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Parliament expects Kurdistan to stop oil exports due to the withdrawal of international companies
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Economy News-Baghdad
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Economy News-Baghdad
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A member of the Parliamentary Economy and Industry Committee, Soran Omar, expected, on Sunday, that the Kurdistan region will witness withdrawals of international companies from the region, indicating that these companies preferred their interests in the south over the problems and disputes between the region and the center.
Omar said in a statement reported by the official "Al-Sabah" newspaper, "It is expected that we will witness other withdrawals of international companies from the region that have major projects in southern Iraq, which preferred their interests with the federal government in a legal manner over the problems and disputes between the region and the center."
He added, "All talks and negotiations so far are about positions and not about the region's entitlement or the problems between it and the center, especially with regard to oil and gas, and it was necessary to solve the problem since the beginning of the Federal Court's issuance of its decision to cancel the oil and gas law in the Kurdistan region."
Regarding the economic effects of the withdrawal of companies from the region, Omar said, “The withdrawal of foreign companies operating in the Kurdistan region will greatly affect the regional government in economic terms, especially since 90% of the revenues of the regional government come from oil imports, and therefore the withdrawal of these companies will stop the export of Oil, and this means ending the region economically, and we hope that this will not happen and that we will not reach this point.”
He continued, "In my opinion, international companies are not in their interest to fight this battle with the Federal Court," noting that "the only solution to this problem is the issuance of (the oil and gas law) in the Federal House of Representatives.
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