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
 May 30 2016 - International Freelance Marketplace Proffstore to Present an Innovative Service PIM at The Israel Mobile SummitMENAFN Press
(MENAFN Press) International freelance marketplace Proffstore is going to present an innovative service PIM on 14 June 2016 at The Israel Mobile Summit. On 14 June 2016 Israel Trade Fairs & ...

 May 30 2016 - GDP and other acronymsMENAFN Press
(MENAFN Press) GDP, Gross Domestic Product, is the macro-economic concept par excellence. However, it does not appear at the top of rankings of most used acronyms. Such rankings are established by ...

 May 30 2016 - Lexus Hybrid Owners: Thanks a Million!MENAFN Press
(MENAFN Press) Lexus announced it has sold over 1 million hybrid vehicles since the world's first luxury hybrid vehicle, the RX 400h, went on sale in April 2005. This major milestone has been ...

 May 30 2016 - The Perils of Media IslamMorocco World News
(MENAFN - Morocco World News) Contemporary media Islam has invented a new religious public sphere beyond governmental control across national borders, located in cyber spaces and on satellite ...

 May 30 2016 - Shams 1 wins at the 2016 MENASOL AwardsMENAFN Press
(MENAFN Press) Shams Power Company, developer and operator of the Shams 1 concentrated solar power (CSP) plant in Western Abu Dhabi, has been recognised for its contribution to local communities at ...

 May 30 2016 - Honeywell marks 40 years of aircraft maintenance services that reduce downtime and costsMENAFN Press
(MENAFN Press) Honeywell (NYSE: HON) is celebrating 40 years of providing maintenance service plans for airplane operators and owners of business jets. As one of the world's leading manufacturers of ...

 May 30 2016 - Remittances from UAE play an important role in Egypt & Jordan economiesMENAFN Press
(MENAFN Press) World Bank Group remittance data sees Egypt and Jordan emerge as key receivers of remittances within the MENA region. In 2015, Egypt received an estimated USD 19.7 billion in ...

 May 30 2016 - CUD partners with Provectus Middle East to lead sustainability agenda in higher educationMENAFN Press
(MENAFN Press) Canadian University Dubai (CUD) is set to boost its pioneering work in environmental development and green economy through a new partnership with sustainable solutions experts, ...

 May 30 2016 - GCC Committee for Undersecretaries of Post and Telecommunications successfully concludes 27th meeting in RiyadhMENAFN Press
(MENAFN Press) UAE, 29 May 2016 - A high-level delegation from the UAE Telecommunications Regulatory Authority (TRA) has discussed during its participation at the recently concluded 27th meeting of ...

 May 30 2016 - TP-LINK Outlines 2016 Strategy And Celebrates Top Performing PartnersMENAFN Press
(MENAFN Press) SOHO and SMB Networking Vendor Pays Tribute To Partner Excellence at the First ‎Partner ConneXion 2016 ‎ Duabi, UAE, May 29,2016:TP-LINK Technologies Co Ltd, a leading ...

more...


 





Google

Join Our Newsletter

 
 

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