18.07.2025 21:58
The Iraqi Cabinet announced that all oil produced in the Iraqi Kurdistan Regional Government will be delivered to the Iraqi state oil company SOMO, and an advance payment of 16 dollars will be made for each barrel. Additionally, it was stated that at least 230,000 barrels of oil must be delivered daily from the region.
The Iraqi Cabinet has decided that all oil produced in the Iraqi Kurdistan Regional Government (IKBY) will be delivered to Iraq's state oil company SOMO, and an advance payment of 16 dollars will be made for each barrel delivered.
ALL OIL TO BE PRODUCED IN NORTHERN IRAQ WILL BE DELIVERED TO THE CENTRAL GOVERNMENT
A written statement from the Iraqi Prime Minister's Press Office included the decisions made by the Cabinet, which convened yesterday. It was stated that the IKBY government has decided to deliver all revenues from the oil produced in the region to Iraq's state oil company, SOMO, and to pay an advance of 16 dollars for each barrel delivered.
"AT LEAST 230,000 BARRELS MUST BE DELIVERED DAILY"
The statement expressed that at least 230,000 barrels of oil produced in the IKBY must be delivered to Baghdad daily, and if production increases, the additional amount will also be transferred to SOMO. According to the decisions made, it was also stated that if oil exports are halted, all oil will be given to the Iraqi Ministry of Oil.
50,000 BARRELS WILL BE ALLOCATED FOR IKBY CONSUMPTION
The statement emphasized that 50,000 barrels of the produced oil will be allocated for local consumption in the IKBY, and that the production and transportation costs of this amount will also be covered by the IKBY government.
The statement included the following expressions: "The revenues from product sales will be transferred to Iraq's general budget after costs are deducted. If needed by the IKBY, the Iraqi Ministry of Oil will be able to provide a maximum of 15,000 barrels of oil products to the region daily. This need will be evaluated by a committee consisting of central and regional oil authorities."
According to the decision made, it was stated that an estimated payment of 120 billion dinars will be made to the IKBY government for the month of May. It was also noted that in accordance with the decision of the Iraqi Federal Court, the localization of IKBY civil servant salaries (transfer to banks) will be completed within three months, and that the payments to be sent by Baghdad to the region will only be valid for the localized salaries.