Kurdistan Region oil export agreement finalized with Iraqi Oil Marketing Company SOMO

Shihristani, Kurdistan Region PM reach agreement over exporting Kurdistan oil via SOMO

Baghdad ( The Deputy Premier, Hussien al-Shihristani, agreed with the Prime Minister of Kurdistani Regional Government, Nechirvan Barzani, upon exporting oil of Kurdistan Region through the Oil Marketing Company (SOMO).

A statement by Shihristani’s office received by “Shihristani received the Kurdish delegation in Baghdad on last Wednesday,” noting that “Abdul Kareem Laeebi, and the Acting Minister of Finance, Safa al-Din al-Safi, attended the meeting.”

“Both sides discussed the pending issues concerning oil and the possible means to solve them according to the constitution to protect Iraq’s resources,” the statement added.

“Both sides agreed upon exporting Kurdistan Region oil through SOMO according to the adopted mechanism of exporting and pricing Iraqi oil,” the statement continued.

“The revenues will be submitted to the Development Fund of Iraq to be distributed later via financial budget,” the statement concluded.

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