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Figures and reasons .. high oil sales to independent Kurdistan in July
Wednesday 05-08-2015 | 3:31:34
Twilight News Ministry of Natural Resources / said in the Kurdistan Regional Government it exported an average of 516 745 barrels per day of oil through the pipeline owned by the Government to Kurdish Turkey in July, less than ten per cent from the previous month exports.
The ministry said in its monthly report and seen by Twilight News that the quantities of these have been converted 71 017 barrels of oil per day, on average, to the warehouses of the Iraqi State Oil Marketing Organization SOMO in the same period which is less by half from the previous month.
She noted that the independent exports have increased as a result of Baghdad not to fulfill its obligations under the agreement, which came into force earlier this year and was included in the fiscal budget law.
It reported that the federal government has not acted to the region so far delayed allocation of the monthly budget which is paid to resort to direct oil sales.
The ministry said in its report that the provincial government is still determined to build on the 2015 budget with Baghdad under which it agreed to transfer up to 550 thousand barrels per day to the allocation of Baghdad Sumo versus 17 percent of the budget payments to Erbil agreement.
The ministry said that in July and the Kurdistan Regional Government continued to increase direct sales of oil in Ceyhan, Turkey to compensate the region for the lack of budget allocations from the federal government in Baghdad and continue to pay the debt accumulated in 2014 as a result of prepayments direct oil sales.
She noted that what you get from the Government of the Territory sell their oil directly lower than the 17% of the region's share of the budget, but that the greater amount and clear by the amounts sent by the federal government to the province.
The ministry also said the regional government will allocate part of the direct revenues from oil sales to foreign companies produced starting from September in an apparent attempt to reassure foreign oil companies in the region.
It showed that the privatization process will begin in September, could rise in early 2016 with increased exports.
But the ministry pointed out that the international oil companies fulfilled its obligations towards the government and the people of Kurdistan and participated in raising the level of the region's economy.
Most of July's exports came from the province of Kurdistan fields and the Iraqi government have contributed to the North Oil Company in Kirkuk by only 128 981 barrels per day.
The ministry said the Kurdistan Regional Government is pleased cooperation and coordination level institutions the federal government as the North Oil Company Sumo competent display and sale of Iraqi oil, and that the Government of the Territory will continue to provide facilities for the North Oil Company to export oil from the Kirkuk oil fields through the pipeline transportation of Kurdistan oil to Ceyhan international port.
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Wednesday 05-08-2015 | 3:31:34
Twilight News Ministry of Natural Resources / said in the Kurdistan Regional Government it exported an average of 516 745 barrels per day of oil through the pipeline owned by the Government to Kurdish Turkey in July, less than ten per cent from the previous month exports.
The ministry said in its monthly report and seen by Twilight News that the quantities of these have been converted 71 017 barrels of oil per day, on average, to the warehouses of the Iraqi State Oil Marketing Organization SOMO in the same period which is less by half from the previous month.
She noted that the independent exports have increased as a result of Baghdad not to fulfill its obligations under the agreement, which came into force earlier this year and was included in the fiscal budget law.
It reported that the federal government has not acted to the region so far delayed allocation of the monthly budget which is paid to resort to direct oil sales.
The ministry said in its report that the provincial government is still determined to build on the 2015 budget with Baghdad under which it agreed to transfer up to 550 thousand barrels per day to the allocation of Baghdad Sumo versus 17 percent of the budget payments to Erbil agreement.
The ministry said that in July and the Kurdistan Regional Government continued to increase direct sales of oil in Ceyhan, Turkey to compensate the region for the lack of budget allocations from the federal government in Baghdad and continue to pay the debt accumulated in 2014 as a result of prepayments direct oil sales.
She noted that what you get from the Government of the Territory sell their oil directly lower than the 17% of the region's share of the budget, but that the greater amount and clear by the amounts sent by the federal government to the province.
The ministry also said the regional government will allocate part of the direct revenues from oil sales to foreign companies produced starting from September in an apparent attempt to reassure foreign oil companies in the region.
It showed that the privatization process will begin in September, could rise in early 2016 with increased exports.
But the ministry pointed out that the international oil companies fulfilled its obligations towards the government and the people of Kurdistan and participated in raising the level of the region's economy.
Most of July's exports came from the province of Kurdistan fields and the Iraqi government have contributed to the North Oil Company in Kirkuk by only 128 981 barrels per day.
The ministry said the Kurdistan Regional Government is pleased cooperation and coordination level institutions the federal government as the North Oil Company Sumo competent display and sale of Iraqi oil, and that the Government of the Territory will continue to provide facilities for the North Oil Company to export oil from the Kirkuk oil fields through the pipeline transportation of Kurdistan oil to Ceyhan international port.
[You must be registered and logged in to see this link.]
