$10 billion lost: KRG urges swift restart of oil exports
Shafaq News/ On Wednesday, the Kurdistan Regional Government (KRG) affirmed it is fully prepared to resume oil exports after removing all internal obstacles, placing responsibility for the delay on the Iraqi federal government and international oil companies.
Kurdish Prime Minister Masrour Barzani affirmed in a statement that the KRG fully backs ongoing talks with the federal government and international oil companies to resume crude exports under Iraq’s federal budget law. He emphasized, “There are no longer any technical or political obstacles on our side.”
Senior officials at the meeting, including Cabinet Secretary Amanj Rahim and Council of Ministers Chief Umid Sabah, reviewed the status of tripartite negotiations between the KRG, Baghdad, and oil companies. They described the recent talks as constructive and said efforts are ongoing to finalize pending issues and reach an agreement.
The KRG further called on all sides—including Iraq’s state oil marketer SOMO and private firms—to maintain momentum and work toward an agreement that would restart exports and prevent further financial losses to the federal treasury, which the KRG estimates have exceeded $10 billion due to the prolonged halt.
The KRG stressed the need to prioritize retirees’ rights and tasked the Ministries of Finance and Economy, Peshmerga Affairs, and Interior with forming a joint committee to develop mechanisms for the timely and uninterrupted payment of pensions and entitlements across civil, military, and security sectors.
