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Parliamentary Oil: The agreement between the government and the region is “permanent”
The first 2023/04/17
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Rula Wathiq
The Oil, Gas and Natural Resources Committee in the House of Representatives decided that the export of the Kurdistan region’s crude will be permanent, as required by the decision of the Commercial Court in Paris, while an oil expert explained that the recent agreement between the government and the region will give transparency and control to the two parties in knowing the fate of oil revenues.
Committee member Kazem Al-Touki told Al-Sabah that the recent agreement between the government and the Kurdistan region provided for the export of the latter's oil through the Oil Marketing Company "SOMO" to sell it to international markets.
He added that the decisions of the Commercial Court stipulated obligating the Kurdistan Region to do so, and forcing all parties to sit at the dialogue table to resolve this issue.
And Al-Touki indicated that the Kurdistan region will, according to the court’s decision, send about 400-450 thousand barrels per day to SOMO, and check all the data of the region’s employees through the Office of Financial Supervision, in exchange for the government paying the region’s financial dues, stressing that this decision will be permanent and cannot be temporary. .
For his part, oil expert Dr. Furat al-Moussawi told "Al-Sabah": The government and the region signed a temporary agreement allowing the resumption of exporting Kurdistan's oil until the House of Representatives votes on the oil and gas law, which is a vital step to end the long dispute between Baghdad and Erbil.
He added that the agreement stipulates that Kurdistan's oil sales will take place through the Oil Marketing Company "SOMO", which means that Erbil will no longer manage the oil file alone, in addition to depositing the total revenues of oil exported from the region's fields in a bank account with the central bank or one of the accredited banks. By the bank, in addition to creating an assistant position for the general manager of the Oil Marketing Company, provided that the regional government nominates the name that will occupy this newly created position.
Al-Moussawi indicated that, according to the agreement, Erbil must hand over part of its oil production amounting to 400 thousand barrels to Baghdad, which requires the latter to pay the salaries of public employees in the region, considering this agreement that it will give transparency and control to the two parties in knowing the fate of oil revenues, and the elimination of old disputes. Since 2014.
Edited by: Ali Mouafaq
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