The head of the House of Representatives Mohamed Halboussi, on Monday, the Finance Committee in parliament to discuss several economic issues.
A statement on the office of Halabousi told the news that the latest financial committee to hold a joint meeting with the government and officials of the Ministry of Finance and follow-up from the presidency of the Council on Sunday and the next Monday to discuss on current and investment expenses and borrowing and the price of oil barrels and carriers and the development of regions.
The statement added that this comes “in line with the government program and the federal budget.”
He added that “the Minister of Oil (Thamer Ghadhban) will participate in the meeting and will discuss with OPEC producers and beyond the challenges of the oil market.”
Jihad stressed that “Iraq with any resolution aimed at stabilizing the oil market and oil prices and rebalancing the global oil market,” noting that “Iraq’s position will be positive with any resolution aimed at stabilizing oil prices in global markets and rebalancing them and in the interests of producers and consumers.”
“The decision will be collective, not individual, and stipulates that all parties agree on the solutions that are put in the face of market challenges,” he said
Iraq, November 12, 2018
SULAIMANI – A delegation from the Kurdistan Regional Government’s (KRG) Ministry of Finance arrived Sunday (November 11) in Baghdad to discuss the Region’s share of the 2019 federal budget.
A source from the ministry told NRT Digital Media that the delegation includes the Deputy Finance Minister and an adviser to the KRG Council of Ministers.
They met with members of the Council of Representatives’ Finance Committee and officials from the federal Ministry of Finance to discuss the draft budget.
“This is the first time that a delegation from the KRG is negotiating the Region’s [budget] share in Baghdad before the draft is approved,” the source added.
According to NRT Digital Media reporter Renas Ali, the Iraqi government’s parties reiterated that they planned to allocate 12 percent of the budget to the Kurdistan Region and that they based that number on population estimates.
The KRG delegation is seeking a share closer to 17 percent, which is what the Region had received in previous budgets.
On November 6, parliament initially rejected the proposed budget and, after some confusion, referred it to the then-undefined committee.
NRT Digital Media’s reporter in Baghdad said that Kurdish representatives voted against the draft budget and called for an increase in the Kurdistan Region’s budget share and more funding for the Peshmerga.
They also objected to the Kurdistan Region being referred to as “northern Iraq” in the budget language.
Sunni lawmakers also rejected the draft saying that reconstruction funding for Nineveh, Saladin, and Anbar governorates was not sufficient, given the level of damage sustained during the war against Islamic State.
The parliament in Baghdad is due to discuss the draft federal budget and the issue of internal customs checkpoints on Monday.
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Iraq, November 12, 2018
SULAIMANI — Iraq is preparing to export oil from Kirkuk to Turkey via the Kurdistan Region’s pipeline after halting exports to Iran, a member of Kirkuk Provincial Council has said.
“The Iraqi government has halted Kirkuk oil exports to Iran and it now wants to export the oil to Turkey,” Ahmed Askarai, head of the Kirkuk Provincial Council’s energy committee, told Voice of America on Saturday (November 10).
The only way to export the oil to Turkey is through the Kurdistan Region’s pipeline, the official said.
“There is information that Erbil and Baghdad reached an agreement on the issue two weeks ago,” he added.
Voice of America cited a source from the Iraqi Oil Ministry as saying technical preparations for exporting the oil to Turkey have been completed.
The northern Kirkuk oil fields are capable of producing 550,000 barrels of oil per day, which can be exported using the Kurdistan Region’s pipeline to the port of Ceyhan, spokesman of Iraqi oil ministry Assim Jihad said in May.
The other Kirkuk fields have the capacity to export 150,000 barrels of oil per day.
The shift from Iran to Turkey comes in the context of US’ reimposition of sanctions on Tehran earlier this month.
The United States restored sanctions targeting Iran’s oil, banking, and transport sectors in an effort to stop what Washington called its “outlaw” policies – steps that Tehran called economic warfare and vowed to defy.