No dispute between Erbil and Baghdad on the issue of oil export: Iraqi Foreign Minister

FM Hussein argued that the suspension of the Kurdistan Region’s oil export harms all of Iraq, not just the Kurdistan Region.
Fuad Hussein, the Foreign Minister of the Iraqi Republic, during his interview with Kurdistan 24, May 3, 2023. (Photo: Kurdistan 24)
Fuad Hussein, the Foreign Minister of the Iraqi Republic, during his interview with Kurdistan 24, May 3, 2023. (Photo: Kurdistan 24)

ERBIL (Kurdistan 24) – Fuad Hussein, the Foreign Minister of the Iraqi Republic, on Wednesday, gave an exclusive interview to Kurdistan 24, addressing several outstanding issues. 

Regarding the resumption of the Kurdistan Region’s oil export, the Iraqi Foreign Minister affirmed that there is no dispute between Erbil and Baghdad and a Turkish delegation will be invited to Baghdad to discuss the issue.

FM Hussein argued that the suspension of the Kurdistan Region’s oil export harms all of Iraq, not just the Kurdistan Region.

He expects the federal budget bill will be approved by Parliament in the next few weeks, which includes a percentage share for the Kurdistan Region. 

Kurdistan Region Prime Minister Masrour Barzani visited Baghdad on April 4 and signed a new interim oil agreement. This would allow the Kurdish region to export oil to Turkey’s Ceyhan port. Following the signing ceremony in the Iraqi capital, PM Barzani and Iraqi Prime Minister Mohammed Shia’ Al-Sudani held a joint news conference to announce the new deal.

Per the new deal, the Iraqi state-owned marketing company, SOMO, will market and export 400,000 bpd of Kurdish crude oil at market prices.

Kurdish oil sales will be deposited in a Central Bank of Iraq (CBI) account owned by the KRG and monitored by Baghdad, according to the agreement.

The Iraqi government spokesperson, Basim Alawadi, previously announced that the budget proposal estimates oil revenues at 117.3 trillion Iraqi dinars while non-oil revenues will be 17.3 trillion Iraqi dinars.

The total proposed expenditure amounts to nearly 198 trillion Iraqi dinars, while investment projects are estimated at 47.5 trillion Iraqi dinars.