RE: Shorts6 Oct 2023 20:13
I think they're aware that the contracts are not resolved yet and are shorting higher to sell back on the frustration dips, I don't buy the 'may never be sorted' statement, but the guy from HKN in that great interview that was posted yesterday was clear there's no agreement, yet.
Iraqi Institute of Energy
Rudaw Digital
The head of the Iraqi Institute of Energy says it is unlikely that the Kurdistan Region will resume oil exports next week. He said Turkey is using the presence of the Ceyhan oil pipeline as pressure on Iraq.
On Thursday, 5.10.2023, Yashar Maliki, an economist and president of the Iraqi Institute for Energy, was the guest of Rudaw's 21:30 economic bulletin, presented by Bakhtiar Abdulaziz, and highlighted a number of issues regarding the export of oil from the Kurdistan Region.
Yashar Maliki says the export of oil from the Kurdistan Region is now a distant possibility, if not impossible; Turkish Energy Minister Alparslan Bayraktar's recent statement that the Iraq-Turkey oil pipeline is ready to put pressure on the Iraqi government to isolate Baghdad in terms of financial and legal disputes.
"Turkey knows better than anyone else that Iraq cannot use the Iraq-Turkey oil pipeline to its full potential, creating legal and financial problems for Iraq," he said.
Maliki said the reason why Iraq cannot export all its oil through the pipeline is the 1973 pipeline agreement, which was amended in
The head of the Iraqi Institute of Energy said that Baghdad has not yet reached a trade agreement with international oil companies operating in the Kurdistan Region. The companies cannot operate with the money allocated to them in the budget and Baghdad does not recognize the production sharing agreements between the Kurdistan Regional Government and these companies.
The expert added that there are still many problems to be solved; Legal problems between Baghdad and Ankara, because three cases are currently pending between the two governments. At the same time, he said, there are financial disputes over compensation; Any party claiming must be compensated.
Maliki said Turkey believes the Kurdistan Regional Government owes Turkish companies for the use of the Iraq-Turkey pipeline, "so there are some mixed problems on the issue.
The expert referred to Iraqi Prime Minister Mohammed Shia Sudani's earlier statement that they want to separate financial and legal issues from technical issues in the negotiations.
The head of the Iraqi Institute believes that Turkey took its time through technical problems and now dominates Iraq, because Iraq can not export oil through the pipeline as necessary because of OPEC Plus measures and Turkey says it is ready, which has led to Turkey's dominance over Iraq.
According to the president of the institute, although negotiations and meetings continue, but have not been able to resolve the basic issues.
According to the agreement, Iraq must export 35 million tons of oil an