Iraq News - Local News - Baghdadpost

KRG Agrees to Transfer 250,000 Barrels of Oil Per Day Through SOMO: PUK Caucus Chief

Head of the Patriotic Union of Kurdistan (PUK) caucus in the Council of Representatives Ala Talabani said on Monday that the Kurdistan Regional Government (KRG) has agreed to transfer 250,000 barrels of oil per day to Iraq's oil marketer SOMO in exchange for financial benefits from the federal budget.

Talabani said that what has been written in the draft 2021 Federal Budget Law constitutes an agreement between the federal government and the KRG.

“The Kurdistan Region will sell 250,000 barrels of oil per day through SOMO, not in a way where the Region sells its oil [independently] and gives the revenue to Baghdad,” she said.

The PUK lawmaker added that the Kurdistan Region had not complied with previous agreements with Baghdad and said that the two governments do not trust each other as a result.

Talabani was recently named as the new head of the PUK caucus in the Council of Representatives, where the federal budget is currently undergoing review before a vote in the coming weeks.