In the KRG, 70% of the budget goes to pay wages and salaries of civil servants. Genel Energy Report on Payments to Govts for 2019, GKP Shares Fall as Coronavirus Delays Plans, List of International Oil Companies in Iraq, List of International Oil Companies in Iraqi Kurdistan, Atrush Field performing "Exceptionally Well", Market Review: "Still the Dog Days of Summer", Five One Labs Launches Iraqi Investment Initiative. The Kurdistan Regional Government (KRG) has delayed payments to oil producers by several weeks. Petroleum spurs a boom for the region: Iraqi-Kurdistan’s gross GDP grew significantly since the 2007 oil liberalization, jumping from from $800 a decade ago to $5,600 in 2012. Hence, control of oil revenues has become a thorny issue between Erbil and Baghdad, and the KRG has not been getting the full 12.67% of the federal budget it is entitled to on the books.
KRG Oil's purpose is to treat all of our customers with professionalism and respect, no matter how big or small the company. 5, and started the negotiation straight ahead. In statements to the markets on on Thursday, Genel Energy , Gulf Keystone Petroleum (GKP) and Shamaran Petroleum said that payments relating to invoices for oil production in August and September, which were due to be paid in November and December, will be received in January 2020. KRG Oil Company services a variety of customers. All Rights Reserved. Here's what you can now access. Some view oil as fueling the United States’ recent support of the Kurdish Peshmerga forces in their fighting off Islamic State (ISIS) campaigns on the city, though the US has also flown aid to help trapped Yazidis and others in the ISIS-besieged Mount Sinjar region. (source), Much of Kurdistan’s oil enterprise anchors itself at Erbil, the stable strong-hold of the KRG in Northern Iraq. Here's what you can now access. KRG spokesperson Jotyar Adil told Al-Monitor, “No solution outside the constitution would be fair or end the disputes.
حكوومهتی ئێستا، نوێنهرایەتی سهردهمێكی نوێی ههرێمی كوردستان دهكات، ئهوهش واتا پهیوهندییهكی نوێ لهگهڵ هاوبهشهكانمان له كۆماری عێراقی فیدرال A new pipeline began running in early 2014, which exists in fully recognized KRG territory. Two days later, Iraqi Prime Minister Adel Abdul Mahdi said he would step down in response to wide public protests. The factor behind Abdul Mahdi’s decision is political and economic; Abdul Mahdi wants to remain in his post,” Haji Rashid added.
The bill is expected to reach the Iraqi parliament Dec. 15 and experience fierce debate. Abdul Mahdi’s soft stance with the KRG has engendered public rage against him and his Cabinet, which took office in October 2018.
Ghalib Mohammed, a lawmaker from the Kurdish Change Movement, told Al-Monitor, “Governmental delegations should not include company heads."
Mohammed said the Qaiwan Group, which is close to the PUK, also is being investigation by the Commission of Integrity.
Our mission is to provide excellent customer service that exceeds above and beyond our competitors. “The KRG is committed to continuing dialogue with Baghdad to defend the Kurdistan Region’s constitutional rights. This degree of chaos is a perfect arena for Russia to exploit, which is precisely what it is busy doing. Plus get access to seven years of our archives. The KRG has signed exploration agreements with several other oil companies, including Canada's Western Oil Sands and the UK's Sterling Energy and Gulf Keystone Petroleum.
Al-Monitor - Intelligence on the trends shaping the Middle East. We’re against politicizing people’s livelihoods and they should not be put into any political calculation.”, Adil said the drop in oil prices and the coronavirus crisis have caused the KRG’s income to “decrease by 75% if not more.”. Following extensive negotiations, the Kurdistan Regional Government (KRG) announced Nov. 27 that a final oil-for-budget deal with the Iraqi federal government had been reached in which the KRG agreed to submit 250,000 barrels per day of crude oil to Iraqi State Oil Marketing Company in return for receiving a fair share of the country’s budget for 2020. (Sources: Genel Energy, Gulf Keystone Petroleum (GKP), Shamaran Petroleum). Hadithi said Nov. 30 that the issue of the prime minister's resignation should have "no effects on the subject of completing the special measures for signing the agreement between the federal government and the KRG on oil and salaries of KRG employees within the draft 2020 budget law.” He told Al-Monitor, “The government continues with its duties and wants to finally sign this agreement. Iraq Oil Report strives to provide thoroughly vetted reporting and fair-minded analysis that enables readers to understand the dynamic events of Iraq. PM meets Trump: What Outcome for Iraqi Economy? ERBIL (Kurdistan 24) – The Kurdistan Regional Government (KRG) on Friday “strongly” condemned what it said was a “terrorist attack” targeting a pipeline exporting the autonomous region’s crude oil. The Kurdistan Regional Government (KRG) has delayed payments to oil producers by several weeks. KRG Team (source). You’re now subscribed to Al-Monitor. Multiple KRG security officials said there was an explosion followed by … If the KRG autonomous region were a nation-state, it would rank 10th in the world for largest petrol reserves, coming in just after Libya. © 2020 Al-Monitor, LLC.
The Kurdistan Region of Iraq has vast proven oil and gas resources; however, mismanagement, corruption and ruling parties’ monopoly on power have brought the region to the brink of financial collapse amid longstanding controversies with the Iraqi government over the region's share of federal budget.
“We are ready not only to hand over 250,000 barrels of oil per day to Baghdad, but also to hand over the entire KRG oil product. “Our delegation met with the Iraqi government’s delegation April 30, in which several suggestions have been discussed on the issues of oil and budget,” Talabani spokesperson Samir Hawrami told Al-Monitor via WhatsApp messaging from Baghdad. We only publish information from anonymous sources that we independently corroborate and are important to core elements of the story. KRG Ministry of Natural Resources issues statement on oil production Erbil, Kurdistan Region, Iraq (GOV.KRD) - The Kurdistan Regional Government (KRG) strongly denies the recent allegations of oil smuggling made by the federal finance minister. We view our independence as an integral piece of our competitive advantage. The KRG’s oil minister and prime minister need to be straight with their own people since they cannot pay their wages and salaries for civil servants in the KRG area. These payments are four months in arrears, as the local observers have confirmed to me. The KRG has not respected its promise to submit 250,000 barrels of oil per day to the Iraqi State Oil Marketing Company as per the 2019 budget law, even though Baghdad continues delivering funds to KRG employees. With extraction beginning in 2007, Erbil hosts Chevron, Exxon Mobile, Hess, Total and many other major petroleum players. Ahmed Haji Rashid said, “Iraq’s economic conditions are very bad; the country can only pay its civil servants when it sells oil at $31 — that is, for the price of Brent oil to rise to $38.”. The KRG Cabinet met May 2 and Talabani briefed the council on the outcomes of their discussions with Baghdad. The financial crises, coupled with a monthlong lockdown due to the coronavirus, have caused unemployment to skyrocket; KRG health personnel also went on strike, even though new COVID-19 cases are being recorded, because they had not been paid. Kurdistan oil and other natural resources make the land valuable to other actors and countries, and make it difficult for Kurds to establish power and economic independence.