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Showing results for tags 'manage oil wealth'.
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The Iraqi Oil Minister proposes to establish a company to manage extraction and export in Kurdistan Iraqi Oil Minister Ihsan Abdul-Jabbar 13 October 2020 11:16 AM Mubasher: Iraqi Oil Minister Ihsan Abdul-Jabbar suggested establishing a company to manage the affairs of extracting and exporting crude oil in the Kurdistan region, while indicating that there are understandings between the governments of the center and the region regarding oil policy. Abdul-Jabbar said to the Iraqi News Agency, "INA": The directions of the Kurdistan Regional Government negotiator are in harmony with the directions of the federal government to reach a formula for constitutional solutions to disputes over the production and export of crude oil in the region. He added that he submitted a proposal to establish an oil company in the Kurdistan region to manage the extraction and export operations in the fields of the region, and that it is technically and administratively linked to the presidency of the region and the Federal Ministry of Oil, in order to reach a final agreement between the federal government and the region, similar to the oil companies operating in the producing provinces. He pointed out that there are positive understandings between the central government and the Kurdistan region regarding the production and export of oil produced in the fields of the region within the ongoing negotiations between the two parties related to the oil policy in the region in accordance with the constitution. He explained that the region has a positive spirit to resolve the points of disagreement over the nature of managing the region’s oil fields and the quantities of crude oil exported to global markets, indicating that there are positive indications in the talks with the region. He pointed out that the talks confirm the existence of new visions and ideas for the region to manage the oil fields with the center in Baghdad, indicating that the policy of the Ministry of Oil is to manage oil wealth, whether in the region or producing provinces in accordance with the constitution.
