The Kurdistan Regional Government responds to parliamentary finance questions regarding oil contracts

by **claud39** Thu Feb 11, 2021 10:48 am

The Kurdistan Regional Government responds to parliamentary finance questions regarding oil contracts

02/11/2021

Economy News - Baghdad

The Kurdistan Regional Government responded to the Parliamentary Finance Committee's questions regarding oil contracts and the establishment of oil exported from the region.

According to a document seen by "Al-Eqtisad News", the Kurdistan Regional Government responded to the questions contained in the House of Representatives / Finance Committee book number 1821 on 01/26/2021, as follows:

First: Concerning the Kurdistan Regional Government’s readiness to review oil contracts, we would like to show that the Kurdistan Regional Government has practically begun reviewing its oil contracts and opened channels for re-negotiation with companies operating in the oil field within the framework of the oil file reform program. The regional government has no objection to reviewing oil contracts according to Provisions of the Constitution.

Second: The Kurdistan Regional Government is ready to hand over the entire amount of oil exported from the region, provided that the federal government is committed to all oil obligations, including the cost of production, transportation, storage, and debts owed by the region related to the oil file.

Third: With regard to the work of the Federal Office of Financial Supervision and Data Audit, the regional government confirms that it has no objection to conducting all audits of the region’s data in accordance with the mechanism stipulated in the provisions of Article 34, Paragraph Second, Clause B of Federal Financial Management Law No. 6 of 2019.

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