Baghdad-Erbil export deal moves forward
The KRG has begun an oil transfer to the federal government's storage tanks in Turkey after political leaders finalized details for temporary export cooperation.
Iraqi Prime Minister Haider al-Abadi (center) meets with KRG Prime Minister Nechirvan Barzani (center left) in Baghdad on Aug. 29, 2016. (Source: Prime Minister's office)
ERBIL - The Kurdistan Regional Government (KRG) has taken a significant step toward implementing a temporary oil deal that promises to increase exports for both Erbil and Baghdad.
The KRG began transferring crude to the federal government's State Oil Marketing Organization (SOMO) on Thursday, according to a senior oil official involved in the northern export system and an industry official briefed on exports. SOMO storage tanks at Turkey's Ceyhan port are currently in the process of receiving 650,000 barrels of crude, the first official said.
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