As the Iraqi Council of State meeting concluded regarding the Kurdistan Region’s oil revenues today, a source in the Council told Channel8 that there was no bias in the draft recommendations prepared, neither leaning toward the Kurdistan Regional Government (KRG) nor the Iraqi side.

The source said that the council has drafted written recommendations, containing more than 12 points, for the Iraqi Council of Ministers, focusing on financial outcomes and revenue management.

Fairness noted by members

Channel8 learned that many council members considered the KRG’s arguments and the legal framework it cited to be fair and correct.

Talks and agreement details

In recent days, talks between Erbil and Baghdad have progressed, with the KRG Prime Minister, the Iraqi Oil Ministry, and SOMO indicating that they are close to an agreement. The issue of non-oil revenues and oil exports is nearing resolution.

Meanwhile, In Tuesday’s meeting of the Council of Ministers, a decision on the salaries of the Kurdistan Region’s public sector is expected.

Earlier, Channel8 revealed details of the expected tripartite agreement between the KRG, the Iraqi government, and oil companies, which is anticipated to be signed soon.

Under the terms of the agreement, 50,000 barrels per day will be allocated for domestic consumption within the Kurdistan Region, while the remaining volume will be handed over to SOMO for export.

Speaking to Channel8, a source in the Iraqi Oil Ministry noted that the Iraqi government will be responsible for paying the financial entitlements of oil companies, estimated at $16 per barrel, as outlined in the budget law. Meanwhile, SOMO has completed all necessary preparations to resume exports.