GPD is our General Posting Department whereby we share posts from other sources along with general information with our readers. It is managed by our Editorial Board

View Latest Posts >>>

Are the Barzani Kurds Lying about their Oil Theft deal with Erdogan

Kurds "agree" to sell oil from Kirkuk oil fields to same Turkish buyers they partnered with selling oil for ISIS

Gosh - why can't a critical pipeline be fixed in 72 hours like it should be?

Gosh – why can’t a critical pipeline be fixed in 72 hours like it should be?

[ Editor’s note: This deeply flawed propaganda piece from Erbil cites, hidden within the text an “agreement” to sell oil but fails to say whom the agreement is with or that the “agreement” is illegal as hell. If you want to see classic con and deception, keep reading and, no matter what, don’t slide off your chair. The floor is a mess with ‘you know what.’

They trot out the story of the pipeline being down since Feb 17th is just a bit fishy. Repairs on those are usually a 72 hour gig, with the contractor getting a bonus for coming in on time.  Suspicious me, why do I think the oil is still flowing but going into someone’s pocket? ]

__________

– First published  …  March 04, 2016

Barzani on the left, or is it the right....does it really matter?

Barzani on the left, or is it the right….does it really matter?

ERBIL, Kurdistan Region Iraq’s deputy oil minister, Fayadh al-Nema, has said Baghdad will pay $2 billion in arrears to foreign oil companies operating in the country’s south.

Major international oil companies like BP, ExxonMobil and Royal Dutch Shell operate there under service contracts and are paid a fixed dollar fee for additional volumes of oil they produce.

Such agreements have cost Baghdad dearly given the sharp decline in oil prices. This has led them to call upon these companies to use the money they receive to develop the fields they are operating to necessitate selling oil at crude prices.

“The new amended agreement will help to prevent inflating production costs and getting Iraq in debt,” Nema explained to Reuters.

Additionally investing companies will raise production rates at Artawi and Nahr Bin Umar fields and build-up infrastructure there. Extra revenue from raised output will be put towards paying off Baghdad’s debt Nema explained.

Nema believes that the companies operating costs will be reduced if they give drilling operations to Iraq’s national drilling firm. Additionally replacing foreign workers with locals would be more beneficial to Baghdad.

He also hopes that by the middle of the year Iraq will reach a deal with both ExxonMobil and PetroChina to invest in the “Integrated South Project”. A project aimed at building more pipelines, storage facilities along with a seawater supply project which will bring water from the Persian Gulf to assist oil recovery operations.

Also Iraq is currently talking with foreign engineering companies about the prospect of building a new offshore oil port with an export capability of 2.5 million barrels a day. Already, Nema said, “We have picked the ideal location for the new port that will ensure we have all the flexibility needed in shipping additional oil.”

Mr Bullshit

Mr Bullshit

In other oil-related news the Kurds have consolidated their control over Kirkuk’s oil by agreeing to sell oil pumped from Kirkuk province… one of the so-called disputed territories that came under complete Kurdish control after the Iraqi Army fled Islamic States’ advance across Northern Iraq in the summer of 2014.

Kirkuk crude is exported along with oil pumped from the rest of the Kurdistan Region through the Kirkuk to Ceyhan oil pipeline. Kirkuk’s governor Najmaldin Karim told Bloomberg on Wednesday that $10 million per month made from the sale of this crude will be placed in a bank account for his province (in Switzerland?).

However exports remain halted for the time being following the sabotage of part of that pipeline in the troubled southeastern Turkey last February 17.

___________

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Related Posts:



The views expressed herein are the views of the author exclusively and not necessarily the views of VT, VT authors, affiliates, advertisers, sponsors, partners, technicians, or the Veterans Today Network and its assigns. LEGAL NOTICE - COMMENT POLICY

Posted by on March 4, 2016, With 2443 Reads Filed under Investigations. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

FaceBook Comments

2 Responses to "Are the Barzani Kurds Lying about their Oil Theft deal with Erdogan"

  1. Jim W. Dean, Managing Editor  March 5, 2016 at 5:28 am

    You got it. Welcome to Kurdish math. Harder to understand is why Baghdad, when it is under huge financial pressure, let the issue continue to lie. It would put the Kurds in violation of the oil split agreement and then Baghdad could withhold paying its 17% from the whole countries production. It is because a similar diversion scam is going on for the Basra area and they want to let sleeping dogs lie, or…do they feel that would be a trap for the Kurds to go independent. To do that the Kurds would need a big benefactor and with the Turkish pipeline being critical to its existence that looks like the only option, and a dangerous one at that.

  2. Peter Johnson  March 5, 2016 at 12:38 am

    According to Wikipedia the capacity of the Kirkuk Ceyhun pipeline is 300,000 barrels a day — $10million a day. Not $10million a month. So $290 million a month of throughput is unaccounted for. No wonder a Kurd and a Turk can shake hands and smile so broadly in the picture.

You must be logged in to post a comment Login


TOP 50 READ ARTICLES THIS MONTH