Iraq Will Resume Kurdish Oil Exports in ‘Few DaysBy Kadhim Ajrash
Feb. 10 (Bloomberg) -- Iraq, holder of theworld’s third- largest crude reserves, will resume oil exports from thenorthern Kurdish region in the “next few days,” Oil Minister Hussainal-Shahristani said.
The ministry’s State Oil Marketing Co. will sellthe crude and all revenue will go into central government coffers, al-Shahristani told reporters today in Baghdad. Exports from thesemi-autonomous region stopped in October due to a payment dispute.
“The Iraqi government still has not informed usabout remunerating the companies working in the Kurdish region,” al-Shahristani said.
Iraq accepted a Kurdish proposal on payments toproducers working in the semi-autonomous region, al-Shahristani saidyesterday without providing details on the accord. The KRG last monthproposed that the government pay Norway’s DNO International ASA andother producers in northern Iraq directly or for the revenue to passthrough the Kurdish authorities.
Companies like DNO and Genel Enerji AS halted oilexports from the semi-autonomous Kurdish region in October becausethere was no mechanism in place for payments to producers. Exports fromthe Kurdish region started flowing through government-run pipelines lastyear and revenue went to state coffers.
https://www.businessweek.com/news/2010-02-10/iraq-will-resume-oil-exports-from-kurdish-region-in-few-days-.html