Kurdistan oil news. Total exports of crude oil: 103,145,225 barrels.
Kurdistan oil news New industry group warns of 'hostile business environment' APIKUR urging US, UK to help unblock Kurdish crude exports Owed payments, preserving contracts among chief concerns Caught in the middle of a ERBIL, Kurdistan Region - The resumption of oil exports through the Iraq-Turkey pipeline will resume once outstanding issues between the Iraqi federal government and the Kurdistan Regional By Charles Kennedy for the OilPrice. On Thursday, DNO, the Norwegian oil and gas operator, reported a 24-percent increase in revenue to USD 170 million in the third quarter of 2024, with operating profit also higher at USD 31 million, up from an operating loss of USD 3 million in the previous quarter. According to a statement from Sabah Sobhi, a member of the Oil and Gas Parliamentarian Committee, the visit is part of the agreements reached during the recent meeting of the Economic Council in Erbil. Shafaq News / The Iraqi Ministry of Oil revealed, on Saturday the latest developments in the work of technical committees between Baghdad and Erbil to resolve the issue of oil exports from the fields of the Kurdistan Region (KRI) "There is no trace of the oil revenues," said regional lawmaker Ali Huma Saleh, who was chair of the oil committee in Kurdistan's parliament until it was dissolved in 2023. news and Iraqi Prime Minister Mohammed Shia Al-Sudani said that country is studying a change to its federal budget that would enable Baghdad to pay international oil companies International oil companies in Iraq’s semi-autonomous region of Kurdistan denied reports that a deal was made to resume oil exports through the Iraqi-Turkey pipeline. Iraqi Kurdistan began exporting oil independently to Turkey without the federal government's consent in 2014, sparking reprisals from Baghdad. S. Kurdistan's oil producers are sending barrels to local refineries, while they wait for high-level talks with Baghdad to resolve. Skip to content By John Lee. With a whopping 45 billion gallons of Kurdistan oil reserves, the Iraqi-Kurds hold almost a third of all of Iraq’s 150 billion gallons of untapped black gold. For them, the struggle for a new The Iraqi parliament failed to finalize a deal with Kurdistan regarding oil exports due to disagreements over compensation costs, delaying a decision until the new parliamentary WASHINGTON — Syrian Kurdish groups have welcomed the ousting of President Bashar al-Assad's regime, viewing it as a historic opportunity for change after 54 years of rule LONDON, Dec 9 (Reuters) - A tanker carrying Iranian oil to Syria turned round in the Red Sea to head away from its original destination after the fall of Syrian President Bashar al Tens of billions of dollars have been lost since the Kurdistan Region’s oil pipeline exports were halted last year, the oil producing firms said on Saturday, affecting the people and governments Shafaq News/ The Kurdish Ministry of Natural Resources announced, on Thursday, that a delegation from the Iraqi Oil Ministry is currently in Erbil to discuss several issues. ERBIL (Kurdistan24) – The Iraqi Parliament is set to convene on Wednesday to deliberate on four significant legislative items, including the resumption of oil exports from the Kurdistan Region. Fri, Nov 15, 2024. Foreign oil companies demand 423 billion dinars monthly to extract oil from the Kurdistan Region. The international oil companies operating in Kurdistan are calling on U. 5% of global oil supplies has been stuck in limbo for more than a year By Julianne Geiger for the OilPrice. news and insight around the world. Highlighting the economic cost of the pipeline closure, Shafaq News/ The President of the Kurdistan Region, Nechirvan Barzani, in an interview with Al-Arabiya and Al-Hadath news channels, shed light on various issues concerning Iraq and the Region, including the disbursement of salaries to the Region's employees, oil revenues, and the relationship of Kurdish parties. Crude oil prices & gas price charts. Ghani The Iraqi federal government is making moves to take control of Kurdistan's oil and non-oil revenue, Breaking News: Iraq Parliament Ends Year With No Kurdistan Oil Deal. When Iraqi and Kurdish officials met in Baghdad this week over a long-running dispute that has halted oil exports from Iraq's semi-autonomous region of Kurdistan, insiders said the presence of Kurdistan’s crude oil exports – around 400,000 bpd shipped through an Iraqi-Turkey pipeline to Ceyhan and then on tankers to the international markets – were halted in late March by the It looks like Kurdistan’s oil exports could be suspended through next week when talks are set to resume in Baghdad. Fawzi Hariri, chief of staff for the Iraqi oil minister Hayan Abdel-Ghani expects to reach an agreement with the Kurdistan Regional Government (KRG) and foreign oil companies to resume oil production Iraq's oil minister announced that crude exports from the autonomous Kurdistan region to Turkey would resume on Saturday, following a final agreement with Baghdad. ERBIL, Kurdistan Region - Spokesperson for the Iraqi government on Tuesday said that Baghdad is “optimistic” about the restart of Kurdistan Region’s oil exports more than a year after it was Iraq needs to resolve billions of dollars in financial claims with Turkey before resuming oil exports via a Mediterranean port, threatening more delays in bringing almost half a million barrels a International oil companies operating in Iraq's semi-autonomous region of Kurdistan will not produce oil for pipeline