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FINANCIAL NEWS
Baghdad, Kurdistan resolve oil payment dispute
14 Sep 2012
(MENAFN) Iraqi Deputy Prime Minister, Rosh Nuri Al Shawish, announced that the oil payment dispute between the central government in Baghdad and the autonomous Kurdish region is resolved, reported Gulf Daily News.
Al Shawish said that Kurdistan agreed to resume oil exports, whereas Baghdad will pay foreign firms operating there.
He added that the two sides consented to carry on oil exports from the Kurdish region via the Iraqi oil pipeline, and to work to boost output to 200,000 barrels per day (bpd) as a first stage.
It is worth noting that the recent move solves part of a wider disagreement between the two parties about control over oil and territory that has involved key oil firms, including Exxon Mobil, Chevron and Total.
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