At a Glance

• KRG declared its readiness to hand over 50,000 crude oil barrels daily.
• The handover is conditional on Baghdad providing subsidized 450 IQD gasoline.
• An official said they also proposed providing crude oil. 

Ahmed Mufti, Deputy Minister of the Kurdistan Regional Government (KRG) Ministry of Natural Resources, stated that the ministry is “ready” to hand over the 50,000 barrels to Baghdad, following the KRG delegation's meeting with the Iraqi parliamentary committee.

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Key Statement and Focus Area

• Ahmed Mufti said the government wants to hand over the oil in exchange for the provision of 450 IQD gasoline.
• Mufti stressed that their objective is to ensure the equitable distribution of fuel across all of Iraq.

Speaking to Channel8 after the meeting of the KRG delegation with the parliamentary committee in Baghdad, Mufti said, “As a government, this is our decision,” adding that it must be discussed in the KRG Council of Ministers as well. 

He noted that they are waiting for the Iraqi parliament to succeed in bringing both ministries to an agreement. 

The Deputy Minister added that they have also proposed providing crude oil to the Kurdistan Region.

The Ministry of Natural Resources delegation, which included the Deputy Minister alongside senior financial, economic, and auditing officials, met today with the Iraqi parliamentary committee to resolve the Kurdistan Region's fuel crisis. 

The session focused on presenting the various supply and pricing proposals that were discussed after the Oil and Gas Committee of the Council of Representatives’ meeting with the Minister of Oil, the Director General of Oil Products Distribution Company, and the Director General of SOMO to discuss the Kurdistan Region's fuel issue.

The parliamentary committee is scheduled to draft a meeting minute outlining its demands and proposals to lower fuel prices in the Kurdistan Region.

Harem Kamal Agha, Head of the PUK Bloc in the Iraqi parliament, stated earlier that they will review the arguments from both sides before submitting the proposed solutions to the government. 

He emphasized that their efforts will continue until the fuel crisis is resolved, adding that the Minister of Oil has committed to taking responsibility for resolving the Kurdistan gasoline issues.

Meanwhile, Sipan Sherwani from the KDP Bloc told Channel8 that the committee will present its own proposals to resolve the crisis immediately after hosting the Natural Resources delegation.

FYI

To control skyrocketing fuel prices, the KRG initially mandated strict price caps ranging from 750 to 1,200 IQD per liter in late July. 

When private gas stations closed down due to a lack of profit margins, the government temporarily reversed course and allowed prices to float via a free-market system. 

Following public backlash, the KRG issued a major directive ordering all commercial "Normal" gasoline prices slashed back down to 750 IQD per liter. 

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