Kurdistan's rising fortunes allocate part of the oil revenues for the producing companies starting from September

Author: HA, RA
Editor: BS, HA
08/03/2015 16:43
Number of Views: 55

Long-Presse / Sulaymaniyah
The Ministry of Natural Resources in the Kurdistan Regional Government, on Monday, on the allocation of part of the direct revenues from oil sales to foreign companies producing in next September, as he emphasized its intention to develop the 2015 budget agreement with Baghdad.
The Ministry of Natural Resources in the Region in a statement received (long-Presse) a copy of it, that "the ministry is determined to develop a budget agreement in 2015 with Baghdad, through communication to facilitate the export of oil from fields operated by the state in Kirkuk through a network of pipelines to Turkey."
The statement added that "The ministry will allocate part of the direct revenues from oil sales to foreign companies produced starting from the month of September."
The federal government signed with the Kurdistan Regional Government, in (the second of December 2014 the past), the Convention requires that the Kurdistan Regional Government to export 550 thousand barrels of oil per day from fields and fields of Kirkuk, for sending the federal government's budget territory amounting to 17 percent of the budget public, but that agreement collapsed after the two sides exchanged accusations over the lack of commitment to them.
The Kurdistan Regional Government, confirmed in (the 17th of June 2015), it will be forced to take legal ways to address the financial and economic crisis in the region, if "Baghdad did not comply with" the budget law, and has then to export oil directly without handed over to the Iraqi Marketing Company (SOMO).
The government crisis cell, confirmed on Wednesday, (July 15 from the current 2015), on the need to adhere to the Convention on the delivery of oil Kurdistan region's oil and dues amounts, according to the law of the federal budget for the current year 2015.

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