RE: 200p soon6 Nov 2024 15:42
Oil Exports and the Article 12 Amendment
In the final agenda item, the Council discussed the federal government’s proposal to amend Article 12 to facilitate the resumption of oil exports. Minister of Electricity Kamal Mohammad Salih presented updates on recent negotiations with Iraq’s Oil Ministry and international oil companies. The Council reiterated the KRG’s position that oil exports via the State Organization for Marketing of Oil (SOMO) should resume promptly, benefiting both the federal government and the Kurdistan Region. The resumption is expected to boost national revenue and attract greater investment in the region’s oil sector.
The Council’s meeting underscored the KRG’s ongoing efforts to address economic, social, and administrative challenges, with a clear focus on enhancing services and fostering cooperation with Baghdad for the Kurdistan Region’s benefit.