Iraq Kurdistan to resume oil export after reaching agreement with Baghdad

April 04, 2012 13:33

Iraqi Kurdistan Region assured, on Tuesday, that it will only resume oil export when it reaches a comprehensive agreement with federal government about due payments to Kurdistan.

“Kurdistan Government will not resume oil export before it reaches a comprehensive agreement with Baghdad about payment methods and dues to oil companies in the Region,” Natural Resources Minister Ashti Hawrami told the press.

“Kurdistan Government will only resume oil export when it reaches a general agreement with Baghdad,” Hawrami assured.

On April 1, Kurdistan Government announced intentions to stop oil export because of financial issues with Baghdad especially that federal government didn’t respect commitments to pay oil dues to Kurdistan. Iraq Premier Deputy for Oil Affairs Hussein Shahristani advanced, for his part, that Kurdistan deprived Iraq from 6.6 billion Dollars in both 2010 and 2011 when it paused oil exports. The amount of losses will strongly increase in 2012 too, Shahristani uttered.

Shahristani accusations are false, Kurdistan responded on Tuesday justifying that he intended to cover up for federal government’s failure to provide services to Iraqis. Some Iraqi parties are Chauvinists, Kurdistan Government described without advancing names.

Iraqi Oil Ministry had warned, on March 13, about major losses in Iraq’s treasury due to the decrease in Kurdistan oil exports. Kurdistan Government is currently exporting 65 thousand barrels per day and should respect its commitment to export the 175 thousand bpd mentioned in 2012 general budget.

Disputes between Baghdad and Erbil resulting from Kurdistan contracts with foreign oil companies are still pending. Kurdistan had started to unofficially export oil on June 1,2010, but paused the exports after just 90 days. Kurdistan resumed export tough, in February 2011, following a new agreement with Baghdad consisting of exporting 100 thousand bpd.

Source :  News Source
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