Iraqi Parliament to address Kurdistan Region oil exports
Prime Minister Mohammed Shia al-Sudani is expected to attend the session, underscoring the importance of the discussions.
ERBIL (Kurdistan24) – The Iraqi Parliament is set to convene on Wednesday to deliberate on four significant legislative items, including the resumption of oil exports from the Kurdistan Region.
Prime Minister Mohammed Shia al-Sudani is expected to attend the session, underscoring the importance of the discussions.
Among the agenda items, the fourth point involves the second reading of the budget amendment bill for fiscal years 2023, 2024, and 2025. The fifth item will be the second reading of the proposed fifth amendment to Civil Aviation Law No. 148 of 1974.
Vian Sabri, head of the Kurdistan Democratic Party (KDP) parliamentary faction, provided insights into the amendments. Speaking to Kurdistan24 on Tuesday, Sabri revealed that the second reading of the budget amendment bill will include changes to Paragraph (c) of the second section of Article 12 in Federal Budget Law No. 13 for the years 2023-2025.
Sabri explained that the amendment aims to address financial arrangements between Baghdad and Erbil. According to the proposed changes, the Federal Ministry of Finance will compensate the Kurdistan Regional Government (KRG) for costs related to the production and transportation of oil managed by the State Organization for Marketing of Oil (SOMO) or the Federal Ministry of Oil.
The amendment specifies that these costs will be estimated fairly and equitably for each oil field, based on evaluations by an international consulting firm to be appointed by the Federal Ministry of Oil in coordination with the KRG’s Ministry of Natural Resources. The consultation process is mandated to conclude within 60 days of the law’s enactment.