Posted on 09/05/2016 2:04:14 PM PDT by Lorianne
Iraq and the semi-autonomous region of Kurdistan have restarted joint exports of crude from the Kirkuk oil field, after the two parties reached a preliminary revenue-sharing deal earlier this week, industry contacts told Reuters on Thursday.
The agreement came to fruition during recent meetings in Baghdad between high-level officials from Baghdad and Erbil, including Iraqi Prime Minister Haider al-Abadi and KRG Prime Minister Nechirvan Barzani.
One shipping source said that revenues from Kirkuk’s oil trade would be split 50/50 between Iraq’s State Organization for the Marketing of Oil and Kurdistan under the new deal, though the agreement's final details will be sorted out during upcoming discussions between the Iraqi Oil Ministry and the KRG’s Natural Resources Ministry.
The officials also discussed the nearing operation for the liberation of Mosul and the future of the city and its citizens once the Islamic State has been removed.
Earlier this week, SOMO blacklisted three tankers from using Iraqi ports because they had been working with the Kurds to export oil to markets in Turkey.
(Excerpt) Read more at oilprice.com ...
How nice of the Kurds to “voluntarily” share their oil with Iraq. Will Iraq, in return, share the oil from down Basra way with the Kurds?
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