Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kurds offer to export 100000 bpd oil to resolve 'impasse' with Iraq  Join our daily free Newsletter

MENAFN - Arab Times - 15/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab Times) Ghdad march 21 (afp): iraq's autonomous kurdish region pledged thursday to export 100000 barrels of oil per day through central government-controlled pipelines in a bid to resolve an impasse with baghdad ahead of elections. the kurds and the government are locked in a row over energy exports in which baghdad has choked off funds to the northern region draining its reserves as the two sides spar over a national budget that would penalise the kurds for failing to meet export targets as well as other issues tied to energy sector regulation. as a 'goodwill gesture' the kurdistan regional government said on its website it 'has offered to make a contribution to iraq oil pipeline exports to give the negotiations the maximum chance of success.'

the krg contribution will be 100000 barrels per day from next month onwards the statement said adding that exports will continue 'while the negotiations are proceeding in a positive direction.' it added that the krg has not set any preconditions. earlier this year arbil shipped more than one million barrels of crude directly to turkey without baghdad's consent although the oil has not yet been sold on international markets. the decision by kurdish authorities was the latest in a years-long row between baghdad and arbil over energy and spurred the central government to partly cut off funding to the three-province region.

baghdad also complains that the kurds do not meet export targets set by the central government but still demand their full budget allotment. the decline in funding from baghdad has forced arbil to delay paying some government salaries. baghdad argues that all oil sales must be overseen by it and regards any independent exports as tantamount to smuggling. kurdistan which enjoys a high level of autonomy from baghdad and has its own security forces government and flag has also drawn baghdad's ire for unilaterally signing contracts with foreign energy firms. but the two sides appeared to be agreeing on the broad outlines for a permanent deal according to a senior us official.

such a deal would involve a high committee of representatives from the national oil ministry the kurdish region and other major oil producing areas to regulate the hydrocarbons sector and the automation of payments from baghdad to arbil. 'and then baghdad wants to see... that the kurds will continue producing and exporting and contributing revenues to the national budget base to the extent of their technical capacity... without political interference' said the official who spoke on condition of anonymity

the official acknowledged that the third point in particular remained 'tricky.'

'both sides have long-term grievances and complaints about what is owed and what is not owed' the official said. 'that's why it was very hard even just to get an initial step like this done.' 'it remains extremely extremely difficult. the political scene is super charged as we head into elections and... all the other challenges the country is facing.' in addition to disputes over natural resources the long-standing ambition of kurdish leaders to incorporate a swathe of territory stretching from iran to syria into their region against baghdad's strong opposition is another major point of contention. diplomats and officials say the multitude of disputes are among the biggest long-term threats to iraq's stability.


 


Arab Times




  MENA News Headlines
 Oct 30 2014 - UAE- Hawaii lava flow reaches home threatens townKhaleej Times
(MENAFN - Khaleej Times) Red-hot lava from a slow-erupting volcano has reached a home on Hawaiis Big Island and is threatening an entire town emergency officials said Tuesday. The lava flow from ...

 Oct 30 2014 - UAE- Slow-moving lava creeps closer to Hawaii homesKhaleej Times
(MENAFN - Khaleej Times) A branch of the molten stream was less than 100 yards (90 meters) from a two-story house.This photo provided by the US Geological Survey shows the lava flow from Kilauea ...

 Oct 30 2014 - UAE- Mudslide buries Sri Lanka tea labor quartersKhaleej Times
(MENAFN - Khaleej Times) The military has mobilized troops to help in the rescue operations. Colombo Sri Lanka: A mudslide in central Sri Lanka has buried several rows of workers’ houses at a ...

 Oct 30 2014 - UAE- 10 people killed 200 missing in Sri Lanka after mudslidesKhaleej Times
(MENAFN - Khaleej Times) A local hospital source said that two men and a woman rescued from the mud had been brought in for treatment. Colombo: Around 200 people were reported missing and 10 ...

 Oct 30 2014 - UAE- Heavy rains continue in Telangana two deadKhaleej Times
(MENAFN - Khaleej Times) Two women both sisters were washed in the swirling waters of a rivulet near Madgula village in Guntur district of Andhra Pradesh as heavy rains caused by Cyclone Nilofar ...

 Oct 30 2014 - UAE- Magnitude 6.1 earthquake hits near Samoa: USGSKhaleej Times
(MENAFN - Khaleej Times) A police spokeswoman in the capital Apia told Reuters by telephone that the quake had not been felt in the city and that she was unaware of any damage. Sydney: A 6.1 ...

 Oct 30 2014 - Ottawa shooting was madmans last desperate act says motherKhaleej Times
(MENAFN - Khaleej Times) Susan Bibeau said her estranged son had wanted to travel to Saudi Arabia to study Islam and the Quran not Syria to join militant fighters. Michael Zehaf-Bibeau killed by ...

 Oct 30 2014 - UAE- Kidnapped women used by Boko Haram on front line: Rights groupKhaleej Times
(MENAFN - Khaleej Times) Suspected militant fighters kidnapped about 30 children including girls as young as 11 in Borno state at the weekend. Lagos: Boko Haram has used kidnapped young women and ...

 Oct 30 2014 - Ottawa gunman made video before attack: PoliceKhaleej Times
(MENAFN - Khaleej Times) Michael Zehaf-Bibeau who was shot dead by police in the parliament in Ottawa after killing a soldier Wednesday was mentally ill and wanted to die his mother wrote in a ...

 Oct 30 2014 - UAE- Nepal bus crash kills 14 injures dozens: PoliceKhaleej Times
(MENAFN - Khaleej Times) Among those killed Friday were two people including a woman who was part of a group heading to the Langtang trekking area. Katmandu: A Nepal bus packed with people ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help