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Iraqi Kurdistan close to economic self-sufficiency
Minister of Natural Resources, said the government of Iraq's Kurdistan region drastically that region, who enjoys by virtue of Mata- will see a steady increase in oil exports in the coming months closer to economic self-sufficiency.
Hawrami told a press conference held in London on Wednesday that the Government of the Territory the right to export its oil problem independently unresolved with Baghdad, but he "hopes for the first time" in the possibility of resolving the longstanding dispute.
Kurdistan reached earlier in the month for a limited agreement with Baghdad over oil exports after months of controversy. The Iraqi government has decided to deny the Kurdistan region of budget allocations in response to the province's decision to export oil independently.
The minister said that despite the new agreement, the Government of the region, did not reach agreement on other issues including the right to export oil independently and revenue-sharing mechanism.
He Hawrami said, "The Kurdistan Regional Government will do its part fully in helping Iraq in fulfilling the objectives of energy exports. But we set ourselves clear targets for self-sufficiency, so it will not face a second economic threats of violence and a ban on our never."
He explained that the region's exports will rise to 500 thousand barrels per day at the end of the first quarter of 2015 compared to current levels of $ 400 thousand.
Hawrami said Kurdistan, Iraq will become a net contributor to the budget of Iraq by the end of next year.
For his part, Prime Minister of Iraqi Kurdistan Barzani said that the new agreement on oil with the Baghdad government will not affect the KRG relations with Turkey or the growing partnership with Iran.
He said in a statement read to the participants in the conference, "We will continue to strengthen our relationship with Iran's eastern neighbor."
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