Iraq/Kurdistan: Kurdistan Passes Oil Accounting Law

Apr 3, 2015 | Patrick Osgood and Rawaz Tahir, Iraq Oil Report
View Original

Kurdistan’s Parliament passed a law establishing an oil revenue accounting body on Wednesday, a partial step in providing oversight of the region’s future oil revenue.The Oil and Gas Revenue Fund law tasks the regional Parliament with appointing a board of technocrats to provide formal and regular public accounts for the revenue that the Kurdistan Regional Government (KRG) accrues from autonomous exports and oil company contract bonuses, according to Article 8 of the law.