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Iraq's Kurds halt oil exports over payment row

Last Updated: Monday, April 2, 2012 - 14:06

Baghdad: Iraq's self-ruled northern Kurdish region says that it has halted oil exports over a payment row with the central government in Baghdad.

The Kurdistan Regional Government has struck scores of deals with oil companies in recent years, even though Baghdad says it has no right to do so.

The two sides struck a tentative deal in 2011 by which the Kurds send the oil to Baghdad, which sells it, and each side then takes 50 per cent of the revenues.

In a statement issued late yesterday, the Kurdish government said Baghdad failed to send any money since May, even though it had been exporting 50,000 barrels per day.

It added that oil exports will be resumed once payment issue is resolved.


First Published: Monday, April 2, 2012 - 14:06
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