Solution to Iraq’s conflict over oil with Kurds possible, says Oil Minister Luaibi

(IraqiNews.com) Baghdad – A source in the Iraqi Government informed on Monday that Iraq’s new Oil Minister Jabar Ali al-Luaibi said that a solution to the Iraqi government’s conflict over oil with the Kurdish region was possible.

“There are solutions to the existing problems between the federal government and the Kurdistan Regional Government about the oil file,” the source informed quoting Luaibi.

It is worth mentioning here that Iraq’s new Oil Minister Luaibi was a former head of South Oil Company and his observation came after he was inducted to the overhauled cabinet of Prime Minister Haider al-Abadi.

It may be mentioned here that the conflict centers on the Kurdish region’s crude oil exports, which Baghdad wants to bring under its control.

OPEC is the second-largest producer after Saudi Arabia and Iraq produces about 4.6 million barrels of crude oil per day and most of it is acquired from the southern region. Around 500,000 barrels oil is exported per day from the Kurdish region independently from Baghdad.