
PM Barzani receives US chargé d'affaires
Drone attack kills one in Penjwen
PUK pushes for new KRG cabinet before Iraq's November vote
Child among 4 dead in Sulaimani traffic accident
KRG deputy PM calls on Turkey to lift Sulaimani flight ban
A+ A-
ERBIL, Kurdistan Region - Kurdistan Region Prime Minister Masrour Barzani on Saturday received the United States Chargé d'Affaires to Baghdad Steven Fagin for discussions on financial entitlements, security concerns, and formation of the next Kurdistan Regional Government (KRG).
'Both sides emphasized the urgent need for the federal government to promptly send the Kurdistan Region's salaries and financial entitlements, and to resume oil exports via the Turkish port of Ceyhan without further delay,' read a statement from the KRG.
Iraq's Council of Ministers on Thursday approved a new financial agreement with the KRG, paving the way for the resumption of salary payments to the Region's public employees and the restart of Kurdish oil exports, which have been suspended for more than two years.
The US State Department said on Saturday that the resolution of Erbil-Baghdad tensions over oil exports and finances would signal that the Iraqi government is committed to creating a suitable investment environment.
During the meeting, Fagin 'reaffirmed the United States' firm support for a strong, stable, and federal Kurdistan Region. Prime Minister Barzani expressed his gratitude for Washington's continued commitment and partnership,' the statement said.
In recent weeks, oil fields and energy infrastructure in the Kurdistan Region have come under drone attacks, which stopped after Erbil and Baghdad announced their new agreement.
Barzani and Fagin strongly condemned the attacks and called 'for an immediate end to these acts of sabotage,' according to the Kurdish statement.
They also discussed the formation of Kurdistan Region's next cabinet. Although parliamentary elections were held on October 20, 2024, negotiations between the Kurdistan Democratic Party (KDP), of which Barzani is a member, and the Patriotic Union of Kurdistan (PUK) on forming a power-sharing government have dragged on for nine months. The parliament has convened only once in that time.
Barzani and Fagin both noted the importance of forming the cabinet before Iraq's parliamentary elections set for November 11.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Shafaq News
17 minutes ago
- Shafaq News
ISX reports +$5.5M in weekly trading
Shafaq News – Baghdad The Iraq Stock Exchange (ISX) reported over 7.8 billion Iraqi dinars (about $5.6M ) in share trading value last week. ISX reported that shares of 61 companies were traded last week, while 35 saw no trading due to a mismatch between buy and sell orders. Eight companies remain suspended for failing to disclose required information, out of 104 listed firms in total. Trading volume rose to 5,415,321,000 shares—a 150% increase from the previous week—executed through 4,438 transactions. The total trading value reached 7,885,292,000 dinars, up by 34%. The ISX60 index, which tracks share prices of the most actively traded companies, closed at 979.85 points, reflecting a 0.61% weekly gain. Foreign investors showed increased activity, purchasing 128 million shares worth 527 million dinars in 82 transactions. Meanwhile, they sold 307 million shares valued at 645 million dinars across 11 transactions. The Iraq Stock Exchange operates five trading sessions per week, from Sunday to Thursday, and includes companies across various sectors such as banking, telecommunications, industry, agriculture, insurance, tourism, and services.


Rudaw Net
an hour ago
- Rudaw Net
Kurdistan Region's oil production before, after drone strikes
Also in Opinions Sarsang oil field attack and the Hamrin oil, gas contracts: five key questions Decoding Ocalan's message: The question of PKK disarmament and the future of Kurdish politics Kurdish intellectuals face challenges amid Turkey's Kurdish question The 12-day war and silent transformations of western Asia A+ A- Oil fields in Erbil and Duhok provinces were targeted by explosive-laden drones over two days last week. The attacks on various areas of these two provinces continue, and the number is increasing day by day, despite condemnations from the United States, Iraq, and demands from the Kurdistan Region to stop the attacks. Currently, two-thirds of oil production in the Kurdistan Region has been halted, and companies and the Kurdistan Regional Government's (KRG) natural resources ministry indicate massive damage to oil production infrastructure in the Region. This has had a direct impact on the market, with each ton of oil products becoming approximately $30-40 more expensive. If the current situation continues, prices will rise even higher. Furthermore, total oil production in the Kurdistan Region has declined to 101,680 barrels per day, which is the lowest level of oil production in the Kurdistan Region oil fields since the second quarter of 2015. Before the drone strikes, oil production from 12 oil and gas fields in the Kurdistan Region was 328,000 barrels, including 15,819 barrels of Khor Mor condensate gas. Currently, oil production - excluding gas - has reached 101,680 barrels. These attacks have a very significant impact on the oil and gas sector in the Kurdistan Region, as they come at a time when, since March 2023, all development and new investments by international oil companies (IOCs) in the Kurdistan Region have stopped. Now these attacks have targeted the existing infrastructure of companies and caused reduced production and zero operations by IOCs in Erbil and Duhok. If the Khurmala oil field facilities are again targeted by drones, production levels will certainly reach near zero throughout the Kurdistan Region. The motives behind these attacks are complex and varied. Primarily, they have targeted the oil industry infrastructure of the Kurdistan Region, demonstrating the high technical capability of the attackers and their ability to strike anywhere and anytime, regardless of the consequences. Another point is that oil and gas fields in the Kurdistan Region still lack adequate protection systems, which is why the impact of these attacks has caused major economic consequences and significant damage to the industry. Even the Shekhan oil field, operated by the British company Gulf Keystone, decided to halt oil production due to security risks, though it has not yet been targeted. The 70 percent reduction in oil production not only harms oil companies and the Kurdistan Region's revenues from this sector, but also will directly impact oil refineries and prices of oil products, especially gasoline, in the coming days if a solution is not found quickly. Currently, except for Khurmala and Sarqala oil fields, oil production has been halted in all other oil fields in the Kurdistan Region, and it is unclear when companies will resume oil production. Mahmood Baban is a research fellow at the Rudaw Research Center. The views expressed in this article are those of the authors and do not necessarily reflect the position of Rudaw.


