Iraq Approves Paying $644 Million Owed to Oil Cos By Khalid Al-Ansary
2013-03-07 14:44:23.592 GMT
March 7 (Bloomberg) -- Oil cos operating in Kurdish north of Iraq will also receive unspecified additional payments if govt has surplus revenue in 2013, Zuhair al-Araji says in telephone interview from Baghdad after parliament approved state budget.
* Kurdish region to continue receiving 17% of govt spending under 2013 budget: al-Araji
* NOTE: Iraq parliament yday approved 2013 budget clauses on spending of 138.4t dinars ($119b), up 18% from 2012, based on forecasts of rising oil exports
* NOTE: Budget assumes crude exports of 2.9m b/d at sales price of $90/b; forecasts govt revenue of 119.3t dinars, deficit of 19.07t dinars
* NOTE: DNO International, Genel Energy among cos caught in dispute between Iraq central govt and Kurdistan Regional Government over oil revenue, production contracts, land
* NOTE: KRG says central govt owes 4.2t dinars to oil cos in Kurdish region