Ashti Hawrami News
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Iraq’s Kurds will start exporting crude by pipeline “very soon” after the completion of a new link to the Turkish border by the end of September, the Kurdistan Regional Government Natural Resources Minister said.
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A Turkish port serving Iraq, Libya and Iran is planning to sell bonds, taking advantage of record- low interest rates to pay off debt and expand as the nation’s trade with the Middle East booms.
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Iraq’s government will start making payments to international oil companies working in the northern Kurdish region next week, said Ashti Hawrami, natural resources minister in the Kurdistan Regional Government.
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Exxon Mobil Corp. is honoring its oil exploration contracts in the semi-autonomous Kurdistan region of northern Iraq, the Kurdish minister for natural resources said in disputing a report from Iraq’s government.
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Iraq’s Kurdish region has signed a landmark agreement with Turkey to supply it directly with oil and gas, two people familiar with the matter said.
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Iraq’s Kurdish region could export 250,000 barrels of oil a day this year and is “on track” with discoveries to ship 1 million barrels a day by 2015 and 2 million by 2019, its natural resources minister said.
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Iraq’s Kurdish region will resume sending crude to Turkey by truck in about a week and is in talks with international companies to develop oil fields, even as the country’s central government branded such deals illegal.
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The Kurdistan Regional Government in northern Iraq will resume oil exports in early 2011, Kurdish Natural Resources Minister Ashti Hawrami said.
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Iraq will pay money today that it owes to international oil companies pumping crude in the country’s northern Kurdish region, an official with the semi- autonomous Kurdistan Regional Government said.
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The Iraqi government will pay foreign oil companies producing in the country’s northern Kurdish region under a deal reached to resume crude exports from the area, Oil Ministry spokesman Asim Jihad said.
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