Abadi’s economic advisor asks Kurdistan to clarify its oil revenues

The economic advisor for the Prime Minister, Haider Al Abadi confirmed that, oil relation between Baghdad and Erbil needs understanding to include the revenues of Iraqi oil exported by Kurdistan Government in the federal budget and to secure salaries and social care to retired employees.

He said in a press statement that, Kurdistan Region is obliged to submit an account statement that includes its fields’ oil production, volume of exports, and financial incomes in preparation for adding them to oil revenues from the fields of central and southern Iraq to calculate the federal budget amounts of the Iraqi state, instead of only relying on center and the south provinces’ oil budget.

He added that, salaries of employees and retired people and dues covered by social protection network salaries are priorities and they are well covered despite the current security and economic circumstances.

Norwegian Oil Company “D&O” announced receiving 41.40 million dollars from Kurdistan government for exporting oil from Tawki fields last February. The company said in a statement that, the received money was its share agreed upon with Jinil Energy Company and 34.73 million dollars are its monthly dues for exporting crude oil and the remained 6.68 million dollars are previous debts.

Source: Ahram online