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Barzani says Turkey’s Halkbank to process Iraqi Kurdistan oil export payments
9/8/2015
ERBIL-Hewler, Kurdistan region ‘Iraq’,— Oil revenue from exports through Turkey’s Ceyhan port will, from now on, be deposited at Halkbank, Iraqi Kurdistan Region Prime Minister Nechirvan Barzani announced Monday. Previously, the money from oil exports would be paid to the KRG directly, but now the money will first be deposited with Halkbank and then it may be accessed by the Kurdish Regional Government KRG, Barzani said. Under the Dec. 2, 2014 deal between the Iraqi central government and the KRG, Erbil agreed to export 300,000 barrels of oil per day from Kirkuk, and 250,000 barrels of oil per day from northern Iraq, under the supervision of Baghdad’s oil marketing company, SOMO. In return, Baghdad was to send the KRG a 17 percent share, of around $17 billion a year, from the federal budget. However, soon after the deal, disagreements emerged between the sides with Erbil claiming that Baghdad had not sent Erbil’s full share from the budget, while the central government argued the KRG had not delivered the promised amount of crude oil from Kirkuk. Moreover, Erbil has stopped selling oil under the supervision of Baghdad since July 1, and has sought other means to export its crude oil. Speaking on the problems with Iraqi central government, Barzani said that he was ready to travel to Baghdad to resolve any conflict.ERBIL-Hewler, Kurdistan region ‘Iraq’,— Oil revenue from exports through Turkey’s Ceyhan port will, from now on, be deposited at Halkbank, Iraqi Kurdistan Region Prime Minister Nechirvan Barzani announced Monday. Previously, the money from oil exports would be paid to the KRG directly, but now the money will first be deposited with Halkbank and then it may be accessed by the Kurdish Regional Government KRG, Barzani said. Under the Dec. 2, 2014 deal between the Iraqi central government and the KRG, Erbil agreed to export 300,000 barrels of oil per day from Kirkuk, and 250,000 barrels of oil per day from northern Iraq, under the supervision of Baghdad’s oil marketing company, SOMO. In return, Baghdad was to send the KRG a 17 percent share, of around $17 billion a year, from the federal budget. However, soon after the deal, disagreements emerged between the sides with Erbil claiming that Baghdad had not sent Erbil’s full share from the budget, while the central government argued the KRG had not delivered the promised amount of crude oil from Kirkuk. Moreover, Erbil has stopped selling oil under the supervision of Baghdad since July 1, and has sought other means to export its crude oil. Speaking on the problems with Iraqi central government, Barzani said that he was ready to travel to Baghdad to resolve any conflict.
“We have a good dialogue and relations with Baghdad,” Barzani assured.
Meanwhile a Kurdish official said on Sunday that Iraqi Kurdistan Region’s finance minister has not transferred money from Turkish Halk Bank to Erbil after finding the government’s accounts empty .
Head of Parliament’s Finance Committee Izat Sabir told NRT that Minister Rebaz Mohammed Abdullah was in Turkey last week to conduct the transfer of funds earned from independent oil sales and meet with officials, including Halk Bank Director-General Ali Fuat
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9/8/2015
ERBIL-Hewler, Kurdistan region ‘Iraq’,— Oil revenue from exports through Turkey’s Ceyhan port will, from now on, be deposited at Halkbank, Iraqi Kurdistan Region Prime Minister Nechirvan Barzani announced Monday. Previously, the money from oil exports would be paid to the KRG directly, but now the money will first be deposited with Halkbank and then it may be accessed by the Kurdish Regional Government KRG, Barzani said. Under the Dec. 2, 2014 deal between the Iraqi central government and the KRG, Erbil agreed to export 300,000 barrels of oil per day from Kirkuk, and 250,000 barrels of oil per day from northern Iraq, under the supervision of Baghdad’s oil marketing company, SOMO. In return, Baghdad was to send the KRG a 17 percent share, of around $17 billion a year, from the federal budget. However, soon after the deal, disagreements emerged between the sides with Erbil claiming that Baghdad had not sent Erbil’s full share from the budget, while the central government argued the KRG had not delivered the promised amount of crude oil from Kirkuk. Moreover, Erbil has stopped selling oil under the supervision of Baghdad since July 1, and has sought other means to export its crude oil. Speaking on the problems with Iraqi central government, Barzani said that he was ready to travel to Baghdad to resolve any conflict.ERBIL-Hewler, Kurdistan region ‘Iraq’,— Oil revenue from exports through Turkey’s Ceyhan port will, from now on, be deposited at Halkbank, Iraqi Kurdistan Region Prime Minister Nechirvan Barzani announced Monday. Previously, the money from oil exports would be paid to the KRG directly, but now the money will first be deposited with Halkbank and then it may be accessed by the Kurdish Regional Government KRG, Barzani said. Under the Dec. 2, 2014 deal between the Iraqi central government and the KRG, Erbil agreed to export 300,000 barrels of oil per day from Kirkuk, and 250,000 barrels of oil per day from northern Iraq, under the supervision of Baghdad’s oil marketing company, SOMO. In return, Baghdad was to send the KRG a 17 percent share, of around $17 billion a year, from the federal budget. However, soon after the deal, disagreements emerged between the sides with Erbil claiming that Baghdad had not sent Erbil’s full share from the budget, while the central government argued the KRG had not delivered the promised amount of crude oil from Kirkuk. Moreover, Erbil has stopped selling oil under the supervision of Baghdad since July 1, and has sought other means to export its crude oil. Speaking on the problems with Iraqi central government, Barzani said that he was ready to travel to Baghdad to resolve any conflict.
“We have a good dialogue and relations with Baghdad,” Barzani assured.
Meanwhile a Kurdish official said on Sunday that Iraqi Kurdistan Region’s finance minister has not transferred money from Turkish Halk Bank to Erbil after finding the government’s accounts empty .
Head of Parliament’s Finance Committee Izat Sabir told NRT that Minister Rebaz Mohammed Abdullah was in Turkey last week to conduct the transfer of funds earned from independent oil sales and meet with officials, including Halk Bank Director-General Ali Fuat
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