Turkish, Iraqi officials discuss resuming Kirkuk oil exports

Flames emerge from flare stacks at the oil fields in Kirkuk, Iraq on October 18, 2017. (Reuters)
Updated 16 November 2017
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Turkish, Iraqi officials discuss resuming Kirkuk oil exports

BAGHDAD: A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports via the Turkish port of Ceyhan, Iraq’s oil ministry said in a statement on Thursday.
Exports from oilfields in Kirkuk have been on hold since Iraqi government forces took control of them from the Kurds last month in retaliation for a Kurdish referendum on independence which was widely opposed by Turkey, Iran and Western powers.
“A high level Turkish energy delegation met with senior oil officials, including officials from state-run SOMO, to discuss ways to restart Kirkuk oil exports,” the statement said.
Baghdad’s meeting was attended by senior officials from the Turkish energy ministry, state-owned energy company TPAO and Turkish pipeline operator Botas, according to the oil ministry.
“The two parties discussed financial and technical issues which delay Kirkuk oil exports resumption. The talks are to be completed in Ankara,” the statement said.
Iraqi oil officials accuse Kurdish authorities of not responding to requests made by the oil ministry to use the Kurdish pipeline to resume exports from Kirkuk.
Iraq needs at least three months to repair an old pipeline which was shipping Kirkuk crude to Ceyhan port in Turkey, SOMO has said. The main 600,000 bpd Kirkuk-Ceyhan pipeline had been offline since March 2014 following insurgent attacks.


UN compensation panel pays out $270m for Kuwait oil company

Updated 23 July 2019
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UN compensation panel pays out $270m for Kuwait oil company

  • The panel has approved 1.5 million claims brought by over 100 governments and international organizations
  • Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid

BERLIN: A United Nations panel that oversees compensation claims stemming from Iraq’s 1990-1991 invasion of Kuwait says it has paid out $270 million to Kuwait’s national oil company.
The Geneva-based UN Compensation Commission said Tuesday the tranche brings to $48.7 billion the amount it has paid out. Iraq must currently set aside 1.5% of proceeds from oil exports for the compensation fund and payments are made once per quarter.
The panel has approved 1.5 million claims brought by over 100 governments and international organizations, with all but one fully paid out.
The remaining claim, which includes the latest payment, comes from the Kuwait Petroleum Corporation. Some $3.7 billion of its $14.7 billion claim for oil production and sales losses resulting from damage to the country’s oil fields remains to be paid.