PM Masrour Barzani explains what volume of oil Kurdistan is required to refine per day

ERBIL, Kurdistan Region (Kurdistan 24) – The Prime Minister, Masrour Barzani revealed on Saturday, November 23rd, 2024, which was the last day of MEPS2024, in the panel forum in Duhok, what oil volume Kurdistan is asked to produce per day. 

At Ms. Hadley Gamble's debate session, the Prime Minister participated to answer the questions were asked by her, regarding many important related issues to the Middle East including Kurdistan Region, and specifically the issue of halting oil exports. 

One of the most important issues was the oil refining volume in Iraq as well as Kurdistan Region. Iraq produces a certain volume of oil barrels per day, Kurdistan is required to do a certain volume too.

The Premier highlighted that there is a limit by OPEC organization, but at the same time what has been produced in Kurdistan is much less.

PM Masrour Barzani stated to the audience “we deserve more than that, considering the producing volume that Kurdistan should do.”

H.E. revealed that Kurdistan is now required to produce and export 500,000 barrels per day, however, that it is less than half of that volume should be.

The Premier stressed when Kurdistan is told to reduce the volume producing, it should not be fair because Iraq's production is required according to that OPEC limit, the costs and losses do not always have to involve Kurdistan.

The transcript text of PM Masrour Barzani’s answers in the debate regarding oil exports: 

“Iraq doesn't have an oil law, we have a law that belongs to the Saddam's era, which is designed for a central government.

It doesn't help a federal system, we have a federal country today, we have a federal system, that centralized law is not helpful in organizing relations between Baghdad and Erbil.

Unfortunately, after Baghdad decided to abolish all the previous laws, there is this law still in place, which is shocking, and we need to replace that with a new one.

There was a draft, back in 2007, but, unfortunately, it was never passed through to the parliament.

We still believe that we need to have a modern law that is good for a federal system.

And once we have that, I believe we can overcome many of the existing problems between Baghdad and Erbil.

Almost every month we lose a 1,000,000,000, so, it's over $20,000,000,000 that we've lost as a result of export of…

Unfortunately, this is hurting the rest of the country as well, but definitely, the biggest, part of the country that's suffering is Kurdistan.

Unfortunately, the losses that we have suffered are not being compensated, and so, you know, we see the delays in the salary payment.

We see a reduction in the revenues of the overall Iraqi revenues, which is not in the interest of the federal government nor in Kurdistan region’s.

Iraq is producing a certain amount of oil barrels per day, and they have a quota by the OPEC.

I can say that what we produce in Kurdistan is much less than what we deserve according to the percentage that Kurdistan is entitled to produce.

So, let's assume that Iraq is producing more than 4,000,000 or 4,500,000 barrels per day.

Now the numbers have changed, though, Kurdistan is entitled to produce at least 500.000 barrels, we are producing even less than half of that.

Tell us to reduce production, it's not fair because overall Iraqi production of oil needs to be reduced according to the quotas designed for Iraq, and it doesn't have to always come at the cost of the production in Kurdistan.” 

Updated