exports until the issue of overdue payments estimated at nearly $1 billion is By John Lee. But the federal government’s latest proposal to resolve the deadlock with IOCs operating there has been overshadowed by other affairs. International oil companies operating in Iraqi Kurdistan have been excluded from ongoing discussions regarding the production and export of oil from the Region, according to the trade body representing them. A new Kurdistan Regional Oil Company (KROC) is to specialise in oil exploration, and the Kurdistan Oil Marketing Organization (KOMO) will concern itself with marketing of the oil. Turkey carried out more than 100 attacks between October 2019 and January 2024 on oil fields, gas facilities and power stations in the Kurdish-held Autonomous Elsewhere Syrian rebel forces say they have taken control of the oil-rich eastern city of Deir al-Zour from Kurdish forces as they try to secure the country's resources. If BP's presence is intended to incite the Kurds on behalf of the US to start a rebellion in Kurdistan, they will be Investing. Iraqi parliamentary committee denies $19 billion loss from Kurdistan oil export suspension Be the First to Get All the News . Iraq's Ministry of Oil has announced finalised oil export volumes for October, but has again not disclosed the value of oil exports for the month. The compensation will be paid in advance at Iraq's Parliament went into recess Dec. It looks like Kurdistan’s oil exports could be suspended through next week when talks are set to resume in Baghdad. ERBIL, Kurdistan Region - Iraq’s oil ministry has begun testing a repaired pipeline that will carry oil from Kirkuk to Turkey’s Ceyhan port, a source within the ministry told Rudaw on Friday. The Ministry of Natural Resources supervises oil and gas operations, and sets government policy concerning exploration, extraction, follow-up, planning, auditing, marketing and other related activities. It has now been just over a year since the Federal Government of Iraq imposed an embargo on oil exports from the country’s semi-autonomous region of Kurdistan. Shafaq News/Kurdistan's Council of Ministers convened its regular weekly meeting today, Iraqi Ministry of Oil and the Kurdish delegation on the 12th and 13th of November regarding the potential resumption of Kurdistan Region oil exports. Iraq’s gov’t Turkey had stopped extracting oil from the Kurdish region to its Ceyhan port after Iraq won an arbitration case. com. 67 percent share of Iraq’s $153 billion budget, as recently approved by the Iraqi Parliament. Regarding operations in the Kurdistan region of Iraq: Tawke License Oil exports from Kurdistan to Turkey through a pipeline that’s been shut for more than a year will take longer to resume, a Iraqi government spokesman said. Shafaq News/ On Wednesday, the Iraqi Parliament's Finance Committee, Atwan al-Atawani, discussed with Minister of Oil Hayyan Abdul Ghani ways to resolve outstanding issues with the Kurdistan Region and resume oil exports from the region. Despite the readiness of the Turkish and Kurdistan Regional Governments, Iraq is still not ready to resume oil exports. By John Lee. BAGHDAD, Nov 5 (Reuters) - Iraq's cabinet said on Tuesday it had ordered the semi-autonomous Kurdish region to immediately transfer its oil output to the country's state-run firm SOMO. Oil exports from Kurdistan to Turkey through a pipeline that’s been shut for more than a year will take longer to resume, a Iraqi government spokesman said. 31trn) for the Kurdistan Regional Government (KRG) and companies Rudaw is a broadcast and digital news network based in the Kurdistan Region of Iraq, publishing in English, Kurdish, Arabic, and Turkish. Crude oil flows of around 450,000 barrels per day (bpd) from northern Iraq to Turkey were halted last March following an From Rudaw. Oil price charts for Brent Crude, WTI & oil futures. Production in Iraqi Kurdistan contributed 34,900 boepd. News Kurdistan; Iraq; World; Report; Economic; Infographic; Opinion; About; كوردى عربی. Iraqi Oil Ministry Optimistic About Restarting Kurdistan Oil Exports . In a statement on Tuesday, the Ministry said it has invited the Kurdistan Ministry of Natural Resources and international oil companies (IOCs) operating in the region to ERBIL, Kurdistan Region - Russia would like to see the resumption of Kurdish oil exports, Moscow’s ambassador to Iraq said on Sunday, noting they directly benefit Russian oil companies. With 45 billion barrels of Federal Iraq has wrested control of oil exports from Kurdistan (once they restart), but it is struggling in its bid to exert control over production. 31trn) per month in revenue from oil sales. During the meeting, the Kurdish leader reaffirmed Kurdistan Region's readiness to resume crude flows in a way to ensure financial costs of the process are met and 4- Iraqi Kurdistan and oil resources in the region are integral part of Iraq. Iran: A Diabolic Bloodbee Aras Saaid . ENERGY INTELLIGENCE NEWS. December 8, 2024 Baghdad In what the news agency called a “formal appeal to the Iraqi Oil Minister”, OPEC has allegedly requested that the Kurdistan Regional Government (KRG) be allowed to export NEWS Kurdistan Iraq Middle East Diaspora World . The Iraqi Ministry of Oil has said it is prioritising the resumption of oil production in Iraqi Kurdistan, and the export of oil through the Iraq-Turkey Pipeline (ITP), "in line with national interests". OPINION . Prime Minister Mohammed Shia al-Sudani is expected to attend the session, underscoring the importance of Crude oil production in Iraq’s semi-autonomous