Kurdistan Delegation Concludes Budget and Oil Talks in Baghdad, Affirms SOMO Revenue Delivery

The negotiating delegation of the Kurdistan Regional Government (KRG) has concluded a series of intensive meetings in the capital Baghdad with senior officials and relevant federal ministries. These negotiations aimed at direct participation in drafting the federal budget law for 2027 and securing the region's financial shares and constitutional entitlements. A statement issued by the KRG's Department of Media and Information clarified that the delegation's agenda included three main meetings. These meetings were held with the federal Ministries of Finance, Planning, and Oil, during which the commitment to constitutional and legal frameworks was emphasized to ensure the salaries of the region's employees and its fair entitlements. The delegation began its meetings with the federal Minister of Finance and Acting Minister of Planning, Faleh Al-Sari, where visions regarding financial shares were discussed. The KRG delegation appreciated its participation in the initial drafting phase at the Federal Ministry of Finance, stressing the necessity of establishing a stable and fair basis for regulating the financial relationship between Baghdad and Erbil. Minister Al-Sari, for his part, welcomed the delegation's participation, emphasizing that the Federal Ministry of Finance would deal with the region's rights according to the constitution and current laws. At the Federal Ministry of Planning, the delegation held a joint meeting attended by both ministries' undersecretaries and directors general of investment and planning. The KRG delegation demanded that its share of investment projects be calculated according to the results of the latest general population census, in addition to allocations for regional and provincial development and petrodollar funds. It also emphasized the need to include the region in international loans, assistance, and grants, given its responsibility for repaying part of the installments and interest on these loans. The federal Planning delegation expressed its readiness to discuss proposals and continue technical coordination. The delegation concluded its meetings with an extensive session at the Federal Ministry of Oil with the minister and senior staff. Discussions focused on the oil provisions of the 2027 budget, including determining the estimated quantities allocated for export (including fields in the region), the estimated price per barrel of oil, and quantities directed for local consumption. The KRG delegation affirmed its commitment to delivering produced oil designated for export to SOMO for sale in international markets and transferring its revenues to the federal treasury. The Ministry of Oil welcomed this approach, aiming to reach a balanced formulation that ensures the continuity of production and export. In conclusion, the statement reaffirmed the Kurdistan Region's commitment to fulfilling all its constitutional duties, in return for the federal government providing the region's financial rights, foremost among them the salaries and entitlements of employees fairly, on par with other Iraqi governorates.