World Bulletin/News Desk
Our goal is to export half a million barrels of oil every day to the global markets by the end of the year, Nechirvan Barzani, head of the Kurdish Regional Government, said Wednesday.
"We are open to dialog and negotiations with Baghdad but we want 17 percent from the Iraqi budget. Baghdad acted unconstitutionally by cutting our share of the governmental budget. Oil sales are transparent and appropriate according to the constitution," Barzani told the regional parliament, adding that, "we can’t wait forever for a deal from Baghdad. We can sell our oil."
Baghdad filed a lawsuit against Ankara, after Kurdish oil was sold and transported through Turkey. The selling of the oil bypasses Iraq's national State Oil Marketing Company and violates the country’s constitution, Baghdad claims.
The oil has been sitting in the southeastern Turkish port of Ceyhan for the last six months, while Irbil and Baghdad negotiated an agreement for the oil sales.
The regional Kurdish government, however, says that Baghdad cut their share of the revenues from the national budget and that they are determined to export oil via Turkey in order to compensate for the loss, claiming to do so is a unequivocal constitutional right and in line with 2007's Iraq oil law.
Iraq holds the world's fifth largest known oil reserves with 143 billion barrels.
Two ships collided in the Suez Canal, delaying traffic for several hours on the international route.
Gunmen have attacked the headquarters of the Houthi in the west of Yemen whilst in the southern city of Abyan there were clashes that erupted between local fighters and soldiers loyal to the Houthi group.
Coalition warplanes have struck the eastern province of Marib, targeting a Houthi camp
An Algerian diplomat who has remained anonymous has said that Saudi and Iranian officials were communicating via Algiers with a view to averting further military escalation in Yemen.
Two chlorine bomb were dropped onto Korin village with 17 people taken to hospital.
Local officials fear that the abandonment of the eastern province of Hadramawt will be an opportunity for Al-Qaeda to expand.
The former president of Yemen has knocked backed claims saying he has no plans on leaving Yemen.
A new visa requirement put in by Lebanon sees many Syrians living in fear with many already in abject poverty unable to move.
Brent crude price jumps above $64 per barrel Thursday after Al-Qaeda militants capture major oil terminal in southern Yemen.
Challenges are now reduced investment, high unemployment, and first fiscal deficit in four years, a World Bank report says.
The committee that has been formed to manage the funds of the Muslim Brotherhood confiscated on Thursday a hospital in Alexandria and a school in Cairo, accusing their owners of belonging to the Brotherhood.
India is Iran's biggest oil client after China although its imports from Tehran have declined under pressure from western sanctions.
According to residents, heavy fighting broke out in and around the central Yemeni city of Taiz
A coalition of rebel groups seized Idlib city at the end of last month in a campaign that appeared to catch the regime off guard.
Activists say Israel's inhumane policies contradict its own laws and international conventions.
Whilst the dates of delivery are still under discussion, Putin has said that Iran's flexibility in finding a solution to their nuclear programme spurred the new contract