Iraq/Kurdistan: Kirkuk Governor: Oil Revenue to Kurdish Region Delayed

Dec 7, 2014 | World Bulletin
View Original

Revenue from oil exports to the Kurdish Regional Government is held up by government discussion of the 2014 budget, and by pipeline stoppages, Kirkuk Governor Najmiddin Karim said on Sunday. 

Karim said Kirkuk isn't getting its share for now, because the Iraqi Council hasn't approved the 2014 budget yet. "But the 2015 budget should be brought to the council and approved as soon as possible. Kirkuk's share per barrel will be $5 in the new year," he said.  

The fall in oil prices, and the halt in the oil transfers because of the pipeline damage, has hurt the national budget, Karim said. "The total of 550,000 barrels of oil from both the Kurdish region and Kirkuk will enable the Iraqi budget to recover." he said. 

The Iraqi council of ministers has approved an agreement between the central government and the Kurdish Regional Government about the division of revenue for oil exports. The agreement includes the potential export of 300,000 barrels per day from the Kirkuk oil fields through the Kirkuk-Ceyhan pipeline. The Iraqi government will receive a large part of the revenue from this export, but the Kurdish Regional Government should get a share of it as well.