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Kurdistan oil back down and "BP" cancel two shipments
Wednesday 24-06-2015
Twilight News / BP, was forced to cancel Thiebsa downloads of Iraqi oil from the Turkish port of Ceyhan in a new sign of the problems hampering shipments amid debate between the Kurdistan region and Baghdad on exports and budget payments.
According to traders and shipping data Kurdish and Iraqi crude flows into the tanks did not the Iraqi Oil Marketing Company (SOMO) for the tenth consecutive day on Wednesday.
Trade sources said that BP was forced to cancel two shipments, although the Spanish Thiebsa had to cancel a shipment after it was scheduled to received at the end of June due to insufficient oil in tanks Sumo.
The situation is a repeat of what happened in early June when the Kurdistan Region not pumping crude in tankers Sumo for several days, prompting sources in the market to say that the Irbil could resume selling oil independently on a large scale as it did in 2014.
Independent sales fell a sharp decline in December 2014 after Baghdad and Erbil reached an agreement under which the Kurds issued 550 thousand barrels per day of oil through the Sumo in exchange for a full resumption of the payments budget.
Since then, the two sides exchanged accusations of violating the agreement which has accused Baghdad Erbil supplying quantities of oil is less than the agreed while Erbil says that Baghdad did not pay its share of the budget.
The Kurdistan Regional Government official said Erbil is still committed to the agreement despite non-compliance with Baghdad and turned it over five million barrels of oil to Sumo since the beginning of June.
Some Kurds of Representatives and called for parliament to cancel the agreement by 15 June unless paid Baghdad.
But after a disruption to exports in early June, officials in Baghdad and Erbil, said they remain committed to the agreement of December and stops attributed to different technical factors.
The total Iraqi oil pumping rate of Ceyhan via 550 thousand barrels per day in recent months, enough to load one tanker medium-sized daily. But according to the shipping source Sumo allocations did not exceed one tanker load in the last ten days.
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Wednesday 24-06-2015
Twilight News / BP, was forced to cancel Thiebsa downloads of Iraqi oil from the Turkish port of Ceyhan in a new sign of the problems hampering shipments amid debate between the Kurdistan region and Baghdad on exports and budget payments.
According to traders and shipping data Kurdish and Iraqi crude flows into the tanks did not the Iraqi Oil Marketing Company (SOMO) for the tenth consecutive day on Wednesday.
Trade sources said that BP was forced to cancel two shipments, although the Spanish Thiebsa had to cancel a shipment after it was scheduled to received at the end of June due to insufficient oil in tanks Sumo.
The situation is a repeat of what happened in early June when the Kurdistan Region not pumping crude in tankers Sumo for several days, prompting sources in the market to say that the Irbil could resume selling oil independently on a large scale as it did in 2014.
Independent sales fell a sharp decline in December 2014 after Baghdad and Erbil reached an agreement under which the Kurds issued 550 thousand barrels per day of oil through the Sumo in exchange for a full resumption of the payments budget.
Since then, the two sides exchanged accusations of violating the agreement which has accused Baghdad Erbil supplying quantities of oil is less than the agreed while Erbil says that Baghdad did not pay its share of the budget.
The Kurdistan Regional Government official said Erbil is still committed to the agreement despite non-compliance with Baghdad and turned it over five million barrels of oil to Sumo since the beginning of June.
Some Kurds of Representatives and called for parliament to cancel the agreement by 15 June unless paid Baghdad.
But after a disruption to exports in early June, officials in Baghdad and Erbil, said they remain committed to the agreement of December and stops attributed to different technical factors.
The total Iraqi oil pumping rate of Ceyhan via 550 thousand barrels per day in recent months, enough to load one tanker medium-sized daily. But according to the shipping source Sumo allocations did not exceed one tanker load in the last ten days.
[You must be registered and logged in to see this link.]
