Kurdistan Region ratifies agreement to resume oil exports, awaiting Baghdad’s signature
Kurdistan Regional Government Prime Minister Masrour Barzani chaired a cabinet session on Wednesday to discuss the tripartite agreement between the regional government, the federal government, and private oil companies regarding the resumption of the region’s oil exports.
A government statement received by Shafaq News Agency said that Minister of Natural Resources Kamal Mohammed Salih presented the details of the agreement, indicating that it had been ratified by all three parties, with the exception of DNO. It will then be referred to the Federal Ministry of Oil, awaiting signature within a day or two. This paves the way for the start of exports via SOMO, with the exception of quantities allocated for domestic use.
The minister affirmed that the regional government has prepared all necessary measures to implement the agreement. Meanwhile, Chief of Staff of the Council of Ministers, Omid Sabah, explained that the obstacles facing the negotiations were overcome through the efforts of all parties, leading to the agreement being ratified collectively.
For his part, Cabinet Secretary Ayman Rahim explained the terms of the agreement, which guarantee the rights and obligations of the federal government, the regional government, and the oil companies. He noted that its implementation will ensure the timely disbursement of salaries to the region’s employees without delay.
The Council welcomed the federal government’s decision to approve the agreement and disburse the region’s dues for July 2025, affirming its readiness to follow through on all commitments to ensure regular salary payments.
In a second axis, the Cabinet discussed the distribution of oil revenues and federal revenues, reviewing the legal and constitutional frameworks related to it before referring the file to the Federal Cabinet for further deliberations.
It was also decided that the Kurdistan Regional Government’s Ministry of Finance and Economy would disburse an additional 120 billion dinars from the federal share for July, to the federal Ministry of Finance, as a prelude to unifying the oil revenue file between the two parties, in coordination with the joint ministerial committee in Baghdad.
Earlier today, the Kurdistan Regional Government announced the completion of the payment of salaries to employees in the region for July and August, after completing the transfer of 120 billion dinars of the region’s revenues to the federal government in Baghdad.
The Iraqi government decided yesterday, Tuesday, to pay the salaries of Kurdistan Region employees for the month of July, according to an informed government source.
The source told Shafaq News Agency that the Iraqi Council of Ministers decided yesterday to pay July salaries, pending an agreement on non-oil revenues to pay the remaining salaries for the remaining months (August and September).
On May 26, the Federal Council of Ministers approved the Ministry of Finance’s payment of salaries to Kurdistan Region employees for June 2025, with the regional government paying 120 billion dinars as a non-oil revenue payment.
Shafaq.com