Iraq to pay Kurdish oil deals
Erbil, Jan. 14 (AKnews) - Iraq is set to grant the Kurdistan Regional Government (KRG) a green light to sign deals with foreign oil companies on the grounds that Baghdad could see the contracts transparent in order to fund them, an official said on Thursday.
"Iraqi oil minister Hussein Shahristani funds the KRG oil deals after his ministry reviews the deals," said Iraqi MP on oil and gas committee Bayazid Hassan.
According to Hassan, Iraqi government pays companies interesting rate if the Kurdish deals are transparent, if not Iraq pays the rate from the 17 percent of the KRG budget.
Kurdistan Region exports 100 barrels of oil per day (bpd) and it is likely to increase it to 150 pbd by end of 2010.
The KRG oil income per year would reach US $555 millions if each barrel sold by US$70, Hassan said. He concluded with saying block of Kurdish oil export would harm the Iraqi economy.
ba gs AKnews
Thursday, January 14th 2010 9:20 AM
Erbil, Jan. 14 (AKnews) - Iraq is set to grant the Kurdistan Regional Government (KRG) a green light to sign deals with foreign oil companies on the grounds that Baghdad could see the contracts transparent in order to fund them, an official said on Thursday.
"Iraqi oil minister Hussein Shahristani funds the KRG oil deals after his ministry reviews the deals," said Iraqi MP on oil and gas committee Bayazid Hassan.
According to Hassan, Iraqi government pays companies interesting rate if the Kurdish deals are transparent, if not Iraq pays the rate from the 17 percent of the KRG budget.
Kurdistan Region exports 100 barrels of oil per day (bpd) and it is likely to increase it to 150 pbd by end of 2010.
The KRG oil income per year would reach US $555 millions if each barrel sold by US$70, Hassan said. He concluded with saying block of Kurdish oil export would harm the Iraqi economy.
ba gs AKnews
Thursday, January 14th 2010 9:20 AM