, Masrour Barzani, and Iraqi Prime Minister Muhammad Shia Al-Sudani to address issues related to the oil file.

"The primary focus of the meetings will revolve around the challenges concerning oil production expenses and the procedures for resuming the export of oil from the Kurdistan Region," he noted, adding that "the delegation is expected to remain in the Region for two to three days."

Oil is Iraq's most valuable natural resource. It accounts for over 90% of the country's exports and is a significant source of government revenue. The oil fields in Kurdistan are precious and have been a source of conflict between the Kurdish and Iraqi governments.

The Kurdistan Regional Government (KRG) and the Iraqi government have been at odds over the control of oil revenues for many years. The KRG has argued that it should have the right to control its territory's oil and sell it independently. The Iraqi government has argued that the oil belongs to all Iraqis and that the KRG should not be allowed to sell it independently.

Very interesting indeed, and they're publicising it rather than behind the scenes so I'm liking that.

No it's Jacque, no relation 🥖

Www.kurdistan24.net/en/story/33103-Prime-Minister-Masrour-Barzani-receives-Iraqi-Prime-Minister-Sudani-in-Erbil

Getting very much to end game now....

According to Dana Gas, production may reach 750 million cubic feet next May if the K250 is completed and its financial problems are resolved.

Rudaw Digital

The Kurdistan Regional Government (KRG) owes Pearl Petroleum Group $260 million, an official said.

Iraq Oil Report, a website dedicated to Iraqi fuel news, has published a report on the problem of laying a gas pipeline from the Kormor gas field to the Kirkuk gas power plant.

According to the website, neither the Iraqi Oil Ministry nor any of the Pearl Group companies have announced a final agreement on the sale of gas, but a senior official of the Pearl Group of Companies said, "The main reason for negotiations with Baghdad ."

An official of the company told the website that they currently have $260 million in financial entitlements with the Kurdistan Regional Government.

"We can and should sell gas to someone who can pay us what we deserve," he said.

According to a statement issued by the Iraqi Oil Ministry on November 5, 2023, the technical teams of the oil pipeline company, a pipeline to transport gas from the Kormor field in two stages and a length of 1.50 meters For a new power plant in Kirkuk to increase electricity production.

The Iraqi Ministry of Natural Resources said in a statement that the pipeline has been in existence since the 1980s and was previously used by Dana Gas to transport condensate.

According to the statement, "In the meeting on 2-10-2023, we told Dana Gas, they must not export gas from the Kurdistan Region to any place inside or outside the country without our consent.

“Normally, the Kurdistan Regional Government has the right to approve all [gas] sales agreements, but it must either do so or if it needs gas itself Buy it at the same price and conditions.”

"But now the Kurdistan Regional Government has violated its financial entitlements because it owes Pearl $260 million," he said.

"Until it meets its financial obligations, the Kurdistan Regional Government has basically no rights to any gas we produce," the Pearl official said.

Kormor gas field is located in Qadir Karami township of Chamchamal district of Sulaimani province. Dana Gas and UAE Crescent Oil are investing.

On July 13, 2023, the Iraqi Council of Ministers decided to authorize the Oil Ministry to purchase natural gas from the Kormor field to meet the domestic needs of the plants that use gas to generate electricity.

Following the decision of the Iraqi Council of Ministers, Oday Awad, a member of the Iraqi parliament filed a complaint against the decision in the Federal Supreme Court.

The Kurdistan Gas Project was established in 2007, when Dana Gas and Crescent Oil signed a contract with the Kurdistan Regional Government to obtain the rights to explore, develop, produce, market and sell oil products at both the Kormor and Chamchamal stations in the Kurdistan Region.

The current production level of the Kormor field is 500 million cubic feet of gas, while the Kurdistan Region needs 800 million cubic feet, which means that the production level of the field is not enough to meet dome

now did he just say removing or was it auto translate 🤔

america: we are closely following the process of starting the export of oil to the kurdistan region

author_image kurdistan24 erbil

5 hours

kurdistan america mark straw kurdistan petroleum iraq somo

news center (k24) - the us consul general in the kurdistan region announced that they are closely following the process of starting the export of oil to the kurdistan region.

the minister of electricity and natural resources of the kurdistan regional government, ***** mihemed salih, welcomed the american consul general in the kurdistan region, mark straw.

according to the statement of the ministry, the consul general of the united states expressed his pleasure for investing in the fields of electricity, energy and oil in the kurdistan region.

regarding the start of the kurdistan region's oil export, straw announced that the suspension of oil had a negative impact on the kurdistan region's income and public sector.

he also said: "solving the revenue problem and removing iraq's oil and gas law is one of the priorities of politics and washington's agenda."

the minister of electricity and natural resources thanked the united states for its efforts to start the export of kurdistan oil and to pass the federal oil and gas law in cooperation with the kurdistan region.

since march 25, the export of oil from the kurdistan region through ceyhan port in turkey has stopped.

according to the agreement between erbil and baghdad, the kurdistan region must deliver 400,000 barrels of oil per day to somo, and in return, the financial rights of the kurdistan region will be provided by baghdad.