Maliki playing with Barzani: oil pipe dream payments
Date: Friday 05/10/2012 05:45 pm
Said company Genel Energy leader in the production of oil in Iraqi Kurdistan on Friday it has stopped its exports did not receive any payments after three days of confirmation of Baghdad to begin the transfer of funds to the semi-autonomous region.
Baghdad agreed and the Kurdistan Regional Government last month to settle a dispute over oil payments after pledging region in northern Iraq to continue to export and the central government said it would pay dues of foreign companies operating there.
Said Mohamed for president Genel Energy "If we do not get مستحقاتنا we will reach the Kurdistan Regional Government that we definitely want to stop exports."
"We have not received any money."
Kurdistan exports rose to 170 thousand barrels per day and contributes fields Taq Taq and Tawke working two Genel Energy at 110 thousand barrels per day.
Kurdistan stopped exporting oil in April / last April in protest against the delay in payments from the central government for companies operating in the region.
The region exports resumed after that through the pipeline under the control of Baghdad and extends from Kirkuk to the Turkish port of Ceyhan but threatened to stopping them again unless agreement is reached on payments.
Genel Energy complained listed on the London Stock Exchange, the first oil company operating in Kurdistan did not receive any payment for most of the oil was exported in 2009 and 2011. And other companies have expressed the same complaint, including DVD.. Or Norwegian.
After more than nine years of the overthrow of the tyrant Saddam, there was no law binding on the oil and gas industry. And political differences caused the stalled adoption of the draft national oil law, which was prepared in 2007 and aimed at resolving the differences.
The dispute over oil contracts is part of the larger problems between the government in Baghdad and the Kurdistan region on oil and land rights and self-government, causing strained relations between the two sides.
And the situation in Iraq with the help of foreign companies ambitious plans to increase oil production capacity to more than 12 million barrels a day by 2017, but it seems that this goal is unrealistic because of the problems in infrastructure and logistics capabilities.
Iraq needs investment in almost all sectors. Rubble and still uncompleted buildings common sight while uninterrupted electricity several times a day after more than nine years of the US-led invasion in 2003 to oust Saddam Hussein.
With the exception of the oil sector, the economic development in Iraq is moving at a slow pace though the violence has ebbed since the height of sectarian fighting in 2006 and 2007.
And owns OPEC member country's fourth-largest oil reserves in the world and has produced more than three million barrels per day for the first time in three decades. And Iraq aspires to increase that figure doubled over the next three years thanks to investment from a number of major oil companies such as BP. My Shell, Exxon Mobil and Italy's Eni and Lukoil
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