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KRG: Oil output cuts hinge on federal payments

OilKurd

Iraq's semi-autonomous Kurdish region will trim its output in line with OPEC+ cuts provided the federal government pays its dues to Erbil, a Kurdistan Regional Government spokesperson said Oct. 22 after Iraq's oil minister said the region had failed to comply with output curbs.

 

"The KRG has committed to reducing its crude oil production in line with the decisions of the OPEC plus meetings, at rates consistent with the quantities of oil produced from its fields," Jotiar Adil said in a statement.

 

"KRG has no objection to the continuation of production reduction in accordance with the fair rate that has been agreed, provided that the federal government is fully committed to covering the dues and expenses KRG loses as a result of reduced production levels."

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