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Economic: Amending Article 12 affects Basra’s share of petrodollars
December 25 19:34
Information/private..
Economic expert Abdul Rahman Al-Mashhadani confirmed today, Wednesday, that
amending Article 12 of the Budget Law related to the costs of producing and exporting the Kurdistan region’s oil affects Basra Governorate’s share of the petrodollar.
Al-Mashhadani said in an interview with the “Al-Ma’louma” Agency,
“Each oil well in Iraq has different production and transportation costs, and the
evidence is in the licensing rounds, where the companies’ profits ranged from one to two dollars per barrel extracted from the southern fields, while the Angolan company profited from the fields.” Qayyarah in Nineveh is $6 for extracting one barrel,” indicating that
“estimating the cost of producing oil in the Kurdistan region within the amendment to Article 12 of the Budget Law is subject to By handing over the fields to SOMO Company for calculation estimation.” He added,
"There is an objection from the representatives of Basra to this matter, considering that there will be discrimination in the governorate's rights because the share of petrodollars for each barrel will be at its expense," indicating that
"it is normal for discussions about this matter to take time, and the delay in approving the general budget for the year 2025 will not affect... Project implementation.
It is noteworthy that Parliament has been witnessing an ongoing debate for months about amending Article 12 of the General Budget Law, which relates to the costs of oil production in the fields of the Kurdistan region, while
Erbil seeks to limit the amendment in a way that does not lose control over the oil file in the region.
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December 25 19:34
Information/private..
Economic expert Abdul Rahman Al-Mashhadani confirmed today, Wednesday, that
amending Article 12 of the Budget Law related to the costs of producing and exporting the Kurdistan region’s oil affects Basra Governorate’s share of the petrodollar.
Al-Mashhadani said in an interview with the “Al-Ma’louma” Agency,
“Each oil well in Iraq has different production and transportation costs, and the
evidence is in the licensing rounds, where the companies’ profits ranged from one to two dollars per barrel extracted from the southern fields, while the Angolan company profited from the fields.” Qayyarah in Nineveh is $6 for extracting one barrel,” indicating that
“estimating the cost of producing oil in the Kurdistan region within the amendment to Article 12 of the Budget Law is subject to By handing over the fields to SOMO Company for calculation estimation.” He added,
"There is an objection from the representatives of Basra to this matter, considering that there will be discrimination in the governorate's rights because the share of petrodollars for each barrel will be at its expense," indicating that
"it is normal for discussions about this matter to take time, and the delay in approving the general budget for the year 2025 will not affect... Project implementation.
It is noteworthy that Parliament has been witnessing an ongoing debate for months about amending Article 12 of the General Budget Law, which relates to the costs of oil production in the fields of the Kurdistan region, while
Erbil seeks to limit the amendment in a way that does not lose control over the oil file in the region.
Ended 25 B
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