Page 12 - MEOG Week 23 2022

MEOG NEWS IN BRIEF MEOG

POLICY budgetary allocations unless its exports are OIL
handled by state marketer Somo, he told the
Iran-Russia Trade to hit state’s news agency Ina. Kuwait’s drilling,
“The ministry of finance will have to take
$40bn into consideration the court’s ruling and not earthquakes not linked
deliver Kurdistan its budgetary allocations,”
Iranian Minister of Petroleum Javad Owji said Allawi said. “Financial allocation for the MP Hesham Al-Saleh has submitted a bill on
the level of trade between Iran and Russia is region cannot be included in this year’s budget specifying the areas for the headquarters of
planned to hit $40 billion within the next 4 unless Kurdish oil export are managed by embassies or consulates of various countries,
years. Somo.” taking into consideration that such buildings
Addressing a ceremony held at the The KRG’s share of the federal budget are banned in residential areas as per the
Russian embassy in Tehran on Tuesday on amounts to 12.67pc, but ever since it began regulations of Kuwait Municipality.
the occasion of the Russian national day, independently exporting its crude through In his proposal, Al-Saleh explained that
Mr. Owji said: “I take the opportunity to Turkey’s Ceyhan port in 2013, bypassing the Municipality shall coordinate with the
congratulate the people of Russia on the Iraq’s central government consent, Baghdad Ministry of Foreign Affairs in specifying
Russian National Day and I would like to has partially held back on delivering the the areas for the embassies or consulates to
thank the Ambassador of Russia, Mr. Jagarian, allocations. establish their headquarters. If such structures
for inviting me to attend the Russian National The judicial council of Iraqi Kurdistan are currently located in residential areas, they
Day. I am glad to be present at this ceremony, has rejected the federal court’s ruling, while will be relocated once the bill takes effect, he
which is a symbol of Russia’s rich culture declaring that the region’s 2007 oil and added.
and identity. Iran and Russia are two great gas law “remains in effect.” The Kurdistan MP Abdullah Al-Turaiji has proposed
neighbors in the region that share common region’s 2007 oil and gas law enabled Kurdish the establishment of citizen service centers
interests in the fields of politics, security, authorities to administer and develop in the headquarters of the Public Authority
economy and culture.” their own crude and natural gas resources. for Sports and Kuwait Olympic Committee
“Especially in the current administration, The council said that “[the court] has no to provide services to the sports clubs. He
bilateral and multilateral relations in order to authority” to repeal it. added the working hours of these centers will
ensure common interests and contribute to Kurdish leaders have stood firm in be specified through the coordinated efforts
regional and international stability, peace and rejecting the ruling, describing it as of the Public Authority for Sports, Kuwait
security have a growing trend that I hope will “unconstitutional and politically motivated”. Olympic Committee and Ministry of Interior.
continue and deepen.” Last month Iraq’s federal oil ministry Meanwhile, Chairman of the parliamentary
SHANA proposed setting up a new oil company in the Budgets and Final Accounts MP Adnan
Kurdistan region. It raised the stakes at the Abdulsamad disclosed that they discussed
Iraq’s finance minister beginning of May by saying it will implement the estimated budget of Kuwait National
Petroleum Corporation (KNPC) for fiscal
the supreme court ruling because attempts to
deems KRG oil exports engage with Kurdistan authorities have “come 2022/2023 with the representatives of KNPC
to nothing”.
and senior oil sector officials. He said the
‘illegal’ companies operating in the Kurdistan region, estimated revenues of KNPC reached KD 24
It has also reached out to international oil
billion – 50 percent higher than the previous
Iraq’s finance minister Ali Allawi said that offering them the opportunity to enter into fiscal year as a result of raising oil production
crude exports from the semi-autonomous restructured contracts that will bring them and oil price hikes; while the expenditures
northern region of Kurdistan became into compliance with Iraqi law and allow them are estimated at KD 23.1 billion – also 50
“illegal” after a supreme federal court to continue operations. percent higher than the previous fiscal year
ruling in February. The Kurdistan Regional ARGUS due to the increase in the price of a barrel of
Government (KRG) will not receive its oil that KNPC buys from the State and the

P12 www. NEWSBASE .com Week 23 08•June•2022