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Parliamentary Finance Committee: OPEC informed SOMO that 280,000 barrels smuggled from the region are counted against Iraq’s share.
The head of the Parliamentary Finance Committee, MP Atwan al-Atwani, confirmed on Friday that OPEC informed the State Oil Marketing Organization (SOMO) that approximately 280,000 barrels of oil smuggled daily from the Kurdistan Region are counted as part of Iraq’s quota.
Al-Atwani said in a televised interview followed by ( IQ ): “The region is smuggling oil and exporting about 280,000 barrels per day in an undeclared manner. A message arrived from OPEC to SOMO stating: ‘We are receiving oil from your side. It is true that it is not in your name, but it is your oil.’ It is estimated at about 280,000 barrels per day.”
The MP pointed out that “our share has been reduced. We are now exporting about 3.2 million barrels per day, but this smuggled oil from the region is counted within the amount allocated to Iraq, and therefore is considered part of the revenue reduction link
Iraqi Cabinet Approves Measures on Kurdish Oil Delivery
The Iraqi Cabinet, headed by Prime Minister Mohammed Shia Al-Sudani, held an emergency session on Thursday and issued a series of binding decisions regarding oil production and financial coordination with the Kurdistan Regional Government (KRG).
In a major development, the Cabinet approved the immediate transfer of all oil produced in the Kurdistan Region to Iraq’s State Oil Marketing Organization (SOMO) for export. The federal government will provide the KRG with an advance of $16 per barrel (in-kind or in cash), based on a minimum delivery of 230,000 barrels per day (bpd), with any additional production to be included under the same mechanism.
Current production stands at 280,000 bpd, of which 50,000 bpd is reserved for local consumption within the Region. The remaining 230,000 bpd, along with any future increases, will be delivered to SOMO. Should exports stop for any reason, the KRG must deliver the full quantity to the Federal Ministry of Oil instead.
The KRG will also be responsible for the production and transport costs of the 50,000 bpd used locally, while revenues from sales of refined products will be transferred to the federal treasury after deducting those costs.
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Additional financial decisions included:
The KRG must deliver 120 billion Iraqi dinars as a preliminary estimate of May’s non-oil revenue share.
A joint auditing team will verify and classify non-oil revenues from May 2025 onward.
A new joint committee will oversee the localisation of salaries in the Region within three months, as required by a federal court ruling.
A separate team will assess any excess in actual spending relative to the KRG’s budget share for 2023-2025.
May salaries for KRG employees will be disbursed after SOMO confirms receipt of the 230,000 bpd via the Ceyhan terminal.
All timelines specified in this resolution are effective from the date of the Cabinet’s approval. link
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Al-Lami: The federal government’s decision regarding the region’s oil is a victory for the constitution and a step toward justice and transparency.
MP Ali Saadoun Al-Lami praised the recent Cabinet decision regarding Kurdistan Region salaries, stressing that the decision represents a “historic step toward establishing the principle of fairness in the distribution of national wealth.”
Al-Lami explained in an interview with “Jarida Platform” that “the decision stipulates that the region hand over its entire oil production to the federal state oil company (SOMO), specifying precise quantities for receipt and export, and canceling any i-----l exceptions previously granted, in addition to obligating the region to pay its share of non-oil revenues.”
He pointed out that “the decision also includes the formation of federal committees specialized in monitoring, auditing, and localizing spending and salaries, and linking the disbursement of salaries to the regional government’s full commitment to delivering oil.”
Al-Lami added, “We in the House of Representatives consider this step a victory for the constitution, and we affirm our full support for the government in implementing the decision in all its details without any compromise, in order to preserve the rights of the people of the south and center, who have long suffered from the lack of justice in the distribution of wealth.”
He concluded his statement by stressing that Parliament will have an effective oversight role to accurately monitor the implementation stages, ensuring the rights of all Iraqis without exception are protected. link
Source: Dinar Recaps
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