Kurdistan Regional Government is considering reducing fuel subsidies and electricity

Erbil-Iraq Press -2 December: the Kurdistan Regional Government announced that it is considering ways to reduce private to support the energy sector, where falling oil prices put pressure on public finances are still some bills owed to international oil companies spending. Qubad Talabani, said Deputy Prime Minister of Kurdistan, told a news conference, "we examine options for reform and some are being implemented to reduce petroleum products and electricity subsidies." He added, "Our people are accustomed to generous public salaries and other payments funded by oil revenues. But what could have been implemented at $ 100 (a barrel) can not continue at $ 40. " He continued, "There is a great need for reforms to balance public finances of the territory and which had been weakened by the war against al-Daash". He added, that "the region offers diesel fuel and natural gas free of charge to independent producers of electricity, which raises support for electricity to be borne by the Government of Kurdistan to three billion dollars a year industry bill." And the Kurdistan Regional Government is locked in a dispute with the central government, which has reduced the money that the region received in the past year because of lack of commitment to the first oil agreement with Baghdad, making it unable to pay the salaries of staff not to mention the benefits of oil companies.
And the Government of the Kurdistan city of millions of dollars for oil producers such as international Genel Energy listed in London, but there are signs of the start of the flow of funds.

And the Government of the Territory decided to release funds to companies exporting oil for the month of November last payments in line with the previous two months as close to the Minister of Natural Resources official said last Monday.

But foreign companies have warned of shrinking investments in the region if the payments did not continue.

Bijan Rahmani, Executive Chairman of Norway's DNO said that work in the Kurdistan region that the city government to his company more than a billion dollars.

Rahmani said at the conference "without payments can not make investments more than necessary to maintain the integrity and the ongoing integration of our operations. Our production has fallen so far this year about 50 thousand barrels per day from its peak last spring because of lack of investment and lack of natural production fields. "