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PM of Iraqi Kurdistan threatens withholding oil without budget share
20 Feb 2015
Following talks aimed at resolving the dispute, Kurdish Prime Minister, Nechirvan Barzani said that Iraq's semi-autonomous Kurdistan Regional Government may withhold crude oil exports if Baghdad does not send its share of the budget.
In a press interview, he stated, "If they don't send the budget, we won't send oil."
He said the KRG remained "fully committed" to the temporary oil export agreement reached in December, but that Baghdad had only offered to send $300 million, "less than half of what we agreed on earlier".
The KRG agreed in December to export 550,000 barrels per day of oil from its own fields and Kirkuk via Baghdad's state marketer SOMO. In return, Baghdad would reinstate budget payments to the Kurds, which it cut in 2014 as punishment for the region's moves to export oil independently.
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20 Feb 2015
Following talks aimed at resolving the dispute, Kurdish Prime Minister, Nechirvan Barzani said that Iraq's semi-autonomous Kurdistan Regional Government may withhold crude oil exports if Baghdad does not send its share of the budget.
In a press interview, he stated, "If they don't send the budget, we won't send oil."
He said the KRG remained "fully committed" to the temporary oil export agreement reached in December, but that Baghdad had only offered to send $300 million, "less than half of what we agreed on earlier".
The KRG agreed in December to export 550,000 barrels per day of oil from its own fields and Kirkuk via Baghdad's state marketer SOMO. In return, Baghdad would reinstate budget payments to the Kurds, which it cut in 2014 as punishment for the region's moves to export oil independently.
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