Oil: We received data from the Kurdistan Region and the relations are positive and heading towards a solution

by **claud39** Mon Feb 22, 2021 9:56 am

Oil: We received data from the Kurdistan Region and the relations are positive and heading towards a solution

02/22/2021

Oil: We received data from the Kurdistan Region and the relations are positive and heading towards a solution 23252

Economy News - Baghdad

The Minister of Oil, Ihssan Abdul Jabbar, expressed his optimism that the outstanding issues with the Kurdistan Region would be resolved in the near future, “if there is confidence between the two sides.” And while he indicated that the ministry received data from the Kurdistan Region after “information was almost withheld from the central government previously,” he denied the validity The news that Erbil has sold oil with contracts extending for fifty years.

Abdul Jabbar said in an interview with the BBC, followed by Al-Eqtisad News, regarding relations with the Kurdistan Region: “I think that they are on their way to a solution and there are high-level committees from the Kurdistan Region visiting Baghdad to discuss with those with political, technical and economic decisions in the field of budget. There is progress in the relationship. "

During the last period, the negotiating delegation for the Kurdistan Region headed by the Deputy Prime Minister, Qubad Talabani, made many repeated visits to Baghdad, which resulted in the inclusion of Article (11 - first) of the draft budget that provides for the settlement of dues between the federal government and the Kurdistan Region for the years 2004 to 2020 After the Federal Office of Financial Supervision, in coordination with the Kurdistan Regional Office of Financial Supervision, audited it.

The Federal Ministry of Finance will also, starting from the year 2021, download the debt installments owed by the Kurdistan Region granted to it by the Iraqi Commercial Bank and schedule it over ten years. Article (11-second) of the draft law obliges the Kurdistan Regional Government to deliver 250 thousand barrels of crude oil per day of oil The crude produced from its fields, and that the oil and non-oil revenues be delivered to the state treasury exclusively, but the objection of the Shiite blocs delayed the vote on the law.

The minister stated that "information was almost withheld from the central government previously, but now information and data have been exchanged between the Federal Office of Financial Supervision and the Office of Financial Supervision in the Kurdistan Region, and we in the Ministry of Oil received a number of data and it was agreed on a formula in the budget that the center would receive a value of 250 thousand." A barrel of crude oil at a sumo price, meaning high competition, and there are other formulas for discussion, and I think the issue is heading towards a solution. "

In response to what is rumored about the Kurdistan Region concluding an agreement with Turkey to sell oil for a period of 50 years, Abdul Jabbar explained: “The data received by us say other than this. The Kurdistan Region concluded at a certain stage contracts with companies of extraction, transportation and export based on the electrified political atmosphere during the period of signing These contracts, and we believe that these contracts were not successful at this time, although at that time they were a financial solution for the region, but now they are unsuccessful and lead to the failure to provide an integrated return from the export of crude oil. I believe that the near future will solve these problems with a joint agreement.

The Iraqi minister went on to say that "the relationship with the region will be positive in the near future if there is confidence between the two sides. We are trying to extend elements of confidence and give positive signals, and that the center thinks about the Kurdish people as it thinks about the people in central and southern Iraq, but the issue needs time to build confidence." .

The Kurdistan Region delegation will visit Baghdad again this week, to follow up on stabilizing the Kurdistan Region’s share of the budget and passing the draft law, which Parliament is scheduled to begin voting on as of next Thursday.

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