Kurdistan oil exercised its independence despite Baghdad threat
Kurdistan oil exercised its independence despite Baghdad threat
08-11-2014 12:48 AM
Iraq’s Kurdistan Regional Government, said Friday it sold 34.5 million barrels of crude oil worth about $ 3 billion since January, despite opposition from the government in Baghdad independent of oil sales from the region.
He said the Kurdistan region in a statement that he would first batch worth 75 million dollars for companies producing oil for export and will provide other payments on a regular basis which led to the recovery of stock prices producers.
And include the oil-producing companies in the semi-autonomous Kurdistan region on Genel Energy companies and Gulf Keystone Petroleum and Afrin British and Norwegian DNO. Gulf Keystone’s shares rose more than six per cent of Genel’s shares jumped more than three per cent.
A statement by the Kurdistan Regional Government that sales revenues amounting to 2.87 billion dollars being handled as part of what he said ‘constitutional right’ to get 17 per cent of the Iraqi government revenues, which says that Baghdad had not paid since January.
Said Ayham Kamel director of the Middle East and North Africa Affairs at the Eurasia Group, said the Kurdistan Regional Government to do so to settle the dues of the budget that are not paid by Baghdad for nearly a year.
The statement came a day after Ashti Hawrami, Minister of Natural Resources in the Kurdistan region that oil exports from the region increased to about 300 thousand barrels per day and it is expected to reach about 500 thousand barrels per day early in 2015.
Kurdistan Regional Government reported that it shipped 21.5 million barrels of crude to the Turkish port of Ceyhan sent via tanker trucks 13 million barrels to the Turkish port of Mersin since January.
Territory government said it had received $ 2.1 billion in cash and $ 755 million of in-kind payments through refined petroleum products sales.
The Iraqi government has previously threatened to prosecute all of Kurdistan buys oil through a pipeline. The Iraqi authorities lifted in the month of May / May 2014 lawsuit against Turkey to the ‘International Jury’ on the back of the Kurdistan region to export oil to world markets without permission from Baghdad
The federal government accuses the Kurdistan region to sell oil outside the framework of Iraqi law and considers smuggling and theft of the wealth of Iraq. Spin raging today in a three-dimensional battle between the federal government on the one hand and each of the Kurdistan Region and Turkey on the other hand, the region’s oil exports.
The Iraqi government has refused to do the Kurdish region to export oil on the grounds that it is located exclusively within the specialist government authorities to the Iraqi Oil Marketing Corporation.
ikhnews.com
