Progress on Erbil-Baghdad export deal
The KRG has authorized delivery of 150,000 bpd of oil into federal control, the first step in an interim export agreement that could spur political talks.
Oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS). (UMIT BEKTAS/Reuters)
ERBIL - Iraq's central government and the autonomous Kurdistan region are moving forward with the implementation of a temporary export deal designed to spur negotiations over oil policy.
The Kurdistan Regional Government (KRG) has authorized Turkish pipeline operator Botas to begin sending 150,000 barrels per day (bpd) into storage tanks controlled by Iraq's federal State Oil Marketing Organization (SOMO), according to a senior Turkish government official. In exchange, the KRG expects to receive a $500 million payment from Baghdad.
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