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"Kurdistan Wealth" reveals the only obstacle to resuming the region's oil exports
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2024-10-17 14:16
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2024-10-17 14:16
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Shafaq News/ The Ministry of Natural Resources in the Kurdistan Regional Government announced today, Thursday, that a delegation from the Iraqi Ministry of Oil is currently in Erbil to discuss a number of issues, noting that his ministry has no objection to transferring all of the region's oil revenues to the federal treasury, but there is one obstacle still awaiting a solution to resume the region's oil exports.
The acting Minister of Natural Resources of Kurdistan, Kamal Mohammed, said in press statements that he expects his ministry to reach an appropriate imminent agreement with Baghdad regarding the issue of resuming the export of the region’s oil, noting that the region does not see any problem in exporting oil through SOMO and transferring all its revenues to the federal treasury, but the problem lies in the cost of extracting oil and the companies are not satisfied with the amount set for them, which is 6 dollars.
Mohammed pointed out that the oil companies exerted pressure on the Iraqi government to resume oil exports, noting that a delegation from Baghdad is currently in the region to discuss this issue.
Mohammed confirmed that the regional government provided full facilities to resume exports and that the companies contracted with it had been brought to Baghdad three times, adding that these companies could not produce oil at the price allocated to them, expecting to reach an appropriate solution to this issue with Baghdad.
The Kurdistan Minister of Natural Resources, Kamal Mohammed, confirmed in a special energy conference last week that since September 2, the Kurdistan Region has been producing 140,000 barrels of oil per day, which means that production has fallen by half. He pointed out that because of the halt in oil exports from the Kurdistan Region, the region has lost billions of dollars and that Iraq has lost more than 16 billion dollars as a result of this halt.
It is noteworthy that the decision to reduce oil production rates in the Kurdistan Region came at the request of Baghdad within the framework of Iraq's obligations towards the promises it made to OPEC+.
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The acting Minister of Natural Resources of Kurdistan, Kamal Mohammed, said in press statements that he expects his ministry to reach an appropriate imminent agreement with Baghdad regarding the issue of resuming the export of the region’s oil, noting that the region does not see any problem in exporting oil through SOMO and transferring all its revenues to the federal treasury, but the problem lies in the cost of extracting oil and the companies are not satisfied with the amount set for them, which is 6 dollars.
Mohammed pointed out that the oil companies exerted pressure on the Iraqi government to resume oil exports, noting that a delegation from Baghdad is currently in the region to discuss this issue.
Mohammed confirmed that the regional government provided full facilities to resume exports and that the companies contracted with it had been brought to Baghdad three times, adding that these companies could not produce oil at the price allocated to them, expecting to reach an appropriate solution to this issue with Baghdad.
The Kurdistan Minister of Natural Resources, Kamal Mohammed, confirmed in a special energy conference last week that since September 2, the Kurdistan Region has been producing 140,000 barrels of oil per day, which means that production has fallen by half. He pointed out that because of the halt in oil exports from the Kurdistan Region, the region has lost billions of dollars and that Iraq has lost more than 16 billion dollars as a result of this halt.
It is noteworthy that the decision to reduce oil production rates in the Kurdistan Region came at the request of Baghdad within the framework of Iraq's obligations towards the promises it made to OPEC+.
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