Iraq oil revenue deal with Kurdish Regional Government expected soon | The National

Iraq oil revenue deal with Kurdish Regional Government expected soon | The National:



"A comprehensive deal over how Iraq’s oil output and revenue is managed – a crucial step to make progress on the political front – should be settled in a matter of weeks, according to Iraq’s deputy prime minister in charge of energy.



“We need a few weeks to work on it in council, then we will send it to the parliament for a vote,” said Baha Al Araji, Iraq’s deputy prime minister, on the sidelines of the World Economic Forum on the Middle East and North Africa gathering in Jordan. “We have three problems to solve, but they are not technical – they’re political with Kurdistan. In a few weeks a draft will be ready.”



The main dispute centres around the details of how the Kurdish Regional Government handles its exports and how the central government in Baghdad distributes money back to the KRG. There was a deal in place in December, in which the KRG committed to handing over 550,000 barrels of oil per day from areas under its control to Iraq’s state oil marketing organisation."



'via Blog this'