The Oil, Gas and Natural Resources Committee revealed the content of the agreement, which was signed under the supervision of Prime Minister Muhammad Shia Al-Sudani and Prime Minister of the Kurdistan Region, Masrour Barzani, according to which the resumption of oil exports from the fields of the Kurdistan region through the Turkish port of Ceyhan proceeded.

Committee member MP Ali Shaddad said, in a press statement today, Thursday, that “the signed agreement is a (temporary) agreement to bridge the deficit in the general budget law, and to avoid confusion that may occur with Iraq’s export share agreed upon with OPEC.”

He explained, “The Iraqi oil, which will be exported from the region, will be subject to the supervision of the central government, and the region’s authorities do not have the authority to control its financial imports alone.”

He added, “The recent international and judicial decisions forced the region’s authorities to negotiate with Baghdad,” noting that “these problems will be completely resolved after the adoption of the oil and gas law, which is mainly focused on the issue of oil wealth and defines the basic features of its management.”

Source: National Iraqi News Agency