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{SOMO} discusses the mechanisms of discharging Kurdistan's oil
The first 2023/07/22
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Baghdad: Al-Sabah,
the Oil Marketing Company "SOMO" discussed the mechanisms of discharging the crude oil produced in the Kurdistan region through the Federal Ministry of Oil.
And a company statement stated that “the discussion 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,” noting that “the necessary steps are put in place to implement the above paragraphs in order to achieve the public interest.”
He continued, "The political agreement between Baghdad and Erbil represented the region handing over at least 400,000 barrels per day to Baghdad, for SOMO to export it and put the revenues into an account with the Central Bank of Iraq, and then Kurdistan's share of the budget is transferred monthly into a special account in the name of the regional government."
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