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"SOMO" discusses the mechanisms of discharging the crude oil produced in Kurdistan
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Baghdad today - Baghdad
The Oil Marketing Company "SOMO" discussed a meeting to discuss mechanisms for discharging crude oil produced in the Kurdistan region through the Federal Ministry of Oil.
And the company's media stated, in a statement received by "Baghdad Today", that "the Oil Marketing Company (SOMO) held a meeting (Tuesday, July 18), which included the general manager of the company, representatives from the relevant departments in the Ministry of Oil, the General Accounting Department in the Federal Ministry of Finance, and representatives of The Ministry of Natural Resources and the Office of Financial Supervision in the Kurdistan Regional Government to discuss the mechanisms of discharging crude oil produced in Kurdistan through the Federal Ministry of Oil.
He explained that "the competition is in accordance with Article / 12/ Second (a, b, c, d, e) of the Federal General Budget Law for the fiscal years 2023, 2024, and 2025," pointing to "developing the necessary steps to implement the above paragraphs in order to achieve the public interest."
And the political agreement between Baghdad and Erbil reached the establishment of points agreed upon in the budget items, represented by the region handing over no less than 400 thousand barrels per day to Baghdad, to export it and put the revenues in an account with the Central Bank of Iraq, and then Kurdistan’s share of the budget is transferred monthly in A special account on behalf of the regional government.
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