Parliamentary oil: Amending a budget paragraph enhances oil exports and understanding with Kurdistan
The Parliamentary Oil and Gas Committee confirmed on Wednesday that the amendment of the paragraph that paid the cost of extracting the oil of the Kurdistan Region and delivering it to “SUMO” opens the way to expand exports and improve coordination between the region and the center.
A member of the Parliamentary Oil and Gas Committee, Kazem Al-Tuki, told {Al-Furat News} that “Iraq is committed to the OPEC system in determining the quantities of oil production, pointing out that production is sometimes lower than the specified ceiling.”
He added: “The recent agreement with the Kurdistan Region included an amendment of a paragraph in the budget related to the payment of the financial cost of extracting oil and delivering it to SUMO, which opens the way for expanding exports or directing the region’s oil to refineries.”
He stressed the importance of this understanding between the region, the Center and the Ministry of Oil to achieve better coordination in the management of oil resources.
From.. Ragheed
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