Oil and energy calls on the Government to resolve the territory's oil exports stopped resolution


Invited the Commission on oil and energy parliamentary federal Government to move quickly in accordance with the law and powers given to the termination of a case, stopped oil exports of Kurdistan as a large financial loss caused.

Kurdistan decided earlier this month to stop exporting oil on the back payments by the Federal Government for funds to foreign oil companies operating in the territory.

According to the law of the federal budget for the current year, the Kurdistan binding export 175,000 barrels a day, compared with 17 percent of the federal budget.

Committee Member said Baha Hadi, Wednesday, (Orr) that "the Federal Government must act in accordance with the law and powers and the legal regulation of the termination of a case, stopped oil exports of Kurdistan being caused substantial financial losses for the Iraqi people and affect the financial obligations of the Federal Government."

"The decision to halt oil exports is unwise decision taken by the Kurdistan Regional Government and is detrimental to the Iraqi economy."

Spin differences between Baghdad and Erbil on a recent oil contracts with foreign firms without coordination with the Ministry of oil and the Federal territory attributed to the absence of a federal law governing the nature of the relationship between Baghdad and Erbil on oil wealth.

The territory has concluded contracts with foreign oil companies to develop oil fields but Baghdad does not recognize those contracts, and the two sides held several rounds of negotiations without reaching a final solution to the differences on the draft law of oil and gas.

The Kurdistan Regional Government announced in November to sign contracts for the six regions with Exxon exploration — the first major oil company deal with Kurdistan directly.

The Central Government said that the agreement might jeopardize Lacson contract for the development of the first phase of the West Qurna field in southern Iraq giant.