KRG Directs Resumption of Oil Exports in Coordination with Baghdad
By John Lee.
The Council of Ministers of the Kurdistan Regional Government (KRG) has instructed the Ministry of Natural Resources (MNR) to maintain coordination with the federal Ministry of Oil, State oil Marketing Organization (SOMO), and oil-producing companies in the region to ensure the swift resumption of Kurdistan Region’s oil exports through SOMO, with the revenue directed to the federal budget.
The instruction on Wednesday followsBaghdad’s approval of a budget amendment to appoint an international technical advisory firm to assess fair production and transportation costs for oil fields in the Kurdistan Region individually.
Oil exports via the Iraq-Turkey Pipeline (ITP)were suspended in March 2023 following a dispute between Baghdad, Erbil and Ankara.
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