region of Kurdistan is currently about 350,000 barrels per day (bpd), but it all goes to local buyers at steep discounts as the key export route Kurdistan’s crude oil exports – around 400,000 bpd shipped through an Iraqi-Turkey pipeline to Ceyhan and then on tankers to the international markets – were halted on March 25 by the The letter highlights that the halt in exports that affects between 400,000-500,000 barrels per day (bpd) of oil from Iraqi Kurdistan must be lifted because it puts at risk over US$10 billion of U ERBIL, Kurdistan Region - International oil companies (IOCs) operating in the Kurdistan Region on Sunday provided the federal government with copies of the samples of their contracts with the ERBIL, Kurdistan Region - A petroleum association on Tuesday said that the international oil companies (IOCs) in Kurdistan Region will not produce oil until it is clear how they are to be paid for By John Lee. US firms seek investment Kurdistan Region, urge oil export resolution: Expert 20-11-2024 Rudaw SHARE ON Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to cease output or divert crude to storage, where Iraq oil minister, KRG officials meet to discuss oil export resumption The Iraq-Turkey oil pipeline that once handled about 0. According to the sources within the ministry, OPEC specifically requested permission for the KRG to export DNO ASA, the Norwegian oil and gas operator, today announced that gross production from its operated Tawke license in the Kurdistan region of Iraq continues to climb, with the December to date average approaching 90,000 barrels of oil per day (bopd). Corruption Chokes In what appears to be a unilateral move by Baghdad with the aim of resolving the ongoing impasse preventing the resumption of oil exports via the Iraq-Turkey Pipeline (MEES, 31 March 2023), Iraq’s federal cabinet on 5 November agreed a proposal to amend the country’s budget law. Mark Stroh, who was recently appointed Baghdad (IraqiNews. The industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that its member companies won't be able to produce oil for pipeline The perilous relationship between Iraq and Kurdistan has soured once again, due to the latter's oil exports to Turkey. IDB Joins KRG’s ‘MyAccount Project’ Erbil, Istanbul ERBIL, Kurdistan Region - Oil producers in the Kurdistan Region on Sunday called on Baghdad to immediately resume oil exports via the Iraqi-Turkey pipeline (ITP), over ERBIL — The Kurdistan Region's acting Minister of Natural Resources has said that he expects oil exports from Kurdistan to resume early next year, with the cost of each Oil production in Iraq's semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to cease output or divert crude to By John Lee. The Baghdad is repairing a pipeline that could allow it to send 350,000 barrels per day (bpd) to Turkey by the end of the month, an Iraqi deputy oil minister said on Monday, a step likely to rile oil Crude oil exports from Kurdistan have now been halted for more than a year, after they were shut in in March 2023 due to a dispute over who should authorize the Kurdish exports. “We have not even seen any proposals” from Iraq or the Kurdistan Regional Government, the Association of the Petroleum Industry of Kurdistan, which represents the oil producers and The United States considers Kurdistan’s oil and gas industry an important source of supply, the newly appointed US Consul General to Erbil said on Monday. As the historical cultural region of a people, Kurdistan is a defined area which does not correlate with modern borders, incorporating parts of Turkey, Syria, Iraq, and Iran. Nov 15, 2024. Since March 25, 2023, the Kurdistan Regional Government (KRG) and The move could ease the long-running oil dispute between the governments of Iraq and the Kurdistan Region International Edition Podcasts Newsletters Follow us Alerts App Video Publicly reported figures from independent producers in Iraq's semiautonomous Kurdistan region suggest challenges in meeting Opec's a price structure that reflects a market with too much oil. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Tuesday said: "APIKUR member companies -- which Shafaq News/ Iraq's federal oil ministry on Tuesday called for an "urgent" meeting with the Kurdistan Regional Government Oil exports from the Kurdistan region via the Iraq-Turkey pipeline were halted on 23 March 2023 following a ruling by a Paris-based arbitration court in favor of Baghdad against Ankara. Insights. com) – The Deputy Oil Minister for Extraction Affairs, Basim Khudair, confirmed on Monday that the issue of oil exports from the Kurdistan region of Iraq will be resolved soon. Kurdistan oil exports to resume in 2025 with new production cost agreement "Previously, the KRG signed several agreements with the federal government regarding oil exports. "Today, I The north of Syria is the homeland of Syria's Kurds, the country's largest ethnic minority, who are also the US's closest ally in the country. . Gross ERBIL, Iraq, July 11 (Reuters) - Heading for Turkey to the north and Iran to the east, hundreds of oil tankers snake each day from near Kurdistan's capital Erbil, clogging the Iraqi region's often DUBAI, Oct 9 (Reuters) - A crude oil export pipeline from Iraq to Turkey is ready to resume operations, which have been suspended for the past six months, but flows have yet to restart. Sport. The two sides signed a preliminary agreement to Kurdistan Region’s long-suspended oil exports could be resumed later this year if the Iraqi parliament passes an amendment proposed by the federal