Iraq’s parliament has officially scheduled its next session for February 2, with lawmakers set to vote on several critical bills, including a key amendment to the federal budget law that could directly impact the Kurdistan Region’s oil exports.

According to the parliamentary agenda, legislators will cast a final vote on the first amendment to the federal budget for 2023, 2024, and 2025. The amendment aims to address financial stability and resource allocation, with a major focus on increasing deductions for oil extraction and transportation costs. Article 12 of the amendment, which was approved by the Finance Committee on January 19, initially set these deductions at $16 per barrel. However, an international consultancy firm has been given 60 days to reassess the cost before finalizing the figure.

On Thursday, Kurdish lawmaker Shwan Kalari revealed that a high-level meeting was held at the residence of Iraq’s Deputy Prime Minister and Finance Minister Fuad Hussein. During the meeting, Prime Minister Mohammed Shia' al-Sudani urged parliamentary factions to approve the budget amendment, emphasizing that its passage would facilitate the resumption of oil exports from the Kurdistan Region.

The agreement between the Kurdistan Regional Government (KRG) and the federal government outlines specific conditions for modifying the budget law, particularly regarding oil revenues. If the amendment is approved, oil production and export costs from Kurdistan will increase, with the final amount dependent on the review by the international auditing firm.

Kurdish MP Khalil Doski has confirmed that the vote on the oil-related budget clause will determine whether the Kurdistan Region can resume oil exports. Since March 25, 2023, oil exports have been suspended following a legal dispute between Baghdad and Ankara, which led to the shutdown of the Iraq-Turkey pipeline.

Beyond the budget law, lawmakers will also vote on amendments to the law on the equalization of qualifications and scientific degrees, which aims to improve academic and professional recognition. Additionally, the Ministry of Education’s proposal to reinstate the effort system, a policy affecting student evaluations nationwide, will be put to a vote.

The session will also include the second reading of a bill focused on regulating non-governmental universities, reflecting Iraq’s broader commitment to higher education reform.

The upcoming parliamentary decisions hold significant political and economic implications, particularly for the Kurdistan Region, as the fate of its oil exports hinges on Baghdad’s approval of the budget amendment.