BasNews 12/12/2019 – 23:27 Published in Kurdistan
ERBIL – The Kurdistan Regional Government will start to hand over 250,000 barrels per day to the Iraqi government on the 1st of January, 2020, Iraq’s Minister of Oil said on Thursday.
After a chain of meetings between the sides, the Kurdistan Region and Iraq reached an agreement earlier, based on which Erbil will begin handing over 250,000 bpd of crude oil to the Iraqi Oil Marketing Company (SUMO).
Speaking to Al-Sabaah newspaper, Iraqi Oil Minister Thamer al-Ghadhban, said that “the KRG and Iraq Federal government are serious in solving the oil issue, in which several negotiations with the Kurdish delegation occurred regarding how to move forward,” as cited by Kurdistan 24.
“The last two meetings were an intensive discussion on the national budget bill, finding joint mechanisms on how to calculate the Kurdistan Region’s share,” al-Ghadhban continued.
The Iraqi minister explained that the agreement between Erbil and Baghdad will be put into effect on the 1st of January, 2020.