KRG oil exports will be delayed again
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2023-05-12 16:40:34
Draw Media
Turkey's Botas, which exports oil from the Kurdistan Region of Iraq, has not yet responded to the Iraqi government's request to resume oil exports, the Kurdistan Regional Government (KRG) acting Minister of Natural Resources said, "I don't think exports will resume tomorrow.
Iraqi Oil Minister Hayan Abdel-Ghani said that oil exports from the north are expected to resume tomorrow.
According to the Iraqi Oil Minister, the total daily oil exports from the Kurdistan Region and Kirkuk will reach 500,000 barrels per day.
"We have not received any response from Turkey's Botas to our request to resume oil exports," he said.
"I don't think the oil exports will resume tomorrow," said Kamal Mohammed, KRG acting minister of natural resources.
Turkey suspended oil exports from the Kurdistan Region of Iraq (KRG) on March 25 after the International Court of Arbitration in Paris ruled on the Iraqi government's complaint against Turkey over the use of the Iraqi pipeline to export oil from the Kurdistan Region.
The Kurdistan Regional Government (KRG) and the Iraqi Federal Government recently reached an agreement to resume oil exports, according to which, the KRG agreed to sell oil throug the Iraqi Oil Marketing Company (SOMO), However, oil exports have not yet resumed.
Coincided with the visit of Mohammed Shia' Al Sudani, the iraqi Prime Minister to Kurdistan Region, yesterday Iraqi Oil Minister and Deputy Prime Minister for Energy Affairs said SOMO has notified Turkey's Botas to resume oil exports from the north from Saturday.
According to reports, Turkish officials want to get guarantees that Iraq will forgive the (1 billion 500 million) dollars that the International Court of Arbitration in Paris imposed on Turkey as compensation.
The oil exports account for 77% of the Kurdistan Region's total revenue, therefore the KRG is now unable to fully cover the salaries of its employees, However, the Iraqi government has promised to send 400 billion dinars monthly to the Kurdistan Region until the 2023 budget is approved.
The government of Mohammed Shia' Al Sudani has come to power with a promise to resolve the oil and budget issues between Erbil and Baghdad for the first time since the fall of Saddam Hussein's regime.
Sudani promised to submit the federal oil and gas law to parliament within six months of taking office, but the six-month deadline has passed and there is still no news about the law.