government, Iraq’s foreign ERBIL, Kurdistan Region - With the goal of restarting oil exports that have been stalled for 18 months, the Iraqi parliament’s financial committee and the Kurdistan Regional Government (KRG) on Shafaq News/ The Norwegian oil and gas operator DNO reported a $35 million profit for the second quarter of 2024, driven by increased oil production in Iraqi Kurdistan, the Transparency and fairness have been the cornerstones of the Kurdistan Region’s investment laws and policies. Baghdad’s insistence that upstream producers sign new contracts with less attractive terms than their existing Production Sharing Contracts (PSCs) has been fiercely resisted both by the Kurdistan Regional Government According to APIKUR, restoration of oil exports through the ITP would provide Iraq and all stakeholders with approximately $1bn (ID1. Barzani reports News|Oil and Gas. International oil companies in Iraq’s semi-autonomous region of Kurdistan denied reports that a deal was made to resume oil exports through the Iraqi-Turkey pipeline. Shafaq News The Kurdistan Regional Government (KRG) awaits an agreement between the Iraqi government and the International Oil Companies (IOCs) to resume the Kurdistan Region’s oil exports, the Natural OPEC urges Iraq to resume Kurdistan Region's oil exports amid production dispute. Friction has intensified since the early 21st century when Kurdistan awarded Production Sharing Contracts (PSCs) to international oil companies. Iraq is currently exporting crude oil only via its southern oil export terminals, with around 450,000 barrels per day (bpd) of exports from the northern fields in Kurdistan shut in since March Containing oil and other waste produced by the sinking of the MV Kurdistan oil tanker in 1979, some attending an information session on the move Tuesday were left wanting more information on the movement process and BAGHDAD, Nov 5 (Reuters) - Iraq's cabinet said on Tuesday it had ordered the semi-autonomous Kurdish region to immediately transfer its oil output to the country's state-run firm SOMO. “We continue to see progress,” said Genel CFO Luke Clements. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Friday, issued Kurdistan oil and other natural resources make the land valuable to other actors and countries, and make it difficult for Kurds to establish power and economic independence. The Kurdistan region of Iraq has no ERBIL — The Organization of the Petroleum Exporting Countries (OPEC) has formally called on Iraq's Oil Minister, Hayan Abdulghani, to authorize the Kurdistan Regional Government (KRG) to resume oil exports through the Turkish port of Ceyhan. Last year, based on IOC reports and gathered data, oil production in the Kurdistan Region fell short of 100 million barrels, marking a significant decline from the 158 million barrels produced across all fields in 2022. The Kurdistan region is currently experiencing a severe liquidity crisis, attributed to the prolonged suspension of its oil exports. Financial reports from five public oil companies operating in the Kurdistan Region show that their crude oil production reached 173,000 barrels per day (bpd) in the second quarter of 2024, up from 170,000 bpd in the Gulf Keystone Petroleum flagged doubts on Thursday about its ability to continue as a going concern after announcing it had cut 55% of its expatriate jobs to slash costs amid the suspension of NEWS Kurdistan Iraq Middle East Diaspora World . The Kurdistan Regional Government (KRG) is reportedly setting up two new companies to manage its energy resources. The export halt, affecting over 400,000 barrels of oil per day, has lasted more than 10 months and is severely impacting the region's economy Iraq, OPEC’s second-largest oil producer, said it expects to soon reach a final agreement with the semi-autonomous region of Kurdistan and international oil companies there to restart oil exports. Oil exports have been an economic lifeline for Iraq’s Kurdistan region. 2024-02-13 06:00:06. 5 percent of the Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline were suspended after a ruling by a Paris-based arbitration court ruled in favor of Baghdad over Iraq is currently exporting oil only via its southern oil export terminals, with around 450,000 bpd of exports from the northern fields in Kurdistan shut in since March due to a Since 25 March, hundreds of thousands of barrels per day of oil flows crucial to the semi-autonomous Kurdistan region of Iraq (KRI) and important to the oil sector as a whole Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023 when a Paris-based arbitration court ruled in favor of Baghdad that Kurdistan-focused oil producer Gulf Keystone Petroleum has said it remains committed to returning excess cash to shareholders despite a Benjamin Chiou Sharecast Crude production in northern Iraq's semi-autonomous Kurdistan region is around 350,000 b/d, according to a local industry body, just 50,000 b/d below what it was before the closure of a Kurdistan hasn’t been able to export its oil via a pipeline for more than a year now, but crude continues to flow out of the semi-autonomous Iraqi region—on tank trucks to the border with Iran. “Previously, the KRG signed several agreements with the federal government regarding oil exports. Iraqi Parliament Discusses Amendment to Kurdistan Oil Production Costs . " By John Lee. Business. Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023 when a Paris-based arbitration court ruled in favor of Baghdad that Ankara had breached a By Ahmed Rasheed. Breaking News: Imperial Oil Books Lower Q3 Earnings as Crude Prices Drop Iraqi Kurdistan Oil Export Restart Still A Way Off By Julianne Geiger - Feb 16, 2024, 12:30 PM Oil companies operating in the Kurdistan region of Iraq increased their oil production despite the closure of the Iraq-Turkey oil pipeline. The resumption of oil exports from Iraq’s semi-autonomous region of Kurdistan through the Iraq-Turkey Pipeline (ITP) to the Turkish port of Ceyhan was discussed in detail Covering the latest oil and gas news including shale, lng, drilling, Kurdistan teetering on the brink as oil companies go unpaid Published 30 March 2020 9:26 GMT 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient Crude oil flows from Kurdistan could return to the market next year, after the Kurdistan ERBIL, Kurdistan Region - The international oil companies (IOCs) support the export of the Kurdistan Region’s oil through Iraq's State Organization for Marketing of Oil Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023 after a Paris-based arbitration court ruled in favor of Baghdad against Kurdistan’s Prime Minister Masrour Barzani has laid bare the staggering financial toll on the semi-autonomous region of Iraq, as oil exports remain suspended. The Association of the Petroleum Industry of Kurdistan (APIKUR) said it has not seen any proposals from Baghdad or Erbil Turkey and Iraq on Monday discussed technicalities on the resumption of crude oil exports from Iraq’s northern oilfields and from the semi-autonomous region of Kurdistan, but political-level The historic relationship between Kurdistan and Federal Iraq is deep-rooted and predates the recent international arbitration efforts, as depicted in Figure 1. Trump Picks Oil-Friendly Burgum to Lead US Interior. Iraq Becomes Second Largest Market for Iranian Exports . Total exports of crude oil: 103,145,225 barrels. Baghdad (IraqiNews. Iraq and Turkey have not reached an agreement yet on the resumption of crude oil exports out of the semi-autonomous Iraqi region of Kurdistan from the Turkish port of Ceyhan, Iraq’s Oil Minister The long-running dispute over how oil flows are handled in the semi-autonomous region of Kurdistan in northern Iraq has taken a number of legal twists that could put all business of IOCs at risk Shafaq News/On Thursday, the Iraqi Parliament's Oil, Gas, and Natural Resources Committee dismissed reports claiming that Iraq has incurred a $19 billion loss due to the suspension of oil exports from the Kurdistan Region. That lifts the projected fourth quarter 2023 figure to 65,000 bopd, up from 26,000 bopd in the third quarter ERBIL, Kurdistan Region - Russia’s Lukoil will own 80 percent of the massive Eridu oil field in southern Iraq’s Dhi Qar province after Japanese oil major Inpex Corporation sold half of its 40 Kurdistan’s Prime Minister Masrour Barzani has laid bare the staggering financial toll on the semi-autonomous region of Iraq, as oil exports remain suspended. This continues the practice of delayed or missing oil export data from the Ministry. The closure of the northern-Iraq-to-Turkey pipeline has resulted in a monthly revenue loss of almost $1bn (ID1. Deputy Prime Minister for Energy and Minister for Energy Affairs and Oil, Hayan Abdul-Ghani, Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023, when a Paris-based arbitration court ruled in favor of Baghdad that Ankara had breached a ERBIL — Iraqi Oil Minister Hayyan Abdul Ghani announced on Thursday that discussions are underway between the federal government and the Kurdistan Regional Government (KRG) to resume oil exports. The ruling sparked multi-level negotiations involving key players such as the dominant factions of the KRG, Baghdad, Ankara, Tehran, the US, Russia, and potentially China. Iraqi PM Mohammed al-Sudani visited Kurdistan this week. Foreign oil firms operating in Iraq's Kurdistan region are partly to blame for the delay in resuming crude exports after failing to submit contracts for revision, Iraq's oil ministry said. Ghani stated that oil production in Kurdistan currently stands between 375,000 to 400,000 barrels per day, aligning with Iraq's budget. CONTRIBUTED/PUBLIC SERVICES AND PROCUREMENT CANADA – LUKE Breaking news and analysis on energy, politics, security and life in Iraq. Iraq’s government is still studying a proposed amendment to the federal budget that would enable Baghdad to pay international oil companies working in Kurdistan, according to Oil Minister Hayyan Kurdish oil matters. (Bloomberg) --International oil companies in Iraq’s semi-autonomous region of Kurdistan denied reports that a deal was made to resume oil exports through the Iraqi-Turkey pipeline. Speaking to Kurdistan24 on Friday, Jaafar emphasized the strong support the US and Western countries have shown for Kurdistan’s oil Shafaq News/ Kurdistan’s Prime Minister Masrour Barzani stated, on Saturday, that the Region has incurred losses exceeding $19 billion due to the suspension of oil exports, while also denying the presence of Israeli bases in the Region. Shafaq News / The Association of the Petroleum Industry of Kurdistan (APIKUR) expressed its readiness on Tuesday to immediately commence discussions with both Erbil and Baghdad to resume oil exports in the Kurdistan Region. In the coming weeks, Kurdistan's oil and gas sector faces a pivotal moment that could reshape the region's geopolitical landscape. Shafaq News/ Oil Minister Hayyan Abdul Ghani said that the Iraqi government is still studying a proposed amendment to the federal budget that would enable Baghdad to pay international oil companies wo. Wednesday, ERBIL - Oil production in the Iraqi region of Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector, government documents seen by Reuters showed. However, the Iraqi budget law Crude oil production in the Kurdistan Region has increased despite the closure of its export pipeline, with plans for further expansion. Shafaq News 13h Iraq Oil & Gas Energy and Utilities PM Barzani, Turkiye’s former PM discuss strengthening ties between Erbil and Ankara. Therefore, the KRG wants Baghdad to upgrade the fee to other fields such as in Qayarra, where Kurdish officials say Iraq pays $30/b. Arez Barzinjyi . Iraq Parliament Ends Year With No Kurdistan Oil Deal The Iraqi parliament ended this year's session without finalizing a deal with the semi-autonomous region of Kurdistan for the exports of ERBIL — Today marks one year sine Kurdistan Region's oil exports were halted after a France-based arbitration court decided Turkey had violated a pipeline agreement with Baghdad by exporting the oil through Ceyhan Port. This represented a staggering 42 percent decrease in oil production and a corresponding 67 percent reduction in revenues compared to the previous year. 000000Z Be the First to Get All the News Iraqi Kurdistan began exporting oil independently to Turkey without the federal government's consent in 2014, sparking reprisals from Baghdad. Dana Gas has said it is resuming operations at its Khor Mor gas field in Iraqi Kurdistan "in a phased manner. Foreign oil firms in Iraqi Kurdistan are partially to blame for the delays to the resumption of exports from the semi-autonomous region of OPEC’s second-largest producer, Iraq’s Oil Ministry By John Lee. KRG reveals oil meeting results with Baghdad, addresses salary concerns 2024-06-12T16:37:44. “There is progress in these negotiations, and we hope to reach a final agreement within the coming days,” stated Iraq’s oil minister, Hayyan By John Lee. KRG to brief oil producers on talks with Baghdad The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss ERBIL (Kurdistan24) – The Kurdistan Regional Government (KRG) has halved its oil production, bringing output down to 140,000 barrels per day (bpd) as of September 2, 2024, in line with Iraq’s commitment to the Organization of the Petroleum Exporting Countries (OPEC), according to Acting Minister of Natural Resources Kamal Mohammed. However, the Iraqi budget law Rudaw is a broadcast and digital news network based in the Kurdistan Region of Iraq, publishing in English, Kurdish, Arabic, and Turkish. If BP's presence is intended to incite the Kurds on behalf of the US to start a rebellion in Kurdistan, they will be After a year of suspending oil exports from the Kurdistan Region through the Iraq-Turkey pipeline, Iraq has incurred a loss of $11 billion in revenue and $400 million in investments by APIKUR member companies. However, the company added that APIKUR members will "not be in a position to produce oil for pipeline exports until it is clear how they will be paid. BAGHDAD, Nov 12 (Reuters) - Iraqi oil minister Hayan Abdel-Ghani expects to reach an agreement with the Kurdistan Regional Government (KRG) and foreign oil companies to resume Iraqi Prime Minister Mohammed Shia Al-Sudani has said that disagreements over payments with producers are further delaying the reopening of a key pipeline, reported Bloomberg. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that its members would agree to direct sales agreements with the State Oil Marketing Organization (SOMO), which is controlled by Baghdad's Ministry of Oil. (SEBASTIAN MEYER/Metrography/Iraq Oil Report) Kate Dourian of Iraq Oil Report. 4- Iraqi Kurdistan and oil resources in the region are integral part of Iraq. Since 25 March, Ankara had ceased importing 450,000 barrels from the Kurdistan region, after an international tribunal found that Baghdad was correct to insist on overseeing all exports of Iraqi oil. He put the trade at over 300,000 bpd, higher than most other estimates. The Association of the Petroleum Industry of Kurdistan (APIKUR) has appealed to the United States Congress for immediate action to help resolve halted crude oil exports from the Kurdistan Region of Iraq (KRI). According . com -- Worries about a looming crude supply surplus reining in oil prices have been lingering for months, and now could be set to intensify as Iraq and Kurdistan appear to be closing in On March 2023, Turkiye halted shipments of KRI's oil to Ceyhan port following a Paris-based arbitration decision that obligated Ankara to pay compensation to Baghdad for breaching a 1973 pipeline agreement, allowing ERBIL — Kurdistan Region Prime Minister Masrour Barzani on Sunday met with Iraq's Oil Minister Hayan Abdel-Ghani in Erbil to review ongoing preparations for the resumption of Kurdistan's crude exports. The legal dispute between Iraq and Turkey, which led in May to the halting of the Kurdistan Regional Government's (KRG) only oil export pipeline, taking 450,000 Rudaw is a broadcast and digital news network based in the Kurdistan Region of Iraq, publishing in English, Kurdish, Arabic, and Turkish. A 13 November press release from Mr Sudani’s office says “efforts to resume oil exports” were top of the agenda, but the PM’s visit appears to have focused on BAGHDAD, NEW YORK: Iraq’s oil minister expressed hope on Wednesday his government can reach an agreement soon on the resumption of crude exports from the autonomous Kurdistan region to Turkiye. BAGHDAD, June 19 (Reuters) - The Iraqi oil minister said on Sunday that Iraq would implement a ruling from its federal court in February in which it deemed a Kurdish oil and gas law unconstitutional. For years, the KRG exploited ambiguity in Iraq’s constitution to export crude and keep the revenues as a way of The resumption of oil exports from Iraq’s semi-autonomous region of Kurdistan through the Iraq-Turkey Pipeline (ITP) to the Turkish port of Ceyhan was discussed in detail last week by Iraqi Oil Shafaq News/ Crude oil production in the Kurdistan Region has increased despite the closure of its export pipeline, with plans for further expansion. The Iraqi parliament failed to finalize a deal with Kurdistan regarding oil exports due to disagreements over compensation costs, delaying a decision until the new parliamentary session. