Representatives from the affiliation of the Petroleum enterprise of Kurdistan (APIKUR) member corporations met with officers from the authorities of Iraq (GoI) and the Kurdistan regional government (KRG) on March 6 to speak about the resumption of oil exports through the Iraq-Türkiye Pipeline.
APIKUR reiterated that its member groups are ready to restart exports immediately, supplied their longstanding situations are met. The companies insist on:
price Surety: Formal income/lifting agreements with clean terms, making sure full and well timed fee for each past and destiny oil exports. payments for oil furnished among October 2022 and March 2023 have to also be settled at once and transparently, with out intermediaries.
admire for production Sharing Contracts (percent): The legal and financial terms of present p.c. have to be upheld. APIKUR insists that the position of an independent technical consultant, required below the revised price range regulation, ought to be restrained to verifying that oil sales invoices comply with % terms.
complete announcement from APIKUR:
Representatives from association of the Petroleum enterprise of Kurdistan member agencies attended a meeting with authorities of Iraq and Kurdistan nearby government officials to talk about recovery of oil exports through the Iraq-Türkiye Pipeline on March 6. APIKUR member businesses conveyed their conditions required to renew oil exports. additional conferences are required to finalize agreements.
APIKUR member agencies (organizations) reiterate that they may be geared up to right now resume exports through the Iraq-Türkiye Pipeline as soon because the situations communicated repeatedly in view that November 2023 are met, that treats oil producers in Iraq’s Kurdistan area in a comparable way as oil producers in Federal Iraq. honest and obvious agreements are vital that consist of price surety, transparent implementation of Iraq’s price range regulation stipulations, and resolution of payments that are in arrears.
The situations are:Surety of charge for past and future oil exports. The groups need formal sales/lifting agreements with the consumers of any exported oil, starting up terms and situations and imparting surety that organizations can be completely paid for the oil – even though in two tranches. There also wishes to be agreements put in place that see organizations being paid for oil added but now not paid for among October 2022 and March 2023. those bills want to be made directly and transparently to the groups, without intermediaries or undue delays.
protection of manufacturing Sharing Contracts business terms and economics. The businesses’ current contracts are legally legitimate and their terms must be triumphant. The financial model in the p.c’s should be respected. The work scope of an independent technical consultant, required through the revised price range regulation, need to be agreed through all events and restrained to confirming that the agencies’ oil sales invoices are organized according with the p.c., and there needs to be formal agreed dispute decision provision inside the confirmation process. APIKUR member corporations have encouraged experts to KRG officials from identified unbiased international firms.
“APIKUR member businesses are geared up to fulfill all stakeholders and finalize the agreements had to resume oil exports,” stated Myles B. Caggins III, APIKUR spokesman. “We admire the emphasis prime Minister Sudani and the U.S. authorities have located on retaining all parties focused on rapidly restoring oil exports through the Iraq-Türkiye Pipeline to bolster Iraq’s economy.”
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