KRG begins implementing budget law with crude transfers to Baghdad
Sign of cooperation bolsters KRG argument for starting federal budget transfers.
Iraqi Prime Minister Mohammed Shia al-Sudani (right) and KRG Prime Minister Masrour Barzani (left) speak at a ceremony for the signing of a framework deal to restart Iraq's northern exports in Baghdad on April 4, 2023. (Photo credit: Prime Minister's Office)
SULAIMANIYA - Erbil and Baghdad are taking initial steps towards implementing an aspect of the 2023 budget law, in a sign of cooperation that could potentially lead to more stable financial flows for the Kurdistan Regional Government (KRG) and its oil contractors.
For the past month, the KRG has been handing over between 50,000 to 90,000 barrels per day (bpd) of crude to the federal Oil Ministry, which is paying a private refinery in Erbil to produce fuel, according to multiple industry officials, KRG officials, and MPs briefed on Baghdad-Erbil negotiations.
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