PM:01:15:17/07/2025
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The Iraqi Council of Ministers is scheduled to sign a preliminary agreement with the Kurdistan Regional Government (KRG) on Thursday, July 17, 2025, regarding the Region’s oil exports and domestic revenues, according to NRT sources.
Under the agreement, the KRG will deliver 230,000 barrels of oil per day to SOMO at a cost of $16 per barrel, and 52,000 barrels will be allocated for domestic consumption. Additionally, the Region will hand over 120 billion dinars in domestic revenues to Baghdad.
The agreement covers the months of May and June and will later be reviewed by a joint committee, which will assess both the oil exports and the Region’s internal revenues. The deal is seen as a temporary solution pending a more comprehensive settlement between the two sides.