Baghdad-Erbil oil deal strained by disappointing April payment
Despite boosting its federal export contributions in April, Kurdistan received a smaller budget payment, prompting outcry and urgent talks among top leaders.
A tanker loads crude at the Turkish port of Ceyhan, May 2015. (STAFF/Iraq Oil Report)
ERBIL - Iraqi Oil Minister Adil Abd al-Mahdi travelled to Erbil Wednesday in an apparent attempt to salvage a cooperative oil export and revenue sharing agreement, after the Kurdistan Regional Government (KRG) raised objections to a smaller-than-expected April budget payment.
KRG Prime Minister Nechirvan Barzani expressed strong dissatisfaction after Baghdad's monthly budget transfer fell to just 488.7 billion Iraqi dinars ($407.25 million*) for April – a month when Kurdistan's contribution to federal exports increased steeply. He chaired a joint meeting Wednesday with the KRG Cabinet and senior lawmakers representing the KRG in the federal Parliament to outline the KRG's position.
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