Parliamentary Committee Reveals Details of Financial Settlement Between Baghdad and Erbil Regarding Oil
Parliamentary Committee Reveals Details of Financial Settlement Between Baghdad and Erbil Regarding Oil
2-22-2025
Al-Maalouma / Special..
Member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkoor, revealed today, Saturday, the details of a financial settlement agreement between the federal government in Baghdad and the Kurdistan Regional Government, following the decision of the Ministry of Oil to export oil through the Ceyhan crossing.
Al-Mashkoor said in a statement to / Al-Maalouma / agency, that “oil export operations from the region will be carried out under the supervision of SOMO, the company responsible for marketing Iraqi oil, in order to ensure the transfer of all financial revenues to the federal government, in line with the recent agreement between Baghdad and Erbil.”
He added, “There are financial settlements between the federal government and the Kurdistan Region regarding the revenues of exported oil, as these amounts will be deducted from the financial dues allocated to the region, either through the advance mechanism or through specific and agreed-upon payments.”
Regarding the debts owed by the Turkish side, which the Paris Court issued a ruling on, Al-Mashkoor explained that “Iraq and Turkey have reached an agreement to settle these dues, either by deducting them from the financial revenues resulting from exporting oil through Turkey, or by paying them as financial advances.”
Al-Mashkoor concluded his speech by stressing that “these steps come within the framework of regulating oil export operations and ensuring Iraq’s financial rights in accordance with the agreements concluded between the concerned parties.”
The Ministry of Oil had previously announced the completion of all necessary procedures to resume the export of oil produced in the Kurdistan Region via the Turkish port of Ceyhan.
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