RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-05-01 18:53:00

KURDS INVITES OIL

KURDS INVITES OIL

A senior official of the Kurdistan region of Iraq has said the authorities will auction off 1.5m barrels of crude oil held at a storage point in Turkey on Friday in defiance of threats from Baghdad.

The Kurdistan Regional Government (KRG) has clashed with Baghdad after being instructed to accept severe budget cuts. It has shipped its oil production to Turkey despite a ban on exports imposed by Baghdad, which claims its oil ministry must approve all sales and exports.

Iraq is holding its third post-invasion election and Kurdish officials have said they would move quickly to shore up the region's fiscal position in light of the short fall.

"Oil sales will start on Friday," said Bayan Sami Abdul Rahman, high representative of the KRG to the UK. "We have 1.5m barrels of oil in Turkey that we will put on the market and sell. Baghdad is using the budget to control and punish the Kurdish region."

Kurdistan currently produces approximately 200,000 barrels per day (bpd) but analysts at Bernstein believe its output can rise to 2m bpd by 2020, and reach total exports of 1m bpd.

telegraph.co.uk

Tags: KURDISTAN, OIL
Chronicle:
KURDS INVITES OIL
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
KURDS INVITES OIL
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
KURDS INVITES OIL
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
KURDS INVITES OIL
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
KURDS INVITES OIL
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
KURDS INVITES OIL
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
KURDS INVITES OIL
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.
All Publications »