Baghdad opens to KRG's 'economic independence'

Iraq govt isn’t opposed to Kurdish Regional Government exporting its own crude oil, Kurdish official says

Baghdad opens to KRG's 'economic independence'

World Bulletin / News Desk 

Baghdad supports the “economic independence” of the Kurdish Regional Government (KRG) in Erbil and is not opposed to it selling its oil independently, a member of the Kurdistan Democratic Party has said.

“Baghdad is not against Erbil selling its own oil,” Ardalan Nureddin, a member of the Kurdistan Democratic Party, told Anadolu Agency on Wednesday.

“One can even say it supports Erbil's economic independence and no longer considers this a problem as it did in the past,” he said.

If the KRG could sell its own oil, he added, “it would earn a great deal of income, allowing it to overcome its current economic crisis.”

According to a monthly export report for June issued by the KRG's Natural Resources Ministry, Erbil's crude oil exports – currently overseen by Iraq’s SOMO oil marketing company – missed its target last month by some 400,000 barrels per day (bpd).

In return, Erbil agreed to export 300,000 bpd from Kirkuk, and another 250,000 bpd from northern Iraq under SOMO’s supervision.

Baghdad, however, says the KRG has yet to deliver the promised oil from Kirkuk.

"Both sides want to resolve the problems stemming from oil sales and budget allotments," Nureddin said, adding that representatives of both Baghdad and the KRG were planning to meet in hopes of resolving the twin issues.

"The KRG believes a new oil and budget agreement must be reached with Baghdad," the Kurdish politician said.

Güncelleme Tarihi: 08 Temmuz 2015, 16:17