Saturday, February 22, 2025
Baghdad announces the completion of the procedures for resuming the export of Kurdistan oil and directs a request to Erbil, 23 FEB
Shafaq News / The Iraqi Ministry of Oil announced on Saturday the completion of the procedures for resuming the export of oil produced in the Kurdistan Region, calling on the region’s authorities to hand over the quantities produced from the operating fields to the oil marketing company.
The ministry confirmed in a statement received by Shafaq News Agency, “Completing the procedures for resuming the export of oil produced in the Kurdistan Region through the port of Cihan in accordance with the mechanisms outlined in the budget law and its amendment and within the production ceiling set for Iraq in OPEC.”
The Ministry of Oil demanded from the regional authorities to “hand over the quantities produced from the operating fields to the oil marketing company to proceed with export through the Iraqi-Turkish pipeline and the port of Ceyhan under the contracts signed with the candidate companies.”
Earlier in the day, Iraq’s Prime Minister’s Foreign Affairs Adviser, Farhad Aladddin, denied media reports claiming that the United States threatened to impose sanctions on Iraq if oil exports from the Kurdistan Region did not resume.
Reuters revealed on Friday the details of US pressure exerted by the administration of President Donald Trump on the Iraqi government in order to speed up the resumption of the export of Kurdistan Region oil through the Turkish Ceyhan line, or face economic sanctions as is the case with Iran.
The agency quoted eight sources in Baghdad, Washington and Erbil, who have direct knowledge of the issue, as saying that “ increasing pressure from the new US administration was a major driver behind the Iraqi oil minister’s announcement last Monday that exports from the region will resume next week.”
EXCERPTS FROM MARKZ, 23 FEB
EXCERPTS FROM MARKZ
MZ: Huge amounts of chatter this weekend. Tons of rumors about this weekend. We will see what surfaces. We know there is a lot of excited wealth management/redemption contacts and bond folks as of this morning.
MZ: Lots of people in place but have not heard from group contacts yet this morning. I am confident we are close…just not certain this is the weekend or not. I would think we would see movement in groups if this was our weekend.
MZ: The new dinar rate was not in the Gazette today. The CBI has been showing some different rates lately…it even went to 1322 in the wee hours. But it is not staying there. There is a lot pointing to the fact they are working on it….but not a lot pointing to us going to the banks on Monday.
Baghdad announces the completion of the procedures for resuming the export of Kurdistan oil and directs a request to Erbil, 23 FEB
Baghdad announces the completion of the procedures for resuming the export of Kurdistan oil and directs a request to Erbil
TIDBIT FROM CLARE, 23 FEB
Clare
Article: "European Union to {Sabah}: We praise the reforms of the Sudanese government"
Quote: "We support Iraq in joining the World Trade Organization (WTO), which is necessary, among other things, to harmonize Iraqi laws with international standards,”
Article: "Despite Iranian denial, a delegation from Washington will arrive in Baghdad 'soon' to begin negotiations with Tehran - Urgent "
Quote: "Former House of Representatives Rapporteur, Muhammad Othman Al-Khalidi, revealed today, Friday (February 21, 2025),
the imminent arrival of a high-ranking American delegation to begin the first steps of indirect negotiations with Iran...He pointed out that 'what matters to us as Iraqis in these negotiations is that Baghdad is not an arena for conflicts and tensions, and that we be a party that enhances security and stability...' "
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FRANK26…5-4-26…..SATURDAY !!!
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