Iraq's oil Minister: We're going to implement the federal court's decision.

08:15 - 07/05/2022
Economy

Iraq's oil minister says there cannot be two oil policies in one country and politicize energy, and says: "We are going to implement the federal court's decision."

 

In a meeting with a number of ministry officials, Iraqi Oil Minister Ihsan Abdul-Jabbar said: "We don't want to monopolise the oil issue, but we want to put it in the service of the people, so the oil and energy situation cannot continue like this."

 

"We are moving towards implementing the federal court's decision, because we cannot remain in that distrust situation and not implement the decision," the oil minister said, speaking on the federal court's decision on the region's oil.

 

The oil minister also says: "We know that in the event of the implementation of the federal court's decision, we will face national and internal consequences, but we will implement the decision as it is."

 

"We have taken many initiatives and shown a lot of smoothness, but there weren't any results," he said. "The issue of oil is a public issue and it is related to people's lives, so it cannot be politically addressed."

 

Meanwhile, on April 15, 2022, the Iraqi Federal Court ruled that the Kurdistan Regional Government's oil and gas law was not constitutional and violated the federal constitution.

 

According to the federal court's decision, the Kurdistan Regional Government will be granted all oil revenues to the central government.

 

The federal court's decision also states that the Kurdistan Regional Government has been obliged to agree that the Ministry of Oil and the Iraqi Financial Supervisory Board should monitor all contracts for the sale of oil and gas.

 

Since 2014, the Kurdistan Regional Government has independently started selling oil after relations between Erbil and Baghdad were broken.

 

The Kurdistan Region, mainly, relies on oil sales revenues, and according to data, the Kurdistan Region is currently exporting 450,000 barrels of oil a day.

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