Payments to KRG IOCs still budget sticking point
With the 2013 budget hanging in the balance, central government and KRG negotiators are trying and failing to agree on how – and how much – to pay oil producers in Kurdistan.
Lamps illuminate pipelines running across the Tawke oil field in Kurdistan, which is being developed by Norway's DNO. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)
BAGHDAD - After months of political wrangling, passage of Iraq's $118 billion budget still hangs on the semi-autonomous Kurdistan region's insistence that the government allocate $3.5 billion to pay oil companies working the Kurdish oil patch.
According to politicians involved in the negotiations, MPs aligned with Prime Minister Nouri Al-Maliki are no longer threatening to reduce the Kurdistan Regional Government's (KRG) share of the federal budget from 17 percent to 12 percent.
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