SLEMANI, Kurdistan region ‘Iraq’,— Political issues inside the region have affected sales of Kurdish oil in international markets as well as general investment, a senior Kurdistan Regional Government (KRG) official said on Monday. Speaking on NRT’s Tawtwe program, KRG Natural Resources Minister Ashti Hawrami said oil buyers have contacted him to see whether he is still in his position or not due to media reports claiming otherwise. “When oil buyers hear something happening in Kurdistan Region, they contact me and ask if I am still in my position,” Hawrami said on the analysis program. “They say if I am not in my position anymore, they will stop buying oil.” A number of government lawmakers and officials have blamed the minister for the region’s financial crisis and have called for his resignation. Hawrami, however, blamed low investor confidence on media reports of the region’s political infighting and a possible early election.
“We created the crisis ourselves,” he said. “Stories released saying the KRG would change or an early election would be held.”
“This makes investors feel shy to work in the region. All of this affects sales and investors in the oil sector,” he added.
Hawrami stated the KRG began independently selling oil 60 days ago and has lost $500 million due to attacks inside Turkey on the Kurdistan-Ceyhan pipeline.
The Ministry of Natural Resources released a statement on August 2 saying the Kurdistan Region had lost up to $250 million in potential oil revenue as a result of “repeated attempted thefts and sabotage attacks on the pipelines that carry crude oil from the Kurdistan Region to Ceyhan in Turkey,” which it said began on July 27.
A follow-up MNR statement issued on August 18 said continuous attacks on the pipeline between July 1 and August 17 have resulted in an additional $251 million in revenue loss, bringing the total to $501 million.
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“This makes investors feel shy to work in the region. All of this affects sales and investors in the oil sector,” he added.
Hawrami stated the KRG began independently selling oil 60 days ago and has lost $500 million due to attacks inside Turkey on the Kurdistan-Ceyhan pipeline.
The Ministry of Natural Resources released a statement on August 2 saying the Kurdistan Region had lost up to $250 million in potential oil revenue as a result of “repeated attempted thefts and sabotage attacks on the pipelines that carry crude oil from the Kurdistan Region to Ceyhan in Turkey,” which it said began on July 27.
A follow-up MNR statement issued on August 18 said continuous attacks on the pipeline between July 1 and August 17 have resulted in an additional $251 million in revenue loss, bringing the total to $501 million.
Copyright ©, respective author or news agency, nrttv.com
SOURCE