US policy is to resolve revenue issues, says US Consul General
Oil companies and several countries, including the US and Russia, have previously called for the resumption of oil exports.
ERBIL (Kurdistan 24) – The Kurdistan Regional Government's (KRG) acting Minister of Natural Resources Kamal Mohammed Salih on Tuesday met with US Consul General Mark Stroh in Erbil, according to a statement from the KRG Ministry of Natural Resources.
The US Consul General expressed his country’s desire to further invest in the electricity, energy, and oil sectors in the Kurdistan Region.
Regarding the resumption of oil exports from the Kurdistan Region, the US Consul General said that oil cessation has harmed the revenues and public sector of the Kurdistan Region.
"Resolving revenue issues and passing the oil and gas bill will be among Washington's policy and agenda priorities," Stroh said.
Mr. Mohammed expressed his gratitude to the top US diplomat for the role of the US in its efforts to resume oil exports and expand the industry.
The KRG, Turkey, and Iraq have participated in several rounds of negotiations since then to resume exports, whose loss is estimated to be about $7 billion.
Oil companies and several countries, including the US and Russia, have previously called for the resumption of oil exports.
Before the halt, the Kurdish region was independently exporting 450,000 barrels of oil per day through the pipeline, which was also sending another 100,000 barrels of Iraqi oil from Kirkuk Province.
For the Kurdistan Region to receive a 12.6 percent share of Iraq’s budget annually, it has to sell 400,000 barrels of oil per day via SOMO, per the country’s budget law.
