Iraq Kurds ready to deliver 250,000 bpd of oil to federal government

The semi-autonomous region of Kurdistan in Iraq announced on Wednesday that it will deliver 250,000 barrels of oil per day to the federal government in Baghdad as well as hand over all financial revenues to the state treasury.

A spokesman for Kurdistan’s Regional Government, Jutiar Adel, told reporters that the oil and cash will be delivered to the federal government according to the agreement concluded with Baghdad in 2019.

“Within the framework of the agreement concluded in 2019, we are willing to deliver 250,000 barrels of oil per day to the federal government. We are also committed to transferring the financial revenues generated from oil sales to the Iraqi state treasury,” Adel said after a meeting between the Kurdistan Regional Government and a federal government delegation.

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“We have a large deficit in imports, and the regional government will distribute salaries to state employees whenever the funds are available,” he said.

The monthly salaries of Kurdistan public sector employees is estimated at 894 billion Iraqi dinars (about $750 million), of which Baghdad pays 453 billion dinars (about $380 million).

In April, Baghdad stopped paying the salaries of state employees in the Kurdistan region after Erbil refused to transfer revenues gained from oil exports.