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FINANCIAL NEWS
Iraq’s Kurdistan stops oil exports
02 Apr 2012
(MENAFN) Iraq’s Kurdistan’s Ministry of Natural Resources said that the Kurdistan Regional Government has stopped oil exports due to payment dispute with the central government in Baghdad, reported AP.
The ministry added that although Baghdad had been exporting 50,000 barrels per day of oil, the central government hadn’t sent any money to the Kurdish semiautonomous region since May.
It also said that oil exports would be recommenced once payment issue is resolved.
It is worth noting that only 2 payments of USD514 million have been made in May 2011, according to the ministry.
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