Latest news with #AssociationofthePetroleumIndustryofKurdistan
Iraq Business
20-04-2025
- Business
- Iraq Business
Baghdad / Erbil / APIKUR Meeting "Collapses Before Takeoff"
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Tripartite Energy Meeting Collapses Before Takeoff According to a source from Iraq's Oil Ministry, the Iraqi side informed participants of the decision just hours before the meeting was due to begin, offering no new date for rescheduling. Click here to read the full article. Tags: Association of the Petroleum Industry of Kurdistan (APIKUR), Ceyhan, featured, Genel Energy, GKP, Gulf Keystone Petroleum, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), KRG, Kurdistan News, Ministry of Oil, oil contracts, oil revenues, OPEC, State Oil Marketing Organization (SOMO), Turkey, Turkiye
Iraq Business
14-04-2025
- Business
- Iraq Business
HKN Energy explores Expanded Cooperation with Iraq
By John Lee. HKN Energy, a US-based oil and energy company, held discussions today with Iraqi Prime Minister Mohammed S. Al-Sudani, as part of efforts to deepen its cooperation in Iraq's energy sector. During the meeting, Prime Minister Al-Sudani reaffirmed the government's commitment to fostering investment-friendly conditions and highlighted the facilitation measures designed to attract international companies to Iraq. He particularly welcomed the ongoing involvement of U.S. firms in the country's oil sector, noting that strategic partnerships with American businesses remain a cornerstone of Iraq's economic agenda. HKN Energy has oil interests in Iraqi Kurdistan, and is a member of the Association of the Petroleum Industry of Kurdistan (APIKUR). (Source: PMO)
Iraq Business
11-03-2025
- Business
- Iraq Business
APIKUR Pushes for Agreement to Resume Kurdistan Oil Exports
By John Lee. Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) member companies met with officials from the Government of Iraq (GoI) and the Kurdistan Regional Government (KRG) on March 6 to discuss the resumption of oil exports through the Iraq-Türkiye Pipeline. APIKUR reiterated that its member companies are ready to restart exports immediately, provided their longstanding conditions are met. The companies insist on: Payment Surety: Formal sales/lifting agreements with clear terms, ensuring full and timely payment for both past and future oil exports. Payments for oil supplied between October 2022 and March 2023 must also be settled directly and transparently, without intermediaries. Respect for Production Sharing Contracts (PSCs): The legal and economic terms of existing PSCs must be upheld. APIKUR insists that the role of an independent technical consultant, required under the revised Budget Law, should be limited to verifying that oil sales invoices comply with PSC terms. Full statement from APIKUR: Representatives from Association of the Petroleum Industry of Kurdistan member companies attended a meeting with Government of Iraq and Kurdistan Regional Government officials to discuss restoration of oil exports through the Iraq-Türkiye Pipeline on March 6. APIKUR member companies conveyed their conditions required to resume oil exports. Additional meetings are required to finalize agreements. APIKUR member companies (Companies) reiterate that they are ready to immediately resume exports through the Iraq-Türkiye Pipeline as soon as the conditions communicated repeatedly since November 2023 are met, that treats oil producers in Iraq's Kurdistan Region in a similar manner as oil producers in Federal Iraq. Fair and transparent agreements are necessary that include payment surety, transparent implementation of Iraq's budget law stipulations, and resolution of payments that are in arrears. The conditions are: Surety of payment for past and future oil exports. The Companies need formal sales/lifting agreements with the buyers of any exported oil, setting out terms and conditions and providing surety that Companies will be fully paid for the oil - even if in two tranches. There also needs to be agreements put in place that see Companies being paid for oil delivered but not paid for between October 2022 and March 2023. These payments need to be made directly and transparently to the Companies, without intermediaries or undue delays. The Companies need formal sales/lifting agreements with the buyers of any exported oil, setting out terms and conditions and providing surety that Companies will be fully paid for the oil - even if in two tranches. There also needs to be agreements put in place that see Companies being paid for oil delivered but not paid for between October 2022 and March 2023. These payments need to be made directly and transparently to the Companies, without intermediaries or undue delays. Maintenance of Production Sharing Contracts commercial terms and economics. The Companies' existing contracts are legally valid and their terms must prevail. The economic model within the PSC's must be respected. The work scope of an independent technical consultant, required by the revised Budget Law, should be agreed by all parties and limited to confirming that the Companies' oil sales invoices are prepared in accordance with the PSCs, and there needs to be formal agreed dispute resolution provision within the confirmation process. APIKUR member companies have recommended consultants to KRG officials from recognized independent international firms. " APIKUR member companies are ready to meet all stakeholders and finalize the agreements needed to resume oil exports, " said Myles B. Caggins III, APIKUR spokesman. " We appreciate the emphasis Prime Minister Sudani and the U.S. Government have placed on keeping all parties focused on swiftly restoring oil exports through the Iraq-Türkiye Pipeline to strengthen Iraq's economy. " (Source: APIKUR) Tags: Association of the Petroleum Industry of Kurdistan (APIKUR), Ceyhan, cg, featured, Genel Energy, GKP, Gulf Keystone Petroleum, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), KRG, Kurdistan News, Ministry of Oil, oil contracts, oil revenues, OPEC, State Oil Marketing Organization (SOMO), Turkiye
Rudaw Net
10-03-2025
- Business
- Rudaw Net
Oil producers welcome US-Iraq statements on oil exports resumption
Also in ECONOMY Baghdad says Kurdish oil exports could restart this month APIKUR demands payment guarantees, contract adherence to resume Kurdish oil exports Oil companies say $16 fee set by Baghdad for Kurdish oil 'temporary' 'Nothing achieved' in Baghdad meeting over Kurdistan oil exports: Source A+ A- ERBIL, Kurdistan Region - Oil producers in the Kurdistan Region on Monday welcomed the recent phone call between US National Security Advisor Michael Waltz and Iraqi Prime Minister Mohammed Shia' al-Sudani that called for the resumption of oil exports through the Iraq-Turkey pipeline. Myles Caggins, spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR), told Rudaw English that oil producers 'remain ready to resume exports as soon as we have new agreements for sales and lifting.' 'APIKUR appreciates the intent and statements from both Prime Minister Sudani and National Security Advisor Mike Waltz indicating the high priority of restoring oil exports through the Iraq-Turkey pipeline,' Caggins said. During the meeting, Waltz encouraged Baghdad to work with the Kurdistan Regional Government (KRG) to address the companies' persisting contract disputes and 'pay arrears owed to U.S. energy companies,' according to his statement on X. Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023 after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to begin independent oil exports in 2014. The Iraqi parliament in early February approved amendments to the federal budget law to authorize a $16 per barrel production and transport fee for international oil companies operating in the Kurdistan Region. This move is seen as crucial to restarting oil exports. The amendments also stipulated that the Iraqi federal government and the KRG must establish an international technical consultant body within 60 days to assess production and transportation costs for oil fields in the Kurdistan Region. If no agreement is reached, the federal council of ministers will appoint the body. 'We are ready to meet with all parties,' Caggins said. On Saturday, Iraqi government spokesperson Bassem al-Awadi told Rudaw that all major obstacles have been cleared for the resumption of the Kurdistan Region's oil exports and that they 'may restart this month.'
LBCI
04-03-2025
- Business
- LBCI
Kurdish oil export talks between Iraq and oil companies postponed after financial disputes: Reuters
Talks to speed a resumption in oil exports from Iraq's semi-autonomous Kurdistan region have been delayed until Thursday because of disagreements over terms between oil companies and the oil ministry, three sources told Reuters. The meeting had been scheduled for Tuesday but initial talks on Sunday ended without agreement on key issues including how foreign companies operating in the region would be paid, forcing the two-day postponement. The meeting was called after repeated statements by Iraqi oil minister Hayan Abdel-Ghani and his government said that the Iraq-Turkey pipeline, which has been shut for two years, would resume exports soon. But the Association of the Petroleum Industry of Kurdistan (APIKUR), which groups eight companies representing 60% of production from the region, said last Friday that there had been no formal approach offering any clarity on commercial agreements and guarantees of payment for past and future exports. Reuters
