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Iraq's oil minister proposes creating Kurdish crude upstream, export company.


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  • OIL
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  • 13 Oct 2020 | 07:04 UTC
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  • Dubai

Iraq's oil minister proposes creating Kurdish crude upstream, export company

HIGHLIGHTS

Firm would be technically and administratively linked to Erbil and Baghdad

Erbil and Baghdad have positive understanding to resolve oil dispute

Disagreement over oil policy complicates Iraq's OPEC+ compliance

 

Dubai — Iraq's oil minister has proposed creating a company to manage upstream and export operations in the semi-autonomous Kurdish region as Erbil and Baghdad hammer out an agreement to resolve their oil dispute.

 

The proposed company would be technically and administratively linked to the Kurdistan Regional Government and the federal oil ministry, Ihsan Ismaael told the state-owned Iraqi News Agency Oct. 13.

There is a positive understanding between Erbil and Baghdad regarding the production and exports of Kurdish oil as part of ongoing negotiations over the region's oil policy.

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Iraqi minister proposes forming company to handle Kurdish oil operations

 

The Iraqi oil minister has proposed forming a company to manage oil production and export operations in the semi-autonomous Kurdish region, state news agency INA reported on Tuesday

 
 
Reuters , Tuesday 13 Oct 2020
 
 
The Kurdistan Regional Government (KRG) and central government in Baghdad have been locked in a long-running dispute over oil and land rights in the northern Iraqi Kurdish region.

 

Talks on oil issues between the government and authorities in the Iraqi Kurdish region had reached a "positive understanding", Oil Minister Ihsan Abdul Jabbar said, according to INA.

The proposed state company's management would be technically and administratively linked to the Kurdish regional authorities and federal Oil Ministry, he said, adding that it would be similar to state-run firms in Iraq's crude producing provinces.

An Oil Ministry official told Reuters talks between oil officials from Erbil and Baghdad had made progress but more time was needed to reach a final agreement.

The semi-autonomous Kurdistan region of Iraq is still exporting oil without consulting the Iraqi federal government, the minister had said in September.

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