KRG releases its revenues from oil selling for three months

KRG releases its revenues from oil selling for three months

Shafaq News/ On Thursday, the Kurdish Government revealed

statistics on oil selling for the first three months of 2022.

The Government said:

• The crude oil sales totaled 35,191,236 bpd at 11,505,000 thousand dollars.

• The total crude oil export through the oil pipeline is 34,923,168 barrels. The price of one barrel of oil reached 86.730 dollars

• The total crude oil which was sold inside Iraq was 409,037 barrels. The price of one barrel of oil reached 84.230 dollars

It is worth noting that the Kurdish Regional Government (KRG) has been developing oil and gas resources independently of the Federal Government and exporting through a pipeline that runs from Kirkuk to the Turkish port of Ceyhan.

In 2007, Erbil enacted its law establishing the directives by which the Region would administer these resources.

Last June, Iraq's federal court deemed the oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional, according to a document seen by Shafaq News Agency.

The court's decision stated that the KRG must hand over all crude from the Kurdistan Region and neighboring areas to the Federal Government, represented by the oil ministry in Baghdad.

The ruling declared KRG oil contracts with oil companies, foreign parties, and states invalid. According to the document, this includes exploration, extraction, export, and sale agreements.

The Kurdish Parliament said that the Federal Court's decision

"violates the foundations of the federal system and the Iraqi constitution and is a severe blow to the Iraqi federal system, the governance process in Iraq, and the rights of citizenship."

The Parliament stressed that this law is similar to a previous law during Saddam Hussein's regime, noting that Article 112 of the Constitution confirms that managing oil and gas files is common between Baghdad and Erbil.

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