KRG negotiation team to return to Erbil without a deal
A Kurdistan Regional Government (KRG) negotiating delegation will return empty-handed from Baghdad, having failed to secure a budget deal with the federal government, a source from the delegation said on Wednesday, February 3.

The source, who spoke on the condition of anonymity, told NRT that the delegation is expected to return once again to Baghdad for crunch-time talks at the beginning of next week when the Council Representatives is expected to vote on the draft 2021 Federal Budget Law.

The source said that the reason for continued disagreement stems from a demand made by Shia parties that the Kurdistan Region submit all of the oil that it pumps, instead of just a portion, which the KRG has rejected.

According to the report, Minister of Oil Ihsan Abdul Jabbar is planned to meet with the Council of Representatives’ Finance Committee about the issue on Wednesday.

Currently in the draft legislation, the KRG is required to transfer 250,000 barrels of oil per day to Iraqi oil marketer SOMO, along with a portion of its customs revenue to the federal finance ministry, in return for 12.67 percent of the total budget.

Reporter’s code: 50101