Kadhim Ajrash
Bloomberg
February 9, 2010
Iraq, holder of the world’s third- largest crude reserves, will resume oil exports from the northern Kurdish region “soon” after the government agreed to the local authority’s proposal on a payment method.
[efoods]The government instructed the State Oil Marketing Co. to resume exports from the Kurdish region “immediately,” Oil Minister Hussain al-Shahristani said today in Baghdad. Kurdish Regional Government Minister for Natural Resources Ashti Hawrami said by telephone that it’s “awaiting an official response.”
Iraq accepted a Kurdish proposal on payments to producers working in the semi-autonomous region, al-Shahristani said without providing details. The KRG last month proposed that the government pay Norway’s DNO International ASA and other producers in northern Iraq directly or for the revenue to pass through the Kurdish authorities.
“I hope we can restart exports soon,” Hawrami said. “We all can use some good news and we’re ready to contribute to the Iraqi economy.”
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