Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Iraqi Kurds slam Baghdad legal action over oil shipment  Join our daily free Newsletter

MENAFN - AFP - 25/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Iraq's Kurdistan region on Sunday slammed legal action filed by the central government against Turkey, saying it was illegitimate and likely to fail, in the latest sign of worsening ties with Baghdad.

The Kurdish Ministry of Natural Resources statement came just days after Baghdad's Oil Ministry filed a request for arbitration against Ankara at the Paris-based International Chamber of Commerce after crude from Kurdistan was exported to international markets via a Turkish port.

Relations between Iraq and its Kurdish region, and between Baghdad and Ankara, were already fragile and are likely to chill further over the row, with the latest shipments flying in the face of the Iraqi government's insistence that it has the sole right to sell its prized natural resources.

"The MOO (Ministry of Oil) is, with its behaviour, isolating itself... (and) potentially damaging Iraq's petroleum industry and Iraq's petroleum reserves," the statement said.

"The MOO is also... now prepared to damage Iraq's relations with Turkey and other friends of Iraq."

The statement said the arbitration request is "self-defeating" and "illegitimate", and that it would "not allow hollow threats from the MOO to interfere with the KRG's (Kurdistan Regional Government's) oil export regime."

It also acknowledged that Kurdish authorities had been "exporting oil by trucking through Turkey and Iran for many years," insisting it was done with the knowledge of the federal government.

Baghdad has branded the trucking of oil as "smuggling".

The dispute between Baghdad and Kurdh authorities centres around interpretations of Iraq's constitution, with both sides insisting they are behaving legally.

The central government insists it has the sole right to export Iraqi crude, and also says contracts between Kurdish authorities and foreign energy firms without its expressed consent are illegal.

But the row took on a new dimension after Turkey confirmed shipments of oil pumped from the autonomous northern Iraqi region and stored at Ceyhan port began on Thursday.

Iraq responded by filing the arbitration request on Friday, asking the ICC to order Turkey and its state-owned pipeline company to "cease all unauthorised transport, storage and loading of crude oil," and added it was seeking financial damages of more than 250 million (180 million euros).

Oil expert Ruba Husari said Baghdad's move "might not stop the exports immediately but it will increase the perception of risk of doing business with KRG."

"This will hurt many businesses and the business environment in the Kurdistan region," said Husari, the Dubai-based editor of www.iraqoilforum.com.

Washington has warned that the oil export move could destabilise Iraq.

The tensions come as Prime Minister Nuri al-Maliki looks to secure a third term in power after April 30 elections in which his bloc emerged with by far the most seats in parliament, though well short of a majority.

Maliki is likely to need some Kurdish support if he is to secure the seats necessary to win re-election, but the latest row threatens to further complicate any potential talks for government formation.


 


AFP




  MENA News Headlines
 Feb 9 2016 - Asian rebels in Aleppo Western blind spotAsia Times
(MENAFN - Asia Times) Militants of the Uzbek group Katibat al Taqhid wal Jihad fighting at Tal Bajir in southern Aleppo However as German intelligence pointed out over 95% of the fighters in ...

 Feb 9 2016 - Jordan to increase commercial, investment trades with AlgeriaMENAFN
(MENAFN) Jordan and Algeria plan to enhance the joint free trade agreement, increase commercial exchange volume and support establishing investments in both nations.Accordingly, both sides are ...

 Feb 9 2016 - Dubai's Falcon City to invest USD 2bn in new projectsMENAFN
(MENAFN) Dubai's Falcon City proclaimed the long-delayed project will attain new life this current year with almost USD 2bn in new developments.Moreover, the project viewed only almost tenth of the ...

 Feb 9 2016 - Lulu Group expands its hypermarket in OmanMENAFN
(MENAFN) Middle East retail Lulu Group spread its presence in the Sultanate of Oman through opening its newest hypermarket in Suwiaq, a coastal town in north east of the country.Furthermore, the new ...

 Feb 9 2016 - UAE- ENEC and TRANSCO sign deal for Barakah Nuclear Power PlantEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 9th February 2016 (WAM) -- The Emirates Nuclear Energy Corporation ENEC has signed the Connection and Interface Agreement C&IA with the Abu ...

 Feb 9 2016 - UAE- Remarks by World Bank Group President Jim Yong Kim at World Government SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 9th February 2016 (WAM)--World Bank Group President Jim Yong Kim has commended the UAE leaders for good governance that helped built the modern and ...

 Feb 9 2016 - Summit in UAE that will benefit the world: paperEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 9th February 2016 (WAM) -- A UAE newspaper has said that world attention remained focused on the UAE on Monday and for valuable reasons. "The ...

 Feb 9 2016 - UN appoints Special Coordinator on improving the United Nations response to sexual exploitationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) New York 9th February 2016 (WAM) -- UN Secretary-General Ban Ki-moon has appointed Jane Holl Lute as a Special Coordinator on improving the United Nations ...

 Feb 9 2016 - UAE- MD CEO of DEWA highlights private sector's contribution to innovating in clean energyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 9th February 2016 (WAM) -- Saeed Mohammed Al Tayer MD & CEO of Dubai Electricity and Water Authority DEWA has noted that Dubai provides the ...

 Feb 9 2016 - UAE Ambassador Italian Justice Minister discuss cooperationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ROME 9th February 2016 (WAM) -- Saqr Nasser Al Raisi UAE Ambassador Extraordinary and Plenipotentiary to Italy and Andrea Orlando Italian Minister of ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help