KRG Says Oil Industry At Risk Over Non Payment

Speaking at the CWC Iraq Conference 2015 in London on 9 June, Ashti Hawrami, Minister of Natural Resources for Iraq’s Kurdistan Regional Government (KRG) warned that the KRG could not survive unless Baghdad increased payments to the region.

However, Mr Hawrami held back from threatening to pull out of the December oil export agreement with Baghdad. Erbil remains committed to the accord even though it is getting less than it signed up for, he said.

It has been a difficult 12 months for the Kurdistan region, which he said faced a “perfect storm” caused by the threat from Islamic State (IS), the influx of some 1.5-1.6mn refugees from IS-occupied parts of Iraq and the collapse in oil prices. (CONTINUED - 1497 WORDS)