Iraq “officially” reassures energy companies in the Kurdistan Region and pledges to pay their dues
Shafaq News / Deputy Prime Minister for Energy Affairs, Iraqi Oil Minister Hayyan Abdul Ghani, revealed on Wednesday the details of the oil file between Baghdad and Erbil, stressing the amendment of the budget law to ensure the payment of the dues of companies operating in the Kurdistan Region, and provide official guarantees to them.
Abdul Ghani said in a speech during his participation in the 9th Sulaymaniyah Forum, followed by Shafaq News Agency, that “the federal government held negotiations with the region that resulted in the amendment of the budget law in order to cover the wages of companies operating in Kurdistan, and the law has already been amended to achieve this purpose.”
He added, “They reassured the producing companies in the region by obtaining an official letter signed exclusively by the Minister of Finance, including a pledge to pay the dues of those companies, which restored confidence and removed fears.”
Abdul Ghani continued, “The amount of oil produced in the Kurdistan Region is deducted from Iraq’s share within OPEC, and we were forced to reduce federal production so as not to affect Iraq’s total share, but this reflected negatively on exports. ”
He stressed that the visit of the Federal Prime Minister to the Kurdistan Region and his meeting with officials there, “had a great impact on accelerating the pace of negotiations between the two sides and achieving recent understandings.”
These statements come in light of a reminous effort to unify the oil policy between Baghdad and Erbil, amid challenges related to export and international obligations, at a time when the government hopes to consolidate trust with companies and ensure the stability of production and export.
