Speaking to Anadolu Agency (AA), Dizayee denied allegations made by some media that around $90 billion of oil has already been exported without seeking Baghdad's approval.
"Our negotiations with Baghdad continue, and we are hopeful about reaching a reconciliation. Oil exportation will begin thereafter," he affirms.
Dizayee confirmed that Monday's meeting between the Kurdish delegaton headed by Prime Minister Nechirvan Barzani and Iraqi officials in Baghdad, was positive and said, "We are now discussing the technical details. Debates on the alleged exportation of Kurdish region's oil has ended. However, no agreement has been reached yet and meetings will proceed."
The amendments in question propose that the income from the exported oil be collected by the Iraqi government and that 17 percent of the total collected income be given to the regional administration.
What does each side want?
Dizayee affirmed that the Kurdish regional administration wants to trade oil themselves as opposed to trading through Iraq's national oil company, (SOMO). The Kurdish regional administration propose that the revenue generated through this trade will then be sent directly to the Central Bank in Irbil and Baghdad's 83 percent share will be forwarded on by the Kurdish regional administration.
Baghdad, on the other hand, asserts that trade should be conducted through SOMO only, a move that the Kurdish administration rejects as Dizayee expressed Barzani's frustration on not receiving their 17 percent share from the oil revenue.
"This is a political decision by Baghdad, which can never be accepted," emphasized Dizayee.
In November 2013, the Turkish and Kurdish regional administration officials signed an agreement to enable Kurdish oil to flow from Taq Taq to the Ceyhan port on Turkey's south-eastern Mediterranean coast. The agreement allows Iraqi Kurdish oil to be stored and exported at times when no oil is pumped by the central Iraqi administration. Baghdad, however, says the agreement violates the constitution if oil is exported through other channels apart SOMO. The stored oil in Ceyhan has been awaiting Baghdad's approval to be exported. Irbil and Baghdad have so far carried out three meetings to reach an agreement on the issue.
Iraq, which holds the world's fourth largest oil reserves, could not approve the 2014 budget due to a boycott led by 57 Kurdish deputies and other groups who opposed two of the bill's amendments.