Rudaw Net
2 hours ago
- Rudaw Net
Sarsang oil field attack and the Hamrin oil, gas contracts: five key questions
Also in Opinions Kurdistan Region's oil production before, after drone strikes Decoding Ocalan's message: The question of PKK disarmament and the future of Kurdish politics Kurdish intellectuals face challenges amid Turkey's Kurdish question The 12-day war and silent transformations of western Asia A+ A- Early Tuesday, the Sarsang oil field was attacked by a drone. The American company HKN, which operates the field and owns 62 percent of its shares, is the main stakeholder. Hours later, the Iraqi ministry of oil announced the signing ceremony of the contract between the US-based HKN Energy and the North Oil Company for the development of the Hamrin oil field, with a daily production capacity of 60,000 barrels of oil and 45 to 50 million cubic feet of gas. 'The attack caused no casualties, but total production, which is 30,000 barrels of oil per day, has been halted until all assessments of the situation are completed,' HKN said on X. Drone attacks have become alarmingly routine in the Kurdistan Region. Two drones struck Khurmala on Monday, adding to a series of previous drone attacks that have targeted both civilian areas and political security sites across the Region. Notably, the recent targeting of the Sarsang field coincided with the presence of Matthew Zais, Deputy Director of HKN Energy, at the Iraqi Ministry of Oil, where he was working on finalizing a new contract for the company. Whatever the dimensions of these attacks may be, they highlight the weakness of the state and the dominance of political forces, as well as both legal and illegal groups in Iraq. These groups send three important signals through the attack on Sarsang. First, from a technical and security perspective, the attacks demonstrate the superiority of the aggressor. Second, from an economic standpoint, the objective appears to be the reduction of the Kurdistan Region's oil production capacity and disruption of its current sales method. Third - and perhaps most importantly - there is a political dimension that may be the primary motive behind the attack: to serve as a warning for the US not to penalize Iraq's State Oil Marketing Organization (SOMO) for its oil sales. In recent days, following US President Donald Trump's letter to the Iraqi prime minister regarding the imposition of a 30 percent tariff on Iraqi goods starting August 1, there have also been indications that the United States has warned Iraq about the sale of Iranian oil. On July 3, the US Department of the Treasury added several individuals and companies to its sanctions list for selling Iranian oil under the guise of Iraqi oil. Previously, Iraq's Oil Minister, Hayyan Abdul Ghani, stated that 'Iran uses Iraqi documents to sell its oil.' This statement helps explain the longstanding discrepancy between the revenue data reported by Iraq's Oil Ministry and that of the Finance Ministry. Iran's total oil production is also higher than Iraq's. According to Energy data for 2024, Iran's daily oil production was 5.062 million barrels, while Iraq produced 4.398 million barrels per day. This means that, in terms of annual production growth, Iran increased its output by 10.6 percent, whereas Iraq's production rose by only one percent. Within the borders of Duhok province, there are several other oil fields where international companies, particularly British, Norwegian, and Canadian ones, are operating as production partners. These include the Tawke, Peshkabir, Shekhan, and Bashiqa oil fields, which are geographically more accessible and, in some cases, even closer than Sarsang, if the sole objective of the attackers had been economic disruption or security destabilization. However, the selection of Sarsang as the target appears clearly intentional. These attacks underscore the complexity of Iraq's political system and the capabilities of various armed actors within it. Currently, oil production in the Kurdistan Region ranges between 280,000 and 300,000 barrels per day. However, as of the morning of Tuesday, production dropped by nearly 30,000 barrels. According to the Iraqi oil minister, the remaining disagreement between Erbil and Baghdad over resuming oil exports through the Ceyhan port in Turkey amounts to a gap of just 19,000 barrels. We should not overlook the fact that the timing and targeting of the Sarsang field demonstrate the advanced and sophisticated capabilities of the attacking side from all angles. This poses a serious threat that must not be forgotten, especially if a new agreement comes into effect. Another important reality is that targeting the HKN company effectively means targeting the lobbying power of international oil companies within the US Congress and administration. Much of the US administration's statements and exerting pressure on Erbil and Baghdad to resume Kurdistan's oil exports via pipelines - and to reach a new agreement - was driven by the interests tied to this company. Finally, while it is true that the attack took place and the agreement was signed, several critical questions remain unanswered. First: If the US Treasury Department threatens to sanction SOMO, should the illegal groups in Iraq target part of the Iraqi state's territory and demand its surrender along with its revenues? Second: Is there division among the current rulers of the state administration in managing files, or are official institutions one thing and what actually happens another thing? Third: Does the signing of HKN company's contract with the Iraqi ministry of oil put an end to the repeated claims of unconstitutional and illegal contracts with the Kurdistan Region? Fourth: Why did Iraq choose the HKN company from among dozens of major American oil companies at this stage? What connection does this have to lobbying? Fifth: What will be the response of the US administration to harming American companies and investors? Mahmood Baban is a research fellow at the Rudaw Research Center. The views expressed in this article are those of the authors and do not necessarily reflect the position of Rudaw.