Amended budget law moves KRG oil exports closer to resumption, but hurdles remain

Parliament’s passage of the amended federal budget law paves the way for the resumption of oil exports from the Kurdistan Regional Government (KRG).

The bill amends Article 12, which Iraq Horizons analyzed in November last year. Iraq's three-year budget law had allocated $6 per barrel in federal funds to cover the KRG's oil production and transport costs. However, the KRG has maintained that production costs average $20 per barrel, with transport costs at $6 per barrel.