Basem Al-Gharibawi, a member of the Parliamentary Oil and Natural Resources Committee, issued a warning on Wednesday against the Kurdistan Region continuing its unofficial oil exports, pointing out that this export will reduce oil revenues.
Al-Gharibawi stated, “If OPEC reduces Iraq’s export share after calculating the quantity exported by the region, the petrodollar revenues of the oil-producing provinces will be directly affected.”
“The region exports oil unofficially, and OPEC considers these quantities as part of Iraq’s total export share,” he added. “Iraq will be obligated to reduce its exports through other outlets not affiliated with the region,” he continued.
He made the observation that “Iraq is facing a real problem in reducing its export share, as this reduction means affecting the oil revenues that the state directly depends on to build the budget, in addition to the fact that the quantities exported through the region do not have their revenues reaching Baghdad.” He also mentioned that “Iraq is facing a real problem in reducing its export share.”
