Post Brought From Peoples Dinar
Awesomedtl, on 28 Jul 2014, said: What is the next bench mark to watch for!? If they vote for the Pm before next week, do you think we will still have to wait the 30 days for the new PM TO SEAT THE GOVERNMENT!? Thank you for new insight!!!
Steve: So you say "What is the next bench mark to watch for?", that would be the budget and the HCL, both of them are a significant key to the financial outcome of changing the value in the near future. Thanks for asking. Have a safe week. Steve
Iraq lays claim to Kurdish crude cargo in Texas - filing
Steve: Until the budget and the HCL are passed, this is going to continue to happen. I hate to see the US in the middle of this especially when Iraq is trying to unite not pull apart. Let it play out Steve
US judge signs order to seize Kurdish oil from tanker off Texas HOUSTON -
Steve: I see a battle now which will help get the laws passed quickly. I hope this speeds up the HCL and budget process being passed. If the budget gets passed quickly along with the HCL law, this will get put behind us. Steve
Related Article UPDATE 2-U.S. to seize Kurdish oil from tanker off Texas
(Reuters) - U.S. authorities are set to seize a cargo of oil from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes in an oil sales dispute between Iraq's central government and the autonomous region.\
The tanker United Kalavrvta, carrying some 1 million barrels of Iraqi Kurdish crude oil worth more than $100 million, arrived near Galveston Bay on Saturday, but has yet to unload its disputed cargo.
The U.S. judge's approval of the request from Baghdad deals another blow to the Kurdistan Regional Government's (KRG) attempts to establish its own oil sales, which are seen as a crucial step in the autonomous region's push for independence.
Baghdad, which is struggling to contain a Sunni Islamist insurgency that has captured swathes of central and northern Iraq, sees such oil sales as smuggling.
It has cut the KRG's budget since the start of the year over the oil sales dispute. Washington has opposed the KRG's oil sales, fearing they could contribute to a break-up of Iraq, but has stopped short of banning U.S. companies from buying the oil.
The judge's order was issued to the U.S. Marshals Service, an enforcement agency within the U.S. Department of Justice.
"Although the U.S. government did not act to stop the tanker, Baghdad has been able to make use of the U.S. courts," said Richard Mallinson at UK-based consultancy Energy Aspects.
"The question is now whether the KRG has anything left up its sleeve to either overcome this legal obstacle or to find buyers elsewhere in the world. The prospects for the Kurds putting oil exports on a sustainable footing without Baghdad's approval are looking increasingly dim."
A spokesman for the KRG's Ministry of Natural Resources did not immediately respond to requests for comment.
CNBC News said documents showed the buyer of the oil was a British Virgin Isles-registered company called Talmay Trading, which has previously traded Russian crude. Reuters was not immediately able to confirm the report.
The ship, which is too large to enter ports near Houston and dock, was given clearance by the U.S. Coast Guard on Sunday to transfer its cargo offshore to smaller boats that would deliver it to the U.S. mainland.
But Iraq's central government, in a court filing on Monday, laid claim to the cargo.
To carry out the order from Magistrate Judge Nancy K. Johnson of the U.S. District Court for the Southern District of Texas, the Marshals Service may need to rely on companies that provide crude offloading services.
The filings on Monday did not name the end-buyer of the cargo in the United States. AET Offshore Services, a company in Texas that had been hired to unload the tanker for the buyer, asked in a separate court filing whether Iraq's claims were valid.
The judge's order said the vessel would be allowed free movement after the cargo is unloaded.
The U.S. State Department has said the oil belongs to all Iraqis, and warned potential buyers of legal risks. But it has also made clear it will not intervene in a commercial transaction.
Piecemeal oil exports have gone from Iraqi Kurdistan to Turkey and Iran by truck in the past, which Baghdad also opposed. But the opening of a new pipeline to Turkey earlier this year, which could supply the Kurds with far greater revenues, has met much fiercer opposition from Baghdad.
At least one cargo of Kurdish crude was delivered to the United States in May to an unidentified buyer, and four other cargoes of Kurdish crude have been delivered this year in Israel.
One Kurdish tanker of crude pipelined to Ceyhan, the United Leadership, has been stuck off the coast of Morocco for more than a month.
Another, the United Emblem, has sailed to Asia, and is anchored about 15 miles (24 km) off the coast of Malaysia according to Reuters AIS Live tanker tracking after passing through the Singapore Strait, a key oil trading hub.
The case is Ministry of Oil of the Republic of Iraq v. Ministry of Natural Resources of Kurdistan Regional Governate of Iraq et al, U.S. District Court, Southern District of Texas, No. 3:14-cv-00249. (Reporting by Terry Wade in Houston and Julia Payne in London; Additional reporting by David Sheppard in London and Supriya Kurane in Bangalore; Editing by Mark Potter and Dale Hudson)
Marion, on 29 Jul 2014 -said: TY for the clarification Steve! May those new committees formed work through the budget to have it ready quickly for Parliament to vote quickly!
Steve: All we can do is sit and watch the progress happen like it is. This is so different than what was going on for the past few years, it is now getting exciting. Blessings,Steve
eddinar, on 29 Jul 2014 - said: My question is this…. If Kurdistan did not know the outcome of what's to happen, why would they ship $100 million dollars worth of oil to Texas?
Also, the USA must know as well because it makes no sense to me why they would ship this much oil half way across the world if it would be seized? They must know something….. Any thoughts?
Steve: It appears that the time they did this there was no budget or HCL agreement and Maliki was the one causing chaos between the two between the budget and the oil revenues.
I see the point that they need to be united but when Maliki destroyed this and the Kurds need the money because the budget was not passed, they took matters into their own hands.
It is right or wrong? I am not qualified to say but I do see valid points regarding both sides. Steve
In Topic: U.S. judge says Kurdish tanker near Texas out of court's jurisdiction