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Crude exports from the Kurdistan Region to Turkey's Mediterranean port of Ceyhan were halted on March 25th of last year after Iraq won Salih’s press statement followed discussions held by a delegation from the Iraqi Ministry of Oil in Erbil to address several issues, Shafaq News reported. Baghdad is upping its remuneration offer to upstream operators in Kurdistan to Kurdistan Oil refineries Erbil air pollution ERBIL (Kurdistan24) - Erbil security forces, in collaboration with the governor's office committees, the Environmental Board, and Erbil police, conducted inspections of 44 oil refineries near Erbil on Thursday, resulting in the closure of non-compliant facilities and the arrest of their owners. Additionally, Kurdistan production would support the Iraqi Ministry of Oil’s target of increasing oil production to six million barrels per day by the end of 2027 Iraq is currently exporting oil only via its southern oil export terminals, with around 450,000 bpd of exports from the northern fields in Kurdistan shut in since March due to a dispute over who Baghdad is actively working to end the semi-autonomous status of Iraqi Kurdistan, aiming to fully integrate it into Iraq through legal and economic measures, including a new unified oil law. Containing oil and other waste produced by the sinking of the MV Kurdistan oil tanker in 1979, some attending an information session on the move Tuesday were left wanting more information on the movement process and better communication with the federal government. On Sunday, senior officials from the Iraqi Federal Government in Baghdad met with KRG Prime Minister Masrour Barzani and his team to discuss the resumption of oil exports via the Iraqi-Turkish Pipeline (ITP) the Turkish port of Ceyhan. Oil companies operating in the oil sector in Shafaq News/ Iraqi government spokesperson Bassem al-Awadi said on Monday Ankara is keen on facilitating Iraqi oil exports through the Ceyhan pipeline as Baghdad moves with steady steps towards resolving the long-standing oil dispute with the Kurdistan Regional Government (KRG). Mohammed explained that the resumption of oil exports is related to the expense of oil production in the Kurdistan region of Iraq, Rudaw News reported. Despite controlling Iraqi Kurdistan's oil sector post-2017 independence vote, Russia prefers to work with Baghdad's central government. Kurdistan’s energy sector 2021: Pumps at a well at the Tawke oil field in Iraqi Kurdistan operated by Norway's DNO. Iraq's Parliament to address budget law amendment resolving Kurdistan oil export issues. The Extractive Industry Transparency Initiative was incorporated as an article in KURDISTANNews Surge in autism cases exposes lack of support centers in Kurdistan Region 21/07/2024 News Erbil suspends residence Shafaq News/ The Association of the Petroleum Industry of Kurdistan In March 2023, Iraq won a longstanding case against Kurdistan's oil exports in the International Court of Shafaq News/ Recent indications from the Turkish government that oil may once more begin to flow along the Kirkuk-Ceyhan Pipeline after a months-long shutdown are Politics, Geopolitics & Conflict The Iraq i parliament has delayed a decision on Kurdish crude oil exports until January, prolonging a year-long suspension of deliveries amid Shafaq News/ Iraqi government official indicated that the resumption of oil exports from Kurdistan to Turiye via the closed pipeline, inactive for more than a year, faces extended Iraq is committed to OPEC decisions and after its second voluntary cut announced in December it is also committed to producing no more than 4 million barrels per day (bpd), oil By John Lee. Iraq And Kurdistan Close To Deal On Oil Exports Baghdad and Erbil are set to reach an agreement over crude oil exports from Iraq's semi-autonomous Kurdistan region within the next By John Lee. There are reports that international oil firms operating in Talks to resume oil shipments have stumbled, and since March 2023, crude oil flows along the Iraq-Turkey oil pipeline, which formerly handled around 0. Turkey and Kurdistan edge closer to resuming oil exports. Published On 2 Apr 2023 2 Apr 2023. DNO has reported an average net production of 52,600 barrels of oil equivalent per day (boepd). This led to a campaign by the Iraqi oil ministry and SOMO against Kurdistan-based operators and service companies, as well as traders handling Kurdish oil, warning of legal action if they handled the oil without their consent, and bringing suit in Iraqi courts – which annulled four contracts – against some of them. However, the Iraqi budget law set oil extraction and transportation costs at $6 per barrel, which became a major obstacle to oil exports. In a statement to the Abu Dhabi Securities Exchange on Wednesday, the company said: "Based upon concrete actions which have been taken by the Government of Iraq and the Kurdistan Regional Government to significantly strengthen Iran News: Regime’s Survival Tied to Oil Smuggling Networks, Say Reuters and Bloomberg Reports National Council of Resistance of Iran 08:55 Fri, 06 Dec Kirkuk's environmental crisis: rising concerns over oil industry's impact Shafaq News 07:29 Fri, 06 Dec Politics, Geopolitics & Conflict. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has denied claims by government officials that an agreement has been reached to resume oil exports through the Iraq-Turkey Pipeline (ITP). Crude oil flows from Kurdistan could return to the market next year, after the Kurdistan regional government and the central Iraqi government in Baghdad agreed a new production sharing agreement that satisfies both sides. Iraq’s semi-autonomous region of Kurdistan has cut its oil production by half upon request from Baghdad, as the second-largest producer in OPEC tries to meet its output quota. In light of this situation, Kurdish lawmakers and Iraqi politicians acknowledge that the KRG has no alternative but to accept a 12. Kurdistan’s Regional Government (KRG) Tags: Baeshiqa, DNO, featured, Genel Energy, Iraq Oil Production News, KRG, Kurdistan News, Norway, oil revenues, Peshkabir, Tawke, Turkish Energy Company (TEC) Baghdad Revises Oil Export Offer to Iraq’s federal government and the Kurdistan Regional Government (KRG) have reached an initial agreement to resume northern oil exports this week, a KRG spokesman has said. Barzani reports the region has lost DNO's DNO oil production in the semi-autonomous Kurdistan region of Iraq has "largerly recovered" from the key export pipeline shutdown almost a year ago, but is now sold locally at a discount, the Norwegian company said on Thursday. In an operational and corporate update issued today (Wednesday), the operator of the Shaikan Field in the Kurdistan Region of Iraq added that a number of key details remain outstanding regarding payment surety for future oil exports, the repayment Norwegian oil and gas operator DNO ASA has announced a continued rise in gross production from its Tawke license in the Kurdistan region of Iraq, with the December average approaching 90,000 BP will team up with the government of Iraq to rehabilitate and develop four oil and gas fields in the northern region of Kirkuk. Latest news for Kurdistan, or Greater Kurdistan, a geo-cultural territory in western Asia where Kurds and Kurdish culture have been historically centred. Gulf Keystone Petroleum (GKP) has said its near-term local sales outlook is strong. com) – The spokesperson of the Association of the Petroleum Industry of Kurdistan (APIKUR), Myles Caggins, revealed on Saturday that APIKUR member companies are eager to sell Iraq was forced to halt around 450,000 barrels per day (bpd) of crude exports, or half a percent of global oil supply, from the Kurdistan region (KRI) on Saturday through a pipeline that runs from Turkey signals readiness to resume oil exports from Iraqi Kurdistan, with negotiations underway to restart the flow through Ceyhan port. Subhi emphasized that while the UN and European nations such as Turkey, France, and Italy, have officially requested the resumption of Kurdish oil exports, OPEC's stance had not been formalized until now. Financial reports from five public oil companies operating in the Kurdistan Region show that their crude oil production reached 173,000 barrels per day (bpd) in the second quarter of 2024, up from 170,000 bpd in the previous quarter. Iraq, the second-largest oil producer within OPEC, announced that it expects to finalise an agreement soon with the semi-autonomous region of Kurdistan and the international oil companies operating there to restart oil exports. ERBIL — The United States is committed to global energy security, including resuming oil exports from the Kurdistan Region, according to Bahroz Jaafar, president of the Mediterranean Institute for Regional Studies (MIRS). The Iraqi Oil Ministry has responded to criticism from the trade body representing international oil companies (IOCs) operating in Iraqi Kurdistan, as they mark the one-year anniversary of the closure of the Iraq-Turkey Pipeline (ITP) connecting northern Iraq with the Mediterranean port of Ceyhan. 9 without holding a second reading or vote on a Cabinet proposal to amend the budget law to pay Kurdistan's oil-producing companies, Rudaw is a broadcast and digital news network based in the Kurdistan Region of Iraq, publishing in English, Kurdish, Arabic, and Turkish. Exploration & Production, International News, Iraq, Kurdistan, NEWS, oil, OPEC, pipeline, Turkey. Energy news covering oil, petroleum, natural gas and investment advice Shafaq News/ A delegation from Iraq's Federal Ministry of Oil is scheduled to visit the Kurdistan Region in the coming days to discuss oil-related matters. Exports from the oil fields in [] By John Lee. Find us on: By John Lee. Congress for immediate action to help resolve halted crude oil exports from the semi News. Iraqi’s semi-autonomous region of Kurdistan has cut its oil production by half upon request from Baghdad, as the second-largest producer in OPEC tries to meet its output quota. DNO has confirmed that production continues to increase at its fields in Iraqi Kurdistan, with output so far in the fourth quarter averaging double the level of the third quarter. The Iraqi Cabinet approved a budget amendment to compensate the KRG for oil production and transportation costs in the region. hjblsmkjfrurviaucprhbsejipqandapdpgtwodiiusaxltfbt