It says that if the federal government continues to default on the outstanding KRG entitlements then the KRG is authorized to use all other legal means available to it to compensate for all the unpaid dues, including monetizing oil produced in the Region.
This will include items such as past budgetary amounts owed to the Region, costs related to the Regional Guards (Peshmerga), the supply shortfall of refined oil products, and the compensation mechanism required for damages done to the Region by the former regime.
The law sets out a pathway to implement Iraq’s Constitution.
We believe that by implementing the Constitutional requirements for power and wealth sharing, everyone in Iraq will benefit, citizens and investors alike.
Distinguished guests, thanks to its hydrocarbon resources, the Kurdistan Region is already in a process of rapid transition.
Yet it remains calm and focused, determined not to get dragged into other people’s quarrels and conflicts.
The need to maintain balanced and friendly relations with all of Iraq’s neighbours has enabled us to move forward.
Our desire for progress is one that I believe is shared by all citizens of Iraq.
As a result, the KRG’s contribution to Iraq’s export targets, through the country’s northern energy corridor to Turkey and beyond, will be significant at such a time of increased international tension.
“Sadly, 29 trillion dinars later, Iraq has only solved a few of its electricity problems. The Kurdistan Region, however, has spent less than 1 trillion Iraqi dinars and enjoys near round-the clock power“
Yes it is a SAD story for many and ALL Kurdish officials to repeatedly (and foolishly) remind us that KRG enjoys round-the clock power compared to the rest of Iraq… Let us examine that argument in more detail… The KRG (comprising of 3 provinces) with a population of 5+ million inhabitants consumes power (without telling us how much power gets imported from Turkey and Iran yearly) of 2.5 GW compared to the rest of Iraq (15 provinces) and a population of 30+ million inhabitants that requires 15 GW (projected to reach 20 GW) a task that takes many years and billions of dollars to be attained and realized since the destruction of the old Iraqi power grid in 1991 in desert storm, desert fox and all sorts of desert crap by BUSH father, son and family!!
Yes we (ALL the Iraqis) are proud of the progress in the federally governed and administered region of Iraqi-Kurdistan and we applaud the Kurdish people and their officials over there and we wish them more success in the near future, but that success must not and cannot be compared with the rest of Iraq and Iraqis
When you hear these Kurdish officials (Like Mr. Hawrami) giving speeches and attend conferences valuing the KRG (aside from Iraq) and instead putting down the rest of Iraq (The argument of I look better than you is utterly childish and naive)
You also get a sense about these people who obviously care less for Iraq or Iraqis. We ask the question “What Have these people done for the rest of Iraq and the Iraqis since 2003” aside from ruling and administering their three provinces from Iraq’s generous 17% income and keeping their 3 provinces safe , secure and prosperous???
These people keep referring us (in their speeches) to the ill-written, ill-fated, doomed and decrepit constitution, written and passed in 2005 (under US occupation) by an inexperienced 27 year old American Jew named “Noah Feldman” who instilled prejudice, division, sectarianism and all sorts of awkward seeds in that constitution for the future of IRAQ’s political scene to be never solved and to have a never ending solution and for more continuous political, economical and societal complications!!!
Yes, we live in a SAD and a pathetic world to the extreme
Here is a tidbit information that “Mr. Hawrami” does not mention in his speech and instead he simplify it by saying “The Kurdistan Region has spent less than 1 trillion Iraqi dinars and enjoys near round-the clock power“, “Mr. Hawrami” also failed to mention that a real and a true Iraqi businessman is behind that success in Kurdistan
“Majid Hamid Jafar” is a United Arab Emirates (UAE) businessman of Iraqi origin. He is the CEO of Crescent Petroleum, the Middle East's oldest private oil and gas company, headquartered in the UAE and with offices in the UK and Internationally. He is also Vice-Chairman of the Crescent Group of Companies, which includes interest in energy, transportation, logistics, private equity and real estate sectors, and is the Managing Director of the Board of Dana Gas (PJSC), the first regional, private sector integrated natural gas Company in the Middle East, in which Crescent Petroleum is the largest shareholder.
Together, Crescent Petroleum and Dana Gas have invested over $1bn in the oil and gas sector in Iraq's Kurdistan region, producing over 340 million cubic feet of gas and 15,000 barrels of condensate per day and enabling almost continuous electricity in the main cities in Iraq's Kurdistan region.
Majid Jafar is the eldest son of Hamid Jafar, founder of Crescent Petroleum, and is a grandson of Dhia Jafar, a prominent politician and Cabinet Minister in the last decade of Iraq’s monarchy during the reign of King Faisal II until 1958.
Now that is what we call some real Iraqi Business news that makes all of Iraqis proud