DINAR REVALUATION

Tuesday, February 25, 2025

Shafaq News/ Iraq is awaiting Turkiye’s approval to restart oil exports from the Kurdistan Region via the Ceyhan pipeline within two days, Iraqi Oil Minister Hayyan Abdul Ghani revealed on Monday.

Speaking to Reuters, Abdul Ghani emphasized that Iraq remains committed to OPEC+ production quotas, stating that “all exported volumes will remain under the control of the Oil Ministry.” He also clarified that Kirkuk’s oil production will be “reserved for domestic consumption” and will not be included in the exports via Turkiye.

Turkiye halted Kurdistan’s oil exports via Ceyhan Port in March 2023 following a ruling by the International Chamber of Commerce (ICC) that ordered Ankara to pay $1.5 billion in damages to Iraq for allowing Kurdish oil exports without Baghdad’s approval.

With negotiations between Baghdad and Erbil progressing, the Kurdistan Regional Government (KRG) announced on Sunday the formation of a joint technical team with Iraq’s Oil Ministry to “assess the pipeline’s readiness for resumption.”

Meanwhile, the Iraqi Oil Ministry has “completed the necessary procedures for restarting exports” and has urged the KRG to hand over production volumes to Iraq’s state-run oil marketing company, SOMO, while the KRG delegation reaffirmed its commitment to implementing the recent amendments to Iraq’s federal Budget Law.

The Association of the Petroleum Industry of Kurdistan (APIKUR) has reiterated its readiness to resume oil exports if Baghdad and Erbil finalize an agreement that “safeguards existing commercial and contractual terms for foreign operators in the region.”

Iraqi Foreign Minister Fuad Hussein confirmed that Baghdad is “working to resolve technical issues with Erbil to restart crude flows” after nearly two years of suspension, which has cost Iraq an estimated $19 billion in lost revenue.

The United States has backed efforts to restart the pipeline, citing the need for “stable oil flows to global markets,” while Turkiye insists the pipeline is operational, stating that the final decision on resuming flows “lies with Iraq.”

https://shafaq.com/en/Kurdistan/Baghdad-awaits-Turkiye-to-resume-oil-flows-from-Kurdistan-Region

TIDBIT FROM MILITIAMAN, 25 FEB

Militia Man

An agreement has been reached and confirmed to resume the export of [Kurdistan] oil. IMO they're not going to use 1310 as a value basis for this to happen.

They're going to have to have an IMF multi currency practices rule and compliance issue stopped... They're going to need a Real Effective Exchange Rate in dinar terms for this to happen. If this holds true, a change is to be coming...

MILITIAMAN: Banks are closed. Sudani said he was going to make...the di...

The Ministry of Oil discloses the quantities received from the Kurdistan Region as a first stage, 25 FEB

The Ministry of Oil discloses the quantities received from the Kurdistan Region as a first stage

The Undersecretary of the Ministry of Oil for Extraction Affairs, Bassem Muhammad Khudair, confirmed on Sunday that the ministry will receive about 185,000 barrels per day from the Kurdistan Region as a first stage after the resumption of oil exports through the Turkish port of Ceyhan, while noting that the quantity is gradually escalating to 400,000 barrels per day.

Khudair said in a press statement: “The suspension of exports from the Kurdistan region during the past period caused a problem for the oil fields in the region, and it takes a period of rehabilitation to restore its production capacity, in order to reach the export of 400,000 barrels per day, which is the minimum quantities prescribed in the budget.”
He added that “the amount currently available for export in the region is 300,000 barrels per day, part of which is intended for internal use, while the remaining 185,000 barrels will be allocated for export.”
He pointed out that “the past period witnessed the visit of a delegation from the Ministry of Oil to the region, and it was agreed to form joint committees to follow up the mechanisms for the resumption of oil export,” explaining that “we were informed by the region of its readiness to start the export process.”
He continued: “The technical teams of the North Oil Company and representatives of the Kurdistan Region are working to inspect the oil export pipelines and ensure their validity and readiness to resume oil pumping through them.”
Khudair stressed that “the Ministry of Oil has addressed the Turkish side to inquire about the readiness of the pipe intended for export through the port of Cihan, and we are waiting for the answer within the next 24 hours.”
He also stated that “the ministry is keen to maintain export operations through the port of Ceyhan as part of a strategic vision for the relationship between Iraq and Turkey, and there is continuous communication with the region and the Turkish side to ensure continued cooperation and export.”

The negotiation delegation of the Kurdistan Regional Government announced earlier on Sunday that it “the promise of communication and coordination between the Federal Ministry of Oil and the Ministry of Natural Resources of the Kurdistan Region, it was agreed and confirmed to resume the export of the region’s oil according to the available quantities.”

The statement added, “A joint technical team was formed today to inspect the export pipe and indicate its readiness. In this regard, we emphasize our commitment to implement the provisions of the Federal Budget Law.”

https://alforatnews.iq/news/وزارة-%E2%80%8Fالنفط-تكشف-عن-الكميات-المستلمة-من-إقليم-كردستان-كمرحلة-أولى

A2ZANGELA : Iraq has officially published the Restitution Law, 25 FEB

#BREAKING

Iraq has officially published the Restitution Law, the Personal Status Law, and the General Amnesty Law in the Official Gazette of Iraq, clearing the way for their enforcement. The Restitution Law will restore farmland ownership to Kurdish farmers in Kirkuk.

The amount of drama and news converged on this army/farmers situation is astronomical!

And yet the budget law printed in the gazette was hard to find, only one post about it. Idk about you, but if MY WHOLE COUNTRY WAS WAITING ON MONEY, and you didn’t want to be bombarded on that issue when it drops,

I would most certainly stir up another news worthy issue and make sure the news was covering it and people were invested in that story.

Kind of reminds me of when we had a huge steal in our 2020 election, yet all of a sudden Jan 6th insurrection happened…. And THAT was all anyone talked about.

Just some thoughts and observations as I’m digging through Iraqi news.

A2ZANGELA