The Iraqi parliament failed to finalize a deal with Kurdistan regarding oil exports due to disagreements over compensation costs, delaying a decision until the new parliamentary session.
The Iraq i parliament ended this year’s session without finalizing a deal with the semi-autonomous region of Kurdistan for the exports of crude oil from the northern region. According to local media, the deal was to be debated last Thursday, along with several other topics, but since then no update regarding any decision on the deal has been issued, suggesting the Iraq i parliament has delayed the final decision on the deal for January when the new parliamentary session will begin.
He also said that to settle the matter, “a specialized international company would visit the KRG's oil fields to assess the cost of oil extraction, in line with the budget law amendment and a political agreement between the two sides.” Deliveries of Kurdish crude oil have been suspended for over a year amid a dispute between the central government in Baghdad and Turkey over who had the power to authorize these deliveries.
Iraq Kurdistan Regional Government (KRG) Oil Production Costs International Arbitration Turkey Iraq-Turkey Pipeline International Oil Companies Revenue Sharing Legal Dispute
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