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[size=46]Parliamentary Oil and Energy Committee: The region’s oil is more expensive[/size]
Economy
13:14 - 2023-11-14
[You must be registered and logged in to see this image.]13:14 - 2023-11-14
A member of the Parliamentary Oil and Energy Committee attributed the delayed resumption of Kurdistan Region oil exports to the contracts concluded by the regional government with producing companies.
Committee member Adnan Al-Jabri said in a press statement, “The issue of exporting the region’s oil via Turkish Ceyhan is still a controversial issue between the two parties and must be resolved.”
He added, "If the agreement is that the oil will be exported through the National Oil Company (SOMO) and the federal government will bear the costs, then the matter requires extensive negotiations because the model and context of the contracts concluded in the region differ greatly from what is the case in federal oil because the region's oil is more expensive and may be Financial consequences for the federal government.”
A government delegation from Baghdad, headed by Oil Minister Hayan Abdul Ghani, arrived the day before yesterday, Sunday, in Erbil to discuss resuming oil exports with the Kurdistan Regional Government.
Speaking to reporters upon his arrival at Erbil International Airport, Abdul Ghani said that the aim of the visit was to bring closer views on resuming the export of Kurdistan’s oil.
He added: The first step is to reach an agreement with the producing companies and the regional government on resuming production and adapting the currently existing contracts to fit the budget law, stressing that there are understandings between Baghdad and Ankara regarding the resumption of oil exports through the Iraqi-Turkish line.
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