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Kurdistan announced the allocation of part of the oil revenues for the producing companies
8/4/15
Twilight News Kurdistan Regional Government / She will allocate part of the direct revenues from oil sales to foreign companies produced starting from September in an apparent attempt to reassure foreign oil companies in the region.
And it predicts an increase of sales to independent Kurdistan region, which has already risen since mid-June, and at the same time reducing allocations for the Iraqi Oil Marketing Company (SOMO) in an escalation of the conflict on the rights of export payments and budget.
The Ministry of Natural Resources and the region in a statement that the privatization process will begin in September, could rise in early 2016 with increased exports.
The statement continued that the federal government has not acted to the region so far delayed allocation of the monthly budget which is paid to resort to direct oil sales.
Shares of international oil companies because of the news with the rise of Gulf Keystone shares listed on the London Stock Exchange 17.2 percent and Norway's DNO 13.2 percent.
John Ferrer, chief executive of Gulf Keystone and welcomed the decision of the government of Kurdistan in an emailed statement, describing it as "an important new step towards the regular payment mechanism" for sales of Shikan field which is run by his company in Kurdistan.
The region and stressed that he is still determined to build on the 2015 budget agreement with Baghdad, which approved the transfer of up to 550 thousand barrels per day to the allocation of Baghdad Sumo versus 17 percent of the budget payments to Erbil.
She said that the Government of the Territory of raw direct sales via Turkish port of Ceyhan, which amounted to 12 million barrels since at least mid-June, according to shipping data less of Kurdistan's share of the federal budget and traders but exceed the monthly allowances obtained from Baghdad.
She added that the region will continue to facilitate the export of oil from state-run fields in Kirkuk by pipeline network to Turkey.
It is expected that the pipeline extended to Turkey transportation of oil resumes on Tuesday after a sabotage operation carried out by militants Kurds stopped pumping crude last week
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8/4/15
Twilight News Kurdistan Regional Government / She will allocate part of the direct revenues from oil sales to foreign companies produced starting from September in an apparent attempt to reassure foreign oil companies in the region.
And it predicts an increase of sales to independent Kurdistan region, which has already risen since mid-June, and at the same time reducing allocations for the Iraqi Oil Marketing Company (SOMO) in an escalation of the conflict on the rights of export payments and budget.
The Ministry of Natural Resources and the region in a statement that the privatization process will begin in September, could rise in early 2016 with increased exports.
The statement continued that the federal government has not acted to the region so far delayed allocation of the monthly budget which is paid to resort to direct oil sales.
Shares of international oil companies because of the news with the rise of Gulf Keystone shares listed on the London Stock Exchange 17.2 percent and Norway's DNO 13.2 percent.
John Ferrer, chief executive of Gulf Keystone and welcomed the decision of the government of Kurdistan in an emailed statement, describing it as "an important new step towards the regular payment mechanism" for sales of Shikan field which is run by his company in Kurdistan.
The region and stressed that he is still determined to build on the 2015 budget agreement with Baghdad, which approved the transfer of up to 550 thousand barrels per day to the allocation of Baghdad Sumo versus 17 percent of the budget payments to Erbil.
She said that the Government of the Territory of raw direct sales via Turkish port of Ceyhan, which amounted to 12 million barrels since at least mid-June, according to shipping data less of Kurdistan's share of the federal budget and traders but exceed the monthly allowances obtained from Baghdad.
She added that the region will continue to facilitate the export of oil from state-run fields in Kirkuk by pipeline network to Turkey.
It is expected that the pipeline extended to Turkey transportation of oil resumes on Tuesday after a sabotage operation carried out by militants Kurds stopped pumping crude last week
[You must be registered and logged in to see this link.]
