A spokesman for the Iraqi government reveals the most important provisions of the oil export agreement with the Kurdistan region
A spokesman for the Iraqi government reveals the most important provisions of the oil export agreement with the Kurdistan region
2023-04-05
On Tuesday, a spokesman for the Iraqi government, Basem Al-Awadi, revealed 4 basic items included in the agreement between the federal government and the Kurdistan Regional Government regarding oil exports.
Al-Awadi told state television, “The agreement included 4 basic items. The first is the export of 400,000 barrels of oil per day from the Kurdistan region through the National Oil Company (SOMO) and naming a representative of the region in the company. This is happening for the first time, and it was suggested that he be an assistant to the president of SOMO.”
He added, “The second item included the formation of a quartet committee at the rate of two representatives from the Federal Ministry of Oil and two from the Ministry of Natural Resources in the region. This committee supervises the sale of oil extracted from the Kurdistan region in global markets until the issuance of the budget or agreement to speed up the oil and gas law, meaning that this The point is temporary.
And he continued, “The third item is related to the Kurdistan Region’s agreements with 4 international companies, and many of the provisions of these agreements have binding legal points. According to the agreement, the region demanded today the assistance of experts from the Federal Ministry of Oil to facilitate negotiations with these companies in order to implement the new agreement.”
Al-Awadi indicated that “the fourth item included opening a bank account under the supervision of the federal government, and Baghdad demanded that the account be in the central bank, and the formula was modified so that the account be in the bank itself or a bank accredited by the central bank and authorizes the president of the Kurdistan government the authority to exchange under the supervision of the Federal Office of Financial Supervision in what It is only related to the federal budget for the year 2023.
On the guarantees of implementation, Al-Awadi indicated that “the signing of the minutes of the agreement in the presence of Prime Minister Muhammed Shi’a al-Sudani and President of the Kurdistan Regional Government, Masrour Barzani, provides the guarantee.”
burathanews.com
