Shafaq News / Prime Minister Mohammed Shia Al-Sudani discussed on Wednesday with the Chairman of the Board of Directors and CEO of the American Company Baker Hughes, Lorenzo Simonelli, the Iraqi gas file, while stressing the provision of all facilities for the company’s work in Iraq.
The Prime Minister’s Office said in a statement received by Shafaq News Agency that “Al-Sudani received the Chairman and CEO of the American Baker Hughes Company, specialized in oil and energy services, Lorenzo Simonelli. During the meeting, they discussed the prospects for cooperation in the field of energy and reviewing the company’s projects in Iraq, including the completion of gas processing units in the Nasiriyah field with a standard capacity of 200 million cubic feet, which is hoped to complete the first phase before the summer of 2026, provided that the second phase will be completed in 2027.”
Al-Sudani pointed to “the government’s readiness to provide all facilities and support for the company’s work in Iraq, in light of government procedures for the entry of businessmen and companies into the Iraqi market,” noting that “the government has worked to improve the business environment to attract companies in all sectors.”
For his part, Baker Hughes expressed “his company’s commitment to implementing energy projects in Iraq and expanding its framework,” stressing that “Iraq enjoys promising investment opportunities in various fields.”
FIREFLY: Mr Sammy says...they are still hiding Article 12-2C because it's rate related for the budget. Keep watching what they do, not say. That can all be smoke screen.
FRANK: Brilliant suggestion.
FIREFLY:They're telling us...they're opening a new bank in America.
FRANK: My friend [Guru] Walkingstick has a friend in Michigan that has control of one of these banks. FIREFLY: TV just said that we're opening the bank in the US, so that one there must be the one in Michigan that your friend has.
FRANK: I'm not sure...The CBI will have many of these private banks around the world soon...The CBI will release a long list of these banks where Iraqi citizens or anyone that has 3-zero notes can go...and exchange their currency. The one in Michigan is being controlled by a friend whose name is Aki.
ERBIL, Kurdistan Region – The Kurdistan Region’s Council of Ministers said on Wednesday that it has met its obligations for resuming the Region’s oil exports, calling on the relevant authorities in Erbil and Baghdad to restart the process “as soon as possible.”
The Council of Ministers held its weekly meeting in Erbil on Wednesday to discuss a range of issues, particularly the Kurdish oil exports which have been suspended for over two years.
“The Council of Ministers reaffirms its unchanging position in support of negotiations and discussions between both the Oil Ministry and Natural Resources Ministry for the soonest possible resumption of oil exports,” read a statement from the Kurdistan Regional Government (KRG).
“To this end, the Council of Ministers calls on the [Kurdish] Ministry of Natural Resources, the Federal Oil Ministry, oil companies, and [Iraq’s State Oil Marketing Organization] SOMO to continue coordination and negotiation in order to resolve the issues and reach an agreement as soon as possible to resume Kurdistan Region’s oil exports and to prevent further financial losses to the general treasury, which have already exceeded tens of billions of dollars,”
it added.
Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023, after a Paris-based arbitration court ruled in favor of Baghdad, stating that Ankara had violated a 1973 pipeline agreement by allowing Erbil to export oil independently.
Iraq’s foreign minister said on Tuesday that Baghdad is seeking to resume Kurdish oil exports through the Iraq-Turkey pipeline and will “make every effort” to do so.
Myles Caggins, spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR), an umbrella group of international oil companies operating in the Kurdistan Region, told Rudaw on Tuesday that Baghdad must provide written documentation of the international consultant’s audit of production and costs.
“I want to make APIKUR’s position clear. Our companies are ready to resume oil exports when we have agreements, and we need agreements for sales and also an agreement for the international consultant that is required by Iraq’s budget law,” he added.
In early February, the Iraqi parliament approved amendments to the federal budget law, authorizing a $16-per-barrel fee for production and transport costs in the Kurdistan Region – a move seen as a crucial step toward restarting exports.
The amendments also require both the federal government and the KRG to establish an international technical consultancy within 60 days to assess production and transportation costs for oil fields in the Kurdistan Region. If an agreement cannot be reached, the federal council of ministers will appoint the consultancy.
As you know the Iraqi Foreign Minister Fuad Hussein left for Washington D.C. to meet with Secretary of State Marco Rubio on Thursday. But what you many not know is the huge request the Iraqi Foreign Minister had for the United States...
The visit signals a deepening partnership between the two nations, which is a good thing for IQD investors. But the interesting factor that was finally revealed about the meetings was Iraq's request. Iraq asked the US to reconsider travel warnings ...A move that could make it easier for investors to travel freely to the country...
Hussein stressed that the current "Level 4 - Do Not Travel" advisory is hurting Iraq's chances of attracting American businesses and investment. He explained Iraq's situation has improved significantly and continuing to label Iraq as highly dangerous
just doesn't reflect the new reality on the ground anymore..
.Hussein pointed out some European countries have already updated their travel advisories for Iraq...As of now, it's unclear whether the Untied States will agree to remove or lower the travel warning...If Washington does choose to reconsider it would mark a major step toward opening Iraq's doors wider to American investors and businesses. Guys this is major!
Kurdistan Government: We have no obstacles to resume oil exports and good progress in talks with Baghdad
The Kurdistan Regional Government confirmed that there are no obstacles by Kurdistan to resume oil exports, noting that the losses exceeded 10 billion dollars.
A statement from the Kurdistan Government Presidency said on Wednesday that the Kurdistan Regional Council of Ministers held a meeting under the chairmanship of Prime Minister Masroor Barzani, and in the presence of Deputy Prime Minister Qobad Talabani, where he discussed the latest developments in the oil export file, in addition to the reorganization of the affairs of retirees.
The statement stressed that “there are no obstacles on the part of the Kurdistan Region to resume oil exports.”
At the beginning of the meeting, the Acting Minister of Natural Resources, Kamal Mohammed Saleh, gave a presentation on the latest developments related to the resumption of the region’s oil exports based on the Iraqi budget law.
Saleh explained that “the ministry has fully fulfilled all its obligations with regard to the regional government,” stressing that “there are no obstacles or obstacles on the part of the Kurdistan Region to the resumption of exports and depositing proceeds in the Federal Public Treasury.”
While the head of the Cabinet of Ministers’s Office, Omid Sabah, and Council Secretary Amanj Rahim, reviewed the details of the ongoing talks with the federal government and oil companies, and pointed to “good progress on some items, while continuing efforts to resolve the remaining points, especially those related to companies.”
The statement pointed out that the Council of Ministers renewed its support for the negotiations, calling on the Ministry of Natural Resources, the Federal Ministry of Oil, the oil companies and the Iraqi Oil Marketing Company (SUMO) to “continue coordinating and negotiating in order to settle the outstanding files and reach an agreement as soon as possible, in preparation for the resumption of the export of the region’s oil.”
The regional government warned, according to the statement, that financial losses resulting from the suspension of oil exports “have exceeded tens of billions of dollars.”
In another focus of the meeting, the Council discussed the reorganization of the Public Retirement Administration Institution, based on the Iraqi Unified Retirement Law No. (9) of 2014, and the decision of the Federal Court.
The head of the Coordination and Follow-up Department, Abdul Hakim Khosrow, submitted a report in this regard, in which he stressed “the need to organize the file in line with federal laws.”
In turn, the Council of Ministers stressed the importance of taking care of the affairs of retirees, and instructed the ministries (Finance, Economy, Peshmerga Affairs, and Interior) to form a specialized joint committee as soon as possible,
which prepares appropriate procedures and mechanisms to facilitate and accelerate retirement transactions and disbursement of salaries and dues, in the civil, military sectors and the Internal Security Forces, to ensure that there is no delay in completion or disruption of the rights of retirees, as stated in the statement.