RE: Interesting development on Exxon deal This statement made by the KRG natural resource minister quite very interesting since they have already signed a contract to build their own pipeline that can export up to 1 million barrels of oil thereby bypassing the existing pipeline owned by Bagdad. This is a major development for the oil companies as they can export as much as possible. This is the statement:
"Already we are very close to signing our first agreement on a pipeline in Kurdistan to carry about half a million barrels a day and then to expand the capacity to 1,000,000 barrels," he said. "In fact it's been approved - it's more of a question of finalising it within the next week or so."