Investment Opportunity in Ziyen.com, the owner of Rebuilding Iraq

+44(0) 800 772 3004
marketing@ziyen.com

KRG Paid $139 Million For Exports Last Month From Iraqi Government

"Last month the Kurdistan Region exported 4.4 million barrels of oil through SOMO Marketing Company, Baghdad in return sent 166 billion Iraqi Dinars to Kurdistan region,”

KRG have exported more than 4 million barrels of oil through the Iraqi government last month and received $139.5 million (166 billion Iraqi Dinars).

Iraq Finance Minister, Hoshyar Zebari made the comments in a meeting Wednesday with Aram Sheikh Muhammad, deputy speaker of the Iraqi parliament.

The autonomous Kurdistan Regional Government (KRG) and the Iraq’s central government in Baghdad have been at loggerheads over oil exports.

The Kurds cite the constitution to advocate independent international oil exports, but the government in Baghdad insists all sales must go through the State Oil Marketing Organization (SOMO).

"Last month the Kurdistan Region exported 4.4 million barrels of oil through SOMO Marketing Company, Baghdad in return sent 166 billion Iraqi Dinars to Kurdistan region,” Zebari said in the meeting.

“An attempt was made not to send the Kurdistan region any money, therefore it is important for the Kurdistan region to continue exporting oil through SOMO,” added the minister, who is himself a Kurd.

Over the oil dispute, the Iraqi government had cut payments to the KRG from the national budget.
Zebari also told the deputy speaker that, “Today, Wednesday, the Kurdistan region sent 579,000 barrels of oil to SOMO, and this is a good step.”

Categories

Read more news like this