Baghdad, Erbil to agree on oil and gas law
A worker checking pipelines at Bai Hassan oilfield, west of Kirkuk. Photo: AFP
Baghdad (IraqiNews.com) – The Oil, Gas and Natural Resources Committee in the Iraqi Parliament revealed that federal oil and gas law will be agreed upon soon, the Iraqi News Agency (INA) reported.
Committee member, Zainab Al-Moussawi, explained that there is an agreement between Baghdad and Erbil to enact the federal oil and gas law soon.
Al-Moussawi indicated that discussions are underway concerning a draft law to resolve the disagreements between the central government and the regional government.
The Iraqi MP mentioned that the law will oblige Kurdistan to deliver its oil revenues of approximately 500 thousand barrels per day to the public treasury.
Baghdad, Erbil and Ankara are working to reach new understandings to regulate oil exports from Iraqi Kurdistan to the Turkish port of Ceyhan, based on the final ruling issued in favor of Iraq in Paris.
Kurdistan Regional Government (KRG) accepted the ruling issued by International Court of Arbitration of the International Chamber of Commerce to stop exporting oil under the supervision of the regional government to Turkey through Ceyhan.
Accordingly, the Kurdistan Region of Iraq began discussions with the central government in Baghdad and Turkey to organize the export process in the future.
Turkey stopped pumping Iraqi crude through the pipeline leading to Ceyhan after the ruling, according to Reuters.
A lawsuit was filed by Iraq against Turkey for violating the provisions of the Iraqi-Turkish pipeline agreement signed in 1973.
The Iraqi-Turkish pipeline agreement stipulates that the Turkish government must abide by the instructions of the Iraqi side regarding the movement of crude oil exported from Iraq.