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Member of Parliamentary Energy: Kurdistan has a real intention to agree with Baghdad on the oil file

Member of the Parliamentary Energy Committee Repoir Taha confirmed on Tuesday (16 June 2020) that the Kurdistan Region has a real intention to agree with the federal government on the oil file.

Taha said in an interview with (Baghdad today), that “the Kurdistan region’s exports of oil documented by SOMO and the Federal Ministry of Oil amount to more than 441 thousand barrels per day, and it is subject to reduction as Kurdistan is part of Iraq and the latter is covered by the OPEC agreement, the reduction.”

He added, “The talk about the existence of oil exports to the Kurdistan region outside the officially announced figures is incorrect,” noting that “the Federal Ministry of Oil is the only party that officially informed us of Kurdistan’s oil export rates, which were more than 441 thousand barrels per day before being reduced.”

Taha pointed out that “there is a real intention for the Kurdistan region to agree with Baghdad, and both parties have a responsibility, because the region needs Baghdad and the last one needs the region to reduce its production, because it is calculated from the production of Iraq and we hope that the agreement will take place according to the public interest because the region is part of the federal government and that There will be a deduction for the oil revenue files and the rest of the other files. ”

The Organization of Petroleum Exporting Countries (OPEC) and its partners agreed to cut production by 10 million barrels per day until the end of July in order to support prices, as he asked Iraq to adhere to this reduction after he failed to adhere to what was agreed upon in May, as he continued to pump an additional 600 thousand barrels on his share. Amounting to 3.6 million barrels, according to Bloomberg data

During the past week, the Iraqi authorities had asked some Asian refineries to abandon contracted shipments, so that they could abide by their agreement with OPEC.

The grouping of oil producers is trying to control prices, which have been affected by declining demand due to the Corona pandemic. Source