Col. Myles Caggins at MEPS Forum 2024
According to the sources and experts, if the article is amended, the cost of oil refining and producing, in Kurdistan Region will increase from $5 to $16.
November 23rd, 2024
ERBIL, Kurdistan Region (Kurdistan 24) – Col. Myles Caggins, a former Spokesperson for the anti-ISIS Coalition and now Spokesperson for APIKUR (Association of the Petroleum Industry of Kurdistan) told Kurdistan 24 “the Iraqi government recently took some very good steps to resume oil exports from the Kurdistan Region, but it is important that Al-Sudan keeps his promise, and to be able to do that."
He stressed that as oil companies focused on being guaranteed in the future and get paid for the export and sale of oil, "refining and investing oil in Kurdistan Region are more expensive than other parts of Iraq."
According to his discussion in the panel and interview with Kurdistan 24, Iraq lost more than $22 billion revenue since the suspension of oil exports from Kurdistan Region.
Caggins confirmed that the U.S. Government invested more than $300 million in the oil investment in Kurdistan Region, also that Biden administration support resuming Kurdish oil exports from Kurdistan Region.
The Iraqi Prime Minister Mohammed Shiia al-Sudani chaired a meeting for the Iraqi Council of Ministers, on Tuesday, November 5, 2024, approving a proposal to amend the Article (12/b2/j) of the Three-Year Budget Law No. (13 of 2023).
According to the sources and experts, if the article is amended, the cost of oil refining and producing, in Kurdistan Region will increase from $5 to $16.