The provincial government revealed that the two companies that run Tjartin Kurdistan
The provincial government revealed that the two companies that run Tjartin Kurdistan oil sales
February 26, 2016 17:10
Report KRG shows that two commercial companies are the only two that run oil sales which provided money for the province at the height of its fight against the terrorist organization Daash.
And it began the Kurdistan region of direct oil sales to international markets mid-2015 as saying that the central government in Baghdad, did not respect the agreement on the budget, depriving Erbil of the money that you need to pay government salaries, including fighters wage Alepeshamrkh, while Baghdad said that Erbil did not respect the agreement to transfer the oil to .
Kindle and the collapse of oil prices over the last year sparked a budget crisis in Erbil and forced the province to reduce public spending despite the increase in sales of crude being exported via the Turkish port of Ceyhan.
But while the KRG says that refining companies in a dozen countries to address the region's oil, the government published a report this week showed that direct sales in January went to the two major buyers restored crude sale to many destinations.
The report, which the government said it will help increase transparency in sales did not name the buyers, saying only that the buyer [A] taking 12 cargo of crude buyer [E] took eight shipments and the buyer [T] taking one shipment.
Trade sources said that the [A] symbolizes Orkham, a unit of Vitol, the largest trading company in the world and [E] "symbolizes the Edgewater, a unit of the company Btraku commercial though [T] is a Swiss trading company Trafigura.
It declined all commercial companies to comment on its role in the oil region, which has become a favorite of the raw materials for the European refining companies over the past year due to low prices in the oversupplied market.
The Minister of Natural Resources Ashti Hawrami told Reuters last year that the city of the region by about three billion dollars to Turkey and several commercial companies.
It slowed repay the debt due to lower oil prices at a time when monthly bills amounted to the region - a comprehensive Peshmerga wages - about $ 800 million before government spending to reduce significantly the end of last year.
The government said January sales of $ 18 million and 653 thousand and 340 barrels of oil aboard the tanker 21 may rotate $ 650 million inclusive of Kurdistan some prepayments.
It seems that February would be more difficult to Erbil, it has been halted export line connecting pipeline to Ceyhan earlier this month in the segment passing through Turkish land where Kurdish militants facing government forces.
And hurt the companies to stop dealing with the Kurdish refining crude in countries such as Israel, Germany and Hungary have already led to high prices of raw competition.