Iraq invites oil companies to discuss Kurdistan contract!
Iraq's oil Ministry has invited global foreign companies operating under the Kurdistan Petroleum industry Association (APIKUR) as well as Kurdistan Regional government (KRG) contracted firms to a meeting to be held in Baghdad on march 4.
These issues will be discussed in the meeting
The ministry said on Saturday, the purpose of this dialogue is to consider issues related to existing contracts and to make several such agreements, which will develop the oil industry in accordance with international standards while protecting national interests. The Kurdistan Region's Ministry of Natural Resources is also expected to participate in this discussion. Let us tell you that this meeting is taking place amid ongoing efforts to smoothen oil operations between Baghdad and Erbil.
oil export volume will be increased
Eight international oil companies operating in Iraq's semi-autonomous Kurdistan region said they were not going to export oil through Turkey's Ceyhan, while Baghdad had announced that exports would start soon. The government said on friday that the resumption of exports would be announced soon. The export will be done at the rate of 185,000 barrels per day (bpd) through state oil marketer SOMO initially and its quantity will be increased gradually. The Kurdistan Petroleum industry Association (APIKUR), which alone produces 60 percent of the region's oil, said that no formal contract has been signed for clarity on commercial agreements or payment guarantees for exports in the past and future.
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