Law: Agreement to export oil from the fields of Kurdistan under the supervision of “SOMO”
Law: Agreement to export oil from the fields of Kurdistan under the supervision of “SOMO”
6-7-2023
Information / Baghdad..
The leader of the State of Law coalition, Turki Al-Atbi, confirmed, on Wednesday, the agreement to export oil from the fields of the Kurdistan region, under the supervision of the Iraqi Oil Marketing Company (SOMO).
Al-Atbi said in an interview with Al-Maalouma, that “the discussions between the framework forces and the Kurdistan Democratic Party reached important results, most notably that the export and marketing of oil from the fields in the Kurdistan region will be under the exclusive supervision of SOMO as a federal company, and that the money will be placed in bank accounts under Supervision of the Central Bank of Iraq.
He added, “Resolving the oil export and marketing file is an important step that hastened to resolve the bulk of the differences in the 2023 budget,” pointing out that “oil is a federal wealth and must be managed directly by the relevant government companies.”
He pointed out that “the Kurds will attend tomorrow’s session to vote on the budget in light of the resolution of all outstanding differences in its items.”
The Democratic Party’s rejection of some provisions of the 2023 budget prompted the postponement of voting on it since